9th Mar 2020 18:14
(Alliance News) - Merian Global Investors UK Ltd has reduced its stake in Synthomer PLC below the 5% threshold, Synthomer said on Monday.
Prior to the transaction, which occurred on Friday last week, Merian Global held a 7.4% stake.
Chemicals firm Synthomer shares closed 7.9% lower on Monday in London at 248.60 pence each. Last week, the firm reported a 17% fall in annual pretax profit, its first profit decline in four years.
The dividend for 2019 was down 11% to 10.9 pence per share.
By George Collard; [email protected]
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