PSI Software AG: Share Buyback for the Employee Participation Program
June 14, 2019 at 05:30 am EDT
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DGAP-News: PSI Software AG / Key word(s): Share Buyback
PSI Software AG: Share Buyback for the Employee Participation Program
14.06.2019 / 11:25
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 60,000 of its own shares (this corresponds to approximately 0.38 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 1,020,000.
The share buyback will begin on 14 June 2019 and will be completed by 30 November 2019. 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 May 2019.
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 more than 1,900 persons worldwide. www.psi.de
Contact:
PSI Software AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communication
Dircksenstraße 42-44
10178 Berlin
14.06.2019 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 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
PSI Software AG, formerly PSI Aktiengesellschaft fuer Produkte und Systeme der Informationstechnologie, is a Germany-based company that develops and integrates software for energy suppliers, manufacturers and infrastructure operators. It operates through three segments. The Energy Management segment serves utility companies in the electricity, gas, oil, water, district heating and combined energy sectors, and focuses on solutions for grid management, energy storage, energy trading and virtual power plants. The Production Management segment provides software for production planning, production control and logistics for the metal industry, machinery and plant engineering, the automotive industry and logistics. The Infrastructure Management segment develops control system software for the operation of infrastructure in the areas of rail and road transport and public safety with focus on operation-control technology, depot management and safety and telematics applications.
PSI SOFTWARE SE 
