Picanol NV

Major Shareholding Notification • Aug 29, 2012

PRESS RELEASE Regulated information 29 August 2012 – 17h40

DISCLOSURE OF THE RECEIVED NOTIFICATIONS IN ACCORDANCE WITH THE PROVISIONS OF THE ACT OF 2 MAY 2007

Transparency legislation

In accordance with the stipulations of the Act of 2 May 2007 concerning the disclosure of significant participations in listed companies, the Picanol Group has received on 27 August 2012 notification from the following shareholders regarding the status as of today:

		Number of voting rights	% voting rights
	Mr. Patrick Steverlynck	550	0.00%
	Oostrotex NV	10,649,021	60.16%
	Symphony Mills NV	1,859,448	10.51%
	Stichting Administratiekantoor
	Picanol (STAK)	3,262,461	18.43%
	TOTAAL	15,771,480	89.10%

Oostrotex NV is controlled by Mr. Luc Tack. Mr. Luc Tack controls Symphony Mills NV, that together with Sofines BV and Pasma NV (both controlled by Mr. Patrick Steverlynck) jointly controls STAK Picanol.

Symphony Mills has acquired 170,408 shares in Picanol NV following several transactions since 31 August 2011. Within STAK Picanol, 30,792 certificates were transferred from Michel Steverlynck ("Group Michel & Yves Steverlynck") to Symphony Mills NV ("Group Luc Tack"), and 31,745 certificates were transferred from Berlau Comm. VA ("Group Michel & Yves Steverlynck") to Symphony Mills NV ("Group Luc Tack").

The acquisition of voting securities concerns an acquisition of Picanol NV shares by Symphony Mills NV, which resulted in a threshold being exceeded on account of Symphony Mills NV. Mr. Patrick Steverlynck and Mr. Luc Tack, and the companies related to them, are acting in concert. Within STAK Picanol, the certificate holders (Sofines BV, NV Pasma, and Symphony Mills NV) jointly control STAK Picanol, in concert with the certificate holders of Berlau Comm. VA (controlled by Mr. Michel Steverlynck) and Yves Steverlynck (also a direct holder of 200 shares in Picanol NV). Under the Law of 2 May 2007 on disclosure of major holdings in issuers whose shares are admitted to trading on a regulated market, this agreement does not give rise to a separate notification obligation on account of Berlau Comm. VA, Mr. Michel Steverlynck and Mr. Yves Steverlynck, and they are therefore not required to give notice.

An overview of notifications of shareholding is available on the corporate website www.picanolgroup.com in the section Investor Relations/Shareholders Structure.

Further information on the Picanol Group is available on the website www.picanolgroup.com.