Fabasoft AG / Share Buyback
10.03.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Resolution of the Managing Board of Fabasoft AG on 10 March 2008
I. At the Annual General Meeting of Fabasoft AG on 26 June 2007 the
Managing Board of Fabasoft AG was authorised to effect a repurchase of own
shares pursuant to Art 65 Para 1 Section 4 and/or Art 65 Para 1 Section 8
of the Austrian Stock Corporation Act covering up to but no more than 10 %
of the company's share capital. This authorisation is valid for 18 months.
Repurchase pursuant to this authorisation must not exceed three times the
rate at the close of Xetra trading at the Deutsche Börse AG (German Stock
Exchange) on 26 June 2007 with the minimum rate at the calculation value of
1.00 per share.
The resolution of the Annual General Meeting pursuant to Art 65 Para 1 No 4
and No 8 of the Stock Corporation Act was published on 22 February 2008 in
the Amtsblatt zur Wiener Zeitung (Austrian Official Gazette).
II. The Managing Board of Fabasoft AG today resolves to utilise the
authorisation granted by the Annual General Meeting of the company on 26
June 2007 to repurchase shares covering up to a maximum of 10 % of the
company's share capital, presently corresponding to up to 946,460 ordinary
bearer shares, pursuant to the content of this resolution of the Managing
Board.
In connection with this the Managing Board resolves the following specified
repurchase programme:
1. The repurchase programme commences on 17 March 2008 and it is
anticipated to continue until 31 August 2008.
2. The repurchase programme concerns Fabasoft AG's ordinary bearer shares
(uniform class of shares).
3. The intended volume of the repurchase of the company's own shares is up
to 100,000 ordinary bearer shares of Fabasoft AG.
4. Pursuant to a resolution of the Annual General Meeting of 26 June 2007
the lowest repurchase consideration per share is 1.00 and the highest
repurchase consideration is three times (maximum) the rate at the close
of Xetra trading at the Deutsche Börse AG on 26 June 2007.
5. The manner and purpose of repurchase of own shares in this repurchase
programme is specified as follows: the repurchase of Fabasoft AG's
shares by virtue of this repurchase programme shall take place via the
Frankfurt Stock Exchange, exclusively via financial institutions. The
purpose of this repurchase of the company's own shares is the issuance
to Fabasoft AG employees and members of the board pursuant to Art 65
Para 1 Section 8 of the Austrian Stock Corporation Act; Fabasoft AG
does, however, also reserve the right to utilise the repurchased shares
for other purposes within the meaning of Art 65 Para 1 Section 8 of the
Austrian Stock Corporation Act, for example for supporting the Group's
expansion strategy or, where appropriate, to withhold the shares.
However, trading with own shares for profit-making purposes is strictly
excluded.
6. The resolution of the Annual General Meeting of Fabasoft AG on 26 June
2007, in which the authorisation to repurchase own shares was granted,
was published in the Amtsblatt zur Wiener Zeitung (Austrian Official
Gazette) on 22 February 2008.
The date of the resolution of the Annual General Meeting pursuant to Art 65
Para 1 No 4 and Art 65 Para 1 No 8 of the Stock Corporation Act was 26 June
2007.
Fabasoft AG shall fulfil its duties of publication as specified, in
particular also by publishing information on the Fabasoft AG website
www.fabasoft.com, which is accessible to the public.
Linz, 10 March 2008 Managing Board Fabasoft AG
Fabasoft AG (ISIN AT0000785407; WKN 922985; Bloomberg Code FAA GY; Reuters
Code FAAS.DE).
Leopold Bauernfeind, Member of the Managing Board
E-mail: Leopold.Bauernfeind@fabasoft.com, Telephone: +43 732 60 61 62
DGAP 10.03.2008
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Language: English
Issuer: Fabasoft AG
Honauerstraße 4
4020 Linz
Österreich
Phone: +43 732 606 162
Fax: +43 732 606 162--609
E-mail: Leopold.Bauernfeind@fabasoft.com
Internet: www.fabasoft.com
ISIN: AT0000785407
WKN: 922985
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: Fabasoft AG announces share repurchase programme
| Source: EQS Group AG