Ad-hoc | 6 March 2017 19:53
Software AG / Key word(s): Share Buyback/Corporate Action
06-March-2017 / 19:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc Disclosure (Inside Information according to Article 17 MAR)
Software AG decides to cancel treasury shares and decides on new share
buyback
Software Aktiengesellschaft (TecDAX, ISIN DE 0003304002 / SOW) has decided
today to cancel 2,600,000 treasury shares and to buyback own shares in a
value up to EUR 100 million (excluding ancillary acquisition costs).
1) The Management Board of Software AG decided on the basis of the
authorization of the General Assembly of Software AG of May 31, 2016 to
redeem 2,600,000 treasury shares which had been acquired by the company
based on various buy-back authorizations with the effect of decreasing
share capital. This corresponds to 3.29 percent of the share capital
before redemption and capital decrease.
The share capital of Software AG will amount after the redemption to EUR
76,400,000 and will be divided into 76.4 million shares with a proportional
share in the share capital amounting to EUR 1.00 per share. The redemption
is expected to be completed shortly.
2) Software AG's Management Board today decided, on the basis of the
authority granted by the general meeting of May 31, 2016 and with the
approval of the supervisory board, to conduct a buyback of own shares
in a value of up to EUR 100 million (excluding ancillary acquisition
costs) during the period until May 15, 2017 at the latest. Based on the
Xetra closing rate on March 6, 2017 of EUR 34.765 this equates to a
volume of up to approx. 2,876,456 shares. The limit for a share buyback
is 10 percent of the share capital as of the date of the resolution
less other treasury shares, which the Company has previously purchased
or still holds or which are attributable to it under the provisions of
§§ 71d and 71e AktG (German Stock Corporation Act), which equals
7,623,163 shares. It is intended that the share buyback will be
conducted through a bank and exclusively on the stock exchange. The
shares bought back may be used for all purposes permissible under the
above mentioned authority and applicable stock corporation law.
Darmstadt, March 6, 2017
The Management Board
Software AG, Uhlandstr. 12, 64297 Darmstadt
Contact:
Person making the notification:
Frederic Freichel
Junior Manager Investor Relations
Email: frederic.freichel@softwareag.com
Tel: +49 6151 92 1899
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Language: English
Company: Software AG
Uhlandstraße 12
64297 Darmstadt
Germany
Phone: +49 (0)6151 92-1900
Fax: +49 (0)6151 92-34 1899
E-mail: Investor.Relations@softwareag.com
Internet: www.softwareag.com
ISIN: DE0003304002
WKN: 330400
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service