According to Belgian law, a shareholder whose direct or indirect (together with affiliated parties with whom he acts in concert) stake reaches, exceeds or falls below a threshold of 5% or a multiple of 5% of the denominator (see below), has to disclose this. In addition the corporate bylaws of Agfa have specified that reaching, exceeding or falling below the initial threshold of 3% of the existing shares must also be disclosed.
According to the Belgian legislation (law of May 2, 2007 and the Royal Decree of February 14, 2008 relating to the publicity of large participations), the number of shares of the denominator is as follows: 171,851,042.
As of January 10, 2006, Agfa-Gevaert owns 4,099,852 shares in treasury and holds thus 2.39% of the voting rights.
As of September 5, 2011, Dimensional Fund Advisors LP has announced that it directly holds a share in Agfa-Gevaert of 5,774,118 voting rights or 3.36%.
As of January 1, 2017, Classic Fund Management AG holds a stake in Agfa-Gevaert of 8,290,696 voting rights or 4.82%.
As per August 2, 2018, Norges Bank holds a stake of 5,185,631 voting rights or 3.02%. At the same time Norges Bank declared to have 828,530 voting rights or 0.48% on loan. This gives a total of 6,014,161 voting rights or 3.50%.
As of April 12, 2019, Active Ownership Capital S.à.r.l holds a stake in Agfa-Gevaert of 23,069,853 voting rights or 13.42%.