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PSI Software SE
Transaction in Own Shares • Jan 30, 2017
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Transaction in Own Shares
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Corporate | 30 January 2017 15:51
PSI AG: Share Buyback for the Employee Participation Program
DGAP-News: PSI Aktiengesellschaft für Produkte und Systeme der Informationstechnologie / Key word(s): Share Buyback
30.01.2017 / 15:51
The issuer is solely responsible for the content of this announcement.
PSI AG: Share Buyback for the Employee Participation Program
The Executive Board of PSI AG (ISIN DE000A0Z1JH9) decided on 27 January 2017 to buy back up to 50,000 of its own shares (this corresponds to approximately 0.32 percent of the capital stock) through the stock exchange for the implementation of this years employee participation program.
The share buyback complies with rules and regulations set forth in Sec. 71 (1) No. 2 AktG (Aktiengesetz − German Stock Corporation Act). It serves solely to fulfil the obligations arising from the employee share capital program of PSI AG. The total purchase price (excluding incidental costs) is up to EUR 610,000.
The share buyback will begin on 30 January 2017 and will be completed by 30 April 2017. It will be carried out by an independent financial service provider in accordance with the safe harbour rules defined under Article 5 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council dated 16 April 2014, in conjunction with the provisions of the Delegated Regulation (EU) 2016/1052 of the Commission dated 8 March 2016. In particular, the financial services provider is required to execute the repurchase of shares as follows:
1. The shares are purchased at market prices in accordance with the aforementioned regulations. The shares are not purchased at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out.
2. On any trading day, no more than 25 percent of the average daily volume of the shares on the trading venue on which the purchase is carried out is purchased. The average daily volume is based on the average daily volume traded during the month preceding the month, in which the publication of the share buyback program took place, that means, on the average daily trading volume in December 2016.
On the basis of its own software products, PSI AG develops and integrates complete solutions for energy management (energy networks, energy trading), production management (mining, metals, automotive, mechanical engineering, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs 1,650 persons worldwide. www.psi.de
Contact:
PSI AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Phone +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: [email protected]
30.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | PSI Aktiengesellschaft für Produkte und Systeme der Informationstechnologie |
| Dircksenstraße 42-44 | |
| 10178 Berlin | |
| Germany | |
| Phone: | +49 (0)30 2801-0 |
| Fax: | +49 (0)30 2801-1000 |
| E-mail: | [email protected] |
| Internet: | www.psi.de |
| ISIN: | DE000A0Z1JH9 |
| WKN: | A0Z1JH |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |