Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

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 2016 the year you get RICH!

Latest Headlines

Morgan Stanley to pay $3.2 billion to settle financial crisis-era chargesMorgan Stanley to pay $3.2 billion to settle financial crisis-era charges
WASHINGTON (Reuters) - Morgan Stanley is poised to pay $3.2 billion to settle federal and state charges that it misled investors in residential mortgage-backed securities that later soured during th...
Morgan Stanley to pay $3.2 billion to settle financial crisis-era chargesMorgan Stanley to pay $3.2 billion to settle financial crisis-era charges
WASHINGTON (Reuters) - Morgan Stanley is poised to pay $3.2 billion to settle federal and state charges that it misled investors in residential mortgage-backed securities that later soured during th...
IMF nominates Lagarde to second term leading agencyIMF nominates Lagarde to second term leading agency
WASHINGTON (Reuters) - International Monetary Fund chief Christine Lagarde has been nominated to second term as the agency`s managing director, the IMF said in a statement on Thursday. Largarde, the...
How to fix U.S. long-term care over the long haulHow to fix U.S. long-term care over the long haul
CHICAGO (Reuters) - Ask Americans what they fear most about aging, and many will tell you it is the possibility of needing nursing care - and not being able to pay for it. They are right to worry....
Europeans stack up $1.1 trillion in cash as economic worries growEuropeans stack up $1.1 trillion in cash as economic worries grow
FRANKFURT (Reuters) - The amount of cash across the euro zone rose to more than 1 trillion euros ($1.1 trillion) last year, with almost 30 percent of it hoarded in 500 euro notes, ECB data has shown...

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.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

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

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More