RCS - PSI Software AG - Share Buyback for Employee Participation Program

PSI Software SEAnnouncement

13/03/2020 11:05

RNS Number : 1032G
  
PSI Software AG
  
13 March 2020
  
 




PSI Software AG / Key word(s): Share Buyback

PSI Software AG: Share Buyback for the Employee Participation Program



13.03.2020

The issuer is solely responsible for the content of this announcement.
 
PSI Software AG: Share Buyback for the Employee Participation Program
The Executive Board of PSI Software AG (ISIN DE000A0Z1JH9) decided 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 Software AG. The total purchase price (excluding incidental costs) is up to EUR 800,000.
The share buyback will begin on 16 March 2020 and will be completed by 30 April 2020. 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 February 2020.
On the basis of its own software products, PSI Group develops and integrates complete solutions for optimizing the flow of energy and material at suppliers (energy networks, energy trading, public passenger transport) and industry (raw material extraction, metal production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs 2,000 persons worldwide. www.psi.de





Contact:
PSI Software 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

Email: KPierschke@psi.de
 
 
13.03.2020 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.



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Language:


English




Company:


PSI Software AG








Dircksenstraße 42-44








10178 Berlin








Germany




Phone:


+49 (0)30 2801-0




Fax:


+49 (0)30 2801-1000




E-mail:


ir@psi.de




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




EQS News ID:


996897



 











End of News


DGAP News Service





 


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