Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Cimatron - CIMT - Declares Cash Distribution to Shareholders

Friday, December 28, 2012 1:01 PM
Cimatron Limited (NASDAQ : CIMT) announced that its Board of Directors has approved a cash distribution of NIS 1.60 (approximately US$0.43) per share on outstanding ordinary shares, representing a total distribution of approximately $4.0 million. The distribution is payable on February 4th, 2013 to shareholders of record at the close of business on January 17th, 2013. This distribution will be made from paid-in capital, following a court approval that was given in April 2012, allowing the distribution of up to $10M to Cimatron shareholders, and following a ruling that was recently obtained from the Israeli Tax Authority. Further distributions under the said court approval and tax ruling, if any, are subject to subsequent Board approval of specific payments out of the total potential distribution amount. Concurrently with the announcement of the cash distribution, the Company also announces today that its Board of Directors has resolved to delist its shares from the TASE. Consequently, Cimatron intends to apply to the TASE and request that TASE initiate the delisting process. The delisting in Israel will not affect Cimatron's continued listing on the NASDAQ Capital Market in the United States. "Our confidence in continued profitability and positive cash flows going forward, together with the conclusion of the regulatory process, allow us to unlock value to our shareholders. We will examine further distributions subject to our cash needs and market conditions ". Remarked Yossi Ben-Shalom, Cimatron's Chairman of the Board of Directors.  "We have decided to delist from the TASE as we realized that such listing added no significant value to our shareholders. We will continue being listed and traded on NASDAQ as usual." Concluded Mr. Ben Shalom. Under applicable Israeli law, the delisting of Cimatron's shares from trading on the TASE will take place 90 days after the date of this announcement and the publication thereof in Israelinewspapers which is expected to be on or about April 1, 2013. During the interim period, Cimatron's ordinary shares will continue to be traded on the TASE. Cimatron will announce the exact date of its TASE delisting when it becomes available. About Cimatron – CIMT With 30 years of experience and more than 40,000 installations worldwide, Cimatron (CIMT) is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. CIMT is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles and ultimately shorten product delivery time. The Cimatron product line includes the CimatronE and GibbsCAM brands with software solutions for mold design, die design, electrode design, 2.5 to 5 Axis milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and tombstone machining. CIMT's subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastics, electronics, and other industries in over 40 countries worldwide.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Oman likely to start cutting subsidies next year -ministerOman likely to start cutting subsidies next year -minister
KUWAIT (Reuters) - Oman`s government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-B...
Deutsche Bank lawyer found dead by suicide in New YorkDeutsche Bank lawyer found dead by suicide in New York
BERLIN (Reuters) - A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the...
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delaysAreva-Siemens raises claim to $4.4 billion over Finnish reactor delays
HELSINKI (Reuters) - The French-German consortium Areva-Siemens <AREVA.PA><SIEGn.DE>, the supplier of Finland`s much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Fi...
India's finance minister favors interest rate cut: paperIndia's finance minister favors interest rate cut: paper
NEW DELHI (Reuters) - India`s Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has s...
China's auto market growth may halve to 7 percent this year: industry body headChina's auto market growth may halve to 7 percent this year: industry body head
SHANGHAI (Reuters) - Growth in China`s auto market, the world`s biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personal...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.