LONDON (dpa-AFX) - Renishaw plc (RSW.L) said its founders Sir David McMurtry and John Deer, Executive Chairman and Non-Executive Deputy Chairman, respectively have indicated to the Board their intention to sell their very substantial shareholdings in Renishaw.
Together, the Founders, and certain persons connected with them, own about 53% of the issued share capital of the company and have expressed a preference for the disposal of their entire combined shareholding, the company stated.
Further, the company noted that the Board has considered various options with its advisers. In considering these options the Board, including the Founders, has had regard to the interests of all the company's stakeholders. 'The Board has unanimously concluded that it would be appropriate to investigate the sale of the Company and is therefore launching a formal sale process for the Company.'
The Board intends to seek a buyer. UBS is acting as sole financial adviser and corporate broker to the company in relation to the sale process.
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