Flomerics Group PLC
14 March 2008
Flomerics Group plc
"Flomerics" or '"the Company"
Transfer of significant shareholding
The Board of Flomerics, the global supplier of simulation software, understands
that Pricap Venture Partners AG has sold its entire interest in shares of the
Company to Mentor Graphics Corporation (Nasdaq: MENT) in an off-market
transaction. The interest includes all further shares to be issued in relation
to the acquisition of NIKA GmbH and represents approximately 20% of the share
capital 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 good
prospects for growth to continue across its range of products and has been
encouraged by the start to the current financial year. In addition, the Company
is well funded, with cash balances having increased to over £4 million,
following the receipt of the first tranche of consideration in relation to the
divestment 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:
Flomerics
Gary Carter: 0208 487 3000
Keith Butcher: 0208 487 3000
Oriel Securities Limited
Andrew Edwards 020 7710 7618
David Arch 020 7710 7618
This information is provided by RNS
The company news service from the London Stock Exchange
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