Berlin, 14 June 2019 – 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:
Based on its own software products, the PSI Group develops and integrates complete solutions for optimizing the flow of energy and materials for utilities (energy networks, energy trading, public transport) and industry (mining, metals production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs more than 1.900 persons worldwide.