Renishaw 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 software product development solutions for the manufacturing industry and is listed on the London Stock Exchange’s AIM market.
Delcam’s sales for the year ending 31 December 2005 were £23.5m and its profit before tax was £2.3m.
The investment represents approximately 20% of Delcam’s enlarged capital. The net proceeds will be used to fund the expansion of Delcam’s business and for further investment in the development, sales and support of Delcam’s products.
Renishaw believes that closer cooperation with Delcam will enhance the sales of both companies and will provide opportunities for developing software to support Renishaw’s products.
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