BUZZ-Telit: new shareholders buy in from mystery seller

** Telit rises 4.3 pct after disclosing two new institutional shareholders, but who sold the shares remains unknown

** The crisis-hit internet of things company reported a shock loss on August 7, and lost its CEO Oozi Cats after it discovered he had been indicted for mortgage fraud in the US

** Lagoda Investment Management built a 5.3 pct stake on August 8 but did not disclose its stake until August 14, according to the filing. Its website does not contain any information on its activities

** Lazarus Management Company, that runs a series of funds investing in Israeli companies, disclosed it owns more than 3 pct of Telit, crossing the threshold on August 10

** On Monday Davide Serra from Algebris Investments disclosed he had taken his stake in the company beyond 4 pct, also on August 10

** It is not known who sold the shares. Cats remains the largest shareholder with 12.9 pct and has not filed a disclosure since buying 400,000 shares on August 7, after results but before his past was revealed

** A spokesperson for Telit said any disclosure delays were down to the shareholder, and that Cats is still required to disclose any sale of his stake despite resigning from the board