30th Mar 2007 08:17
Renishaw PLC30 March 2007 Investment in Delcam plc------------------------ Renishaw plc is pleased to announce that it has conditionally agreed to invest£6,096,208 in Delcam plc by subscribing for 1,524,052 new Ordinary Shares at£4.00 per share. Delcam is one of the world's leading suppliers of advanced CADCAM softwareproduct development solutions for the manufacturing industry and is listed onthe London Stock Exchange's AIM market. Delcam's sales for the year ending 31 December 2005 were £23.5m and its profitbefore tax, £2.3m. Delcam will be announcing its 2006 results today. The investment represents approximately 20% of Delcam's enlarged capital. Thenet proceeds will be used to fund the expansion of Delcam's business and forfurther investment in the development, sales and support of Delcam's products. It has been agreed with Delcam that Renishaw is entitled to nominate a directorfor appointment to the board of Delcam for so long as Renishaw maintains ashareholding of at least 15%. Renishaw and Delcam have worked together for many years and share commonmetrology interests and customers. Renishaw believes that closer cooperationwith Delcam will enhance the sales of both companies and will provideopportunities for developing software to support Renishaw's products. The Directors of Renishaw are very pleased to further their long-standingrelationship with Delcam in this manner and are confident that the newrelationship will be extremely fruitful for the progress and continuingdevelopment of both companies. Sir David McMurtry CBE, RDI, CEng, FIMechE, FREngChairman and Chief Executive 30 March 2007 For further information contact: Allen RobertsGroup Finance Director & Company Secretary or Ben TaylorAssistant Chief Executive+ 44 (0)1453 524524 Renishaw plcRegistered office: New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JRRegistered in England under number: 1106260 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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