Beta Systems Software AG

Transaction in Own Shares • Sep 4, 2001

News Details

Ad-hoc | 4 September 2001 08:00

BETA Systems Software english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– BETA SYSTEMS SOFTWARE AG ANNOUNCES INTENTION TO INITIATE SHARE BUY-BACK PROGRAM Berlin, September 4, 2001 – Beta Systems Software AG, Berlin, a leading provider of high performance intelligent data management solutions, today announced that it intends to engage in a share buy-back program. The Management Board of Directors of the Company announced its intention to repurchase shares up to a maximum of 10% of the shares in issue, which currently equals 397,056 shares. Permission to engage in such a program was granted during Beta Systems Software’s Annual Meeting of Shareholders, held on May 23, 2001. The Company declared its intention to repurchase the shares on the open market. Although no such plans currently exist, the shares may be used to fund future acquisitions. end of ad-hoc-announcement (c)DGAP 04.09.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Karl-Joachim Veigel, CEO of Beta Systems Software AG, stated, We feel that our company is significantly undervalued. As announced in our latest earnings release, our financial fundamentals are sound and we believe that the company is in an excellent position to achieve long-term growth once our ‘Eight-Step’ turnaround program is implemented. From this point of view and taking potential acquisitions into account, we believe that, at the current levels, a buy-back is an appropriate use of funds. In addition to the corporate buy-back program, I personally intend to continue to demonstrate confidence and trust in Beta Systems by continuing to purchase shares for myself.” Further details on the execution of the buy-back program will be published once the program is implemented. End of Message