Cimatron Declares Cash Distribution to Shareholders of NIS1.54 (approximately $0.42) per Share
GIVAT SHMUEL, Israel, February 5, 2013 /PRNewswire/ –
Cimatron Limited [http://www.cimatron.com ] (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 $3.9 million.
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
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.
Cimatron’s shares are publicly traded on the NASDAQ exchange and the TASE under the
symbol CIMT. For more information, please visit Cimatron’s web site at:
Safe Harbor Statement
This press release includes forward looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, which are subject to risk and
uncertainties that could cause actual results to differ materially from those anticipated.
Such statements may relate to Cimatron’s plans, objectives and expected financial and
operating results. The words “may,” “could,” “would,” “will,” “believe,” “anticipate,”
“estimate,” “expect,” “intend,” “plan,” and similar expressions or variations thereof are
intended to identify forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond Cimatron’s ability to control. The risks and
uncertainties that may affect forward looking statements include, but are not limited to:
currency fluctuations, global economic and political conditions, marketing demand for
Cimatron products and services, long sales cycles, new product development, assimilating
future acquisitions, maintaining relationships with customers and partners, and increased
competition. For more details about the risks and uncertainties related to Cimatron’s
business, refer to Cimatron’s filings with the Securities and Exchange Commission.
Cimatron cannot assess the impact of or the extent to which any single factor or risk, or
combination of them, may cause. Cimatron undertakes no obligation to publicly update or
revise any forward looking statements, whether as a result of new information, future
events or otherwise.
For More Information Contact: Ilan Erez Chief Financial Officer Cimatron Ltd. Phone: +972-73-237-0114 Email: firstname.lastname@example.org
SOURCE Cimatron Ltd