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Renishaw PLC on Wednesday said the family of its founders David McMurtry and John Deer, currently a non-executive director, have set up a new company to hold their majority stake in Renishaw. The Gloucestershire, England-based firm supplies manufacturing technologies, analytical instruments, and medical devices. Its stock rose 0.2% to 3,415.00 pence per share on Wednesday morning in London. Deltam Holdings Ltd owns 50.25% of Renishaw, mainly via shares previously held by McMurty and Deer trustees, who have swapped their Renishaw stock for shares in Deltam. Some family members personally retain a combined 2.64% stake in Renishaw, separate to the Deltam arrangement. Trusts established to benefit Richard McMurtry, Ben McMurtry and Yvette Pridmore own about 72% of Deltam, while Deer representatives hold the remaining 28%. Renishaw has framed the holding company as the means for ‘a generational transfer of the business within the families, reaffirming their commitment to Renishaw and their intention to be long term shareholders.’ The two families plan to run Deltam ‘to replicate as closely as possible’ a voting arrangement disclosed in October, when the late David McMurtry’s shares were transferred to trustees. This arrangement saw the Deers agree to vote in favour of resolutions proposed by the McMurty family. It has been terminated in the process of setting up Deltam. This means both Deer and McMurty representatives can require all Renishaw shares held by Deltam to be voted in favour of a given resolution. If there is disagreement, ‘then the Deltam board shall cast the votes as it sees fit,’ Renishaw noted. The company has agreed that, as long as Deltam continues to own more than 50% of Renishaw, it does not need to make a mandatory offer, as usually required by UK takeover regulations. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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