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February 5, 2013 /PRNewswire/ --
Cimatron Limited (NASDAQ and TASE: CIMT) today announced that its Board of Directors has approved a cash distribution of
NIS 1.54 (approximately
US$0.42) per share on outstanding ordinary shares, representing a total distribution of approximately
The distribution is payable on
March 5th, 2013 to shareholders of record at the close of business on
February 15th, 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 distribution of approximately
$4.0 million that was recently made under the same court approval. Further distributions under the said court approval, if any, are subject to subsequent Board approval of specific payments out of the total potential distribution amount.
Yossi Ben-Shalom, Cimatron's Chairman of the Board of Directors, said, "We are pleased to declare yet another distribution to our shareholders, and will examine further distributions subject to our cash needs and market conditions".
With 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron 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. Cimatron'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.