Berlin, May 13, 2022 – The Executive Board of PSI Software AG (ISIN DE000A0Z1JH9) decided to buy back up to 200,000 of its own shares (this corresponds to approximately 1.27 percent of the capital stock) through the stock exchange for the implementation of this year’s employee participation program and, in particular, for the redemption of shares with reduction of the share capital.
The share buyback complies with rules and regulations set forth in Sec. 71 (1) No. 8 AktG (Aktiengesetz − German Stock Corporation Act) as authorized by the Annual General Meeting on June 9, 2020. The shares may be used for all the purposes authorised in the General Meeting. The total purchase price (excluding incidental costs) is up to EUR 6,000,000.
The share buyback will start after the dividend payment has been made on May 25, 2022 and will be completed by December 31, 2022at the latest. It will be carried out by an independent financial service provider in accordance with the safe harbor 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:
The PSI Group develops its own software products for optimizing the flow of energy and materials for utilities (energy grids, energy trading, public transport) and industry (metals production, automotive, mechanical engineering, logistics). The industry-specific products, which are built from standard components, are sold both directly and via the multi-cloud PSI App Store and can also be customized by customers and partners themselves. PSI was founded in 1969 and employs more than 2,200 people worldwide.