14th Mar 2008 15:17
Flomerics Group PLC14 March 2008 Flomerics Group plc "Flomerics" or '"the Company" Transfer of significant shareholding The Board of Flomerics, the global supplier of simulation software, understandsthat Pricap Venture Partners AG has sold its entire interest in shares of theCompany to Mentor Graphics Corporation (Nasdaq: MENT) in an off-markettransaction. The interest includes all further shares to be issued in relationto the acquisition of NIKA GmbH and represents approximately 20% of the sharecapital of the Company as expanded by the issue of these additional shares. As set out in the trading update of 9 January 2008, the Board sees goodprospects for growth to continue across its range of products and has beenencouraged by the start to the current financial year. In addition, the Companyis well funded, with cash balances having increased to over £4 million,following the receipt of the first tranche of consideration in relation to thedivestment of its electromagnetics business. A second tranche, of up to£530,000 is due to be paid by 31st March 2008. 14 March 2008 Enquiries: FlomericsGary Carter: 0208 487 3000Keith Butcher: 0208 487 3000 Oriel Securities LimitedAndrew Edwards 020 7710 7618David Arch 020 7710 7618 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Flowtech Fluid.