Recent share purchases in Lathams by Gloucester-based International Plywood have taken its shareholding to 963,736 shares, giving it a 4.96% share in the company.
The shareholding at the current share price of £2.96 is worth about £2.85m.
Only Sir Robert McAlpine Enterprises (1.35 million shares/6.95% shareholding) and Lathams chairman Peter Latham (1.1 million shares/5.72% shareholding) are larger shareholders in the company.
The next largest shareholders are other family members Nick Latham (3.11%) and Piers Latham (3.10%).
"James Latham is a good investment and it is a good business," International Plywood managing director Ian Attwood told TTJ.
"We have been buying shares in the company for the last 3-4 years."
A spokesperson for Lathams said the company was made aware of the International Plywood purchases by letter. Although surprised by the purchases, Lathams said its shares did pay a good dividend.
Matthew Johnson of Northland Capital Partners Ltd told TTJ that a declaration has to be made when a shareholding passes the 3% mark.
Since the depth of the recession in 2009, Lathams’ share price has trebled.
