CIMdata PLM Industry Summary Online Archive
18 April 2012
Financial News
Cimatron Receives Court Approval for Cash Distributions to Shareholders
Cimatron Limited announced today that following its announcement from November 29, 2011 to seek court approval for cash distributions to shareholders, the Israeli court today approved the distribution to Cimatron shareholders of up to US$10 million. The distribution may be effected over the course of a 12 month period following the approval of the court, subject to subsequent Board approvals of specific payments out of the total potential distribution amount. Cimatron is also in the process of seeking a ruling from the Israeli Tax Authority with respect to withholding on any such future distributions.
Prior to any specific distribution, Cimatron will issue a press release announcing the exact distribution amount, record date and distribution date.
Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.
Tell us what you think of the CIMdata Newsletter. Send your feedback.
CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.