Berlin, 6 February 2018 – The Executive Board of PSI Software AG (ISIN DE000A0Z1JH9) decided on 5 February 2018 to buy back up to 25,000 of its own shares (this corresponds to approximately 0.16 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 450,000.
The share buyback will begin on 6 February 2018 and will be completed by 30 April 2018. 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:
On the basis of its own software products, PSI Group develops and integrates complete solutions for energy management (energy networks, energy trading), production management (mining, metals, automotive, mechanical engineering, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs 1,650 persons worldwide.