Summary of notification
Recticel (Euronext: RECT) has received a transparency notification dated 7 February 2024, which shows that Degroof Petercam Asset Management SA, as a result of the acquisition of shares on 5 February 2024, now owns 3.02% of the voting rights of the company. It has thus crossed upwards the 3% shareholding threshold.
Summary of notification
Recticel (Euronext: RECT) has received a transparency notification dated 24 January 2024, which shows that Janus Henderson Group plc, as a result of the acquisition of shares on 23 January 2024, now owns 5.02% (previously 3.02%) of the voting rights of the company. It has thus crossed upwards the 5% shareholding threshold.
Recticel announces that on 10 January 2024 it successfully completed the acquisition of REX PANELS & PROFILES SA. This acquisition is the second major step in deploying its strategy to become a pan-European leader in the insulated panels segment (see also press release of 21 December 2023).
The acquisition price was paid in cash for an enterprise value of EUR 70 million. REX will be consolidated in Recticel’s financial statements as from 10 January 2024.
After the acquisition of TRIMO in April 2022, Recticel announces a second major step in deploying its strategy to become a pan-European leader in the insulated panels segment.
Recticel has entered into a final agreement with Mr. Michel Verhelst, founder, to acquire 100% of REX PANELS & PROFILES SA.
REX, located in Tournai, Belgium, is specialized in the production of PIR and mineral wool insulated panels for the construction industry.
After the finalisation of the transformation of Recticel in a pure insulation player, the Board of Directors and Olivier Chapelle have agreed that after 13 years at the helm of Recticel, the timing was ideal to pass the torch to a new CEO, who would lead the next phase of expansion of the Company. Olivier Chapelle and the Board of Directors have aligned on a handover, to begin on 1 September 2023, with Jan Vergote who succeeds him. Jan Vergote will resign from all his operational functions at Baltisse Group.