09.12.2015
Fabasoft AG AT0000785407
DGAP-Adhoc: Fabasoft AG decides on Share Buyback
Fabasoft AG / Key word(s): Share Buyback
09.12.2015 13:43
Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Today, after an approval of the supervisory board, the board of management
of Fabasoft AG (the "Company") has resolved to make use of the
authorization of the general meeting on 06 July 2015 for the purchase of
its own shares according to Sec. 65 para. 1 No. 4 and No. 8 Austrian Stock
Corporation Act (Aktiengesetz, AktG). Shares in a maximum total volume
(excluding incidental expenses) of up to EUR 2 Million (in words: EURO two
million) shall be purchased. Based on the current share price level (XETRA,
level as of 09 December 2015) this would amount to around 4.3 % of the
Company's stock capital.
The shares may be used for all the purposes authorised in the General
Meeting on 06 July 2015.
In the view of the current level of interest rates investments with the
available cash funds of the Company cannot be made with an attractive
return. Moreover, the obtainable interest rate level is lower than the
historic dividend yield of the Company.
The share buyback shall be headed by a bank which decides on the date of
the acquisition of the shares independently and without influence by the
Company. The acquisition will be made via the stock exchange in compliance
with capital market regulations, currently in particular the trading
conditions and further provisions on purchase restrictions as well as on
publication requirements of the COMMISSION REGULATION (EC) No. 2273/2003 of
22 December 2003.
The share buyback program will likely start on 02 January 2016 for an
indefinite term, however no longer than 06 January 2018. The share buyback
program will end as soon as the maximum total volume (excluding incidental
expenses) in an amount of EUR 2 Million is reached, if not stopped before
by a resolution of the management board.
Further details will be published by the Company before the start of the
buyback program. Moreover, the Company will provide information on the
share buyback regularly after the start of the program under
www.fabasoft.com, section 'Investors'.
The money used for the share buyback will decrease the available profit for
dividend pay-outs of the Company for the financial year 2015/2016.
Moreover, the creation of a respective accumulated income will be necessary
to ensure the implementation.
Fabasoft AG (ISIN AT0000785407; WKN 922985; Bloomberg Code FAA GY; Reuters
Code
FAAS.DE)
Linz, 9 December 2015
Leopold Bauernfeind, Member of the Managing Board
E-mail: [email protected], Telephone: +43 732 60 61 62
09.12.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Fabasoft AG
Honauerstraße 4
4020 Linz
Austria
Phone: +43 732-606162-0
Fax: +43 732-606162-609
E-mail: [email protected]
Internet: www.fabasoft.com
ISIN: AT0000785407
WKN: 922985
Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of Announcement DGAP News-Service
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Software , 922985 , FAA , XETR:FAA