64297 Darmstadt, de
Stock split at Software AG
- In a 3-for-1 split, shareholders will receive three Software AG shares for one current share
- The conversion will take place on May 13, 2011
- Stock orders expire at the end of May 12, 2011
The proposal presented at Software AG's (Frankfurt TecDAX: SOW) Annual General Meeting on May 5, 2011 to implement a stock split at the ratio of three for one was approved.
The share capital of the Company in a 3:1 stock split will results in 86,148,183 bearer shares. Instead of each share representing a proportionate amount of the share capital of 3 EUR, three shares will represent the lowest legal amount of share capital of 1 EUR.
The goal is to make, given the current share price levels, Software AG's shares even more attractive to even broader spectrum of investors and further increase the liquidity of the stock. The price of Software AG's stock has long been well above 100 EUR. The stock appeared expensive when compared to other stock market values. The stock split leads mathematically to reduction in the price of each share to one third.
The conversion will be done at the start of trading on May 13, 2011. There are no costs to shareholders associated with this conversion.
No action by the shareholders in connection with the share split is required; the technical implementation will be handled by the custodian banks. Banks point out that unfulfilled stock orders will expire on May 12, 2011.
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