Share Buyback 2016-2017
Share Buyback of Fabasoft AG
Here are the current details to Fabasoft's share buyback: Open overview (PDF)
Ad Hoc Announcement 9 December 2015 - Fabasoft AG decides on Share Buyback
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: Leopold.Bauernfeind@fabasoft.com, Telephone: +43 732 606162