SAP Expects Subscription Rights to SAP Shares to be Exercised on February 15 and Plans to Buy Back Shares
SAP SE / Key word(s): Miscellaneous/Share Buyback
14.02.2011 08:29
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
WALLDORF, Germany - February 14, 2011 - SAP AG (NYSE: SAP) today announced that it expects subscription rights to SAP shares to be exercised on February 15, 2011. The subscription rights that are expected to be exercised arise under the Company's Long Term Incentive Plan 2000, in which stock options and convertible bonds bearing subscription rights to SAP shares were given to executives and employees of SAP Group. As a result, up to a total of 3.45 million SAP shares will be received and sold into the market on the same day. SAP will primarily use treasury shares to service the subscription rights.
The SAP Executive Board has decided to buy back from the open market on the same day (February 15, 2011) the quantity of shares needed to replenish the treasury stock that was used to service the subscription rights.
The Company was granted approval to buy back shares at the Annual General Meeting of Shareholders on June 8, 2010, which authorized the Executive Board to buy back up to 120 million SAP shares on or before June 30, 2013. The decision regarding the precise number and timing of any buyback of shares for treasury is subject to change, depending on market conditions.
Information and Explanation of the Issuer to this News:
For more information, press only:
Christoph Liedtke +49 (6227) 7-50383 christoph.liedtke@sap.com, CET Guenter Gaugler +49 (6227) 7-65416 guenter.gaugler@sap.com, CET Jim Dever +1 (610) 661-2161 james.dever@sap.com, ET
For more information, financial community only:
Stefan Gruber +49 (6227) 7-44872 investor@sap.com, CET Marty Cohen +1 (212) 653-9619 investor@sap.com, ET
14.02.2011 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: SAP SE
Dietmar-Hopp-Allee 16
69190 Walldorf
Germany
Phone: +49 (0)6227 - 74 74 74
Fax: +49 (0)6227 - 75 75 75
E-mail: investor@sap.com
Internet: www.sap.com
ISIN: DE0007164600
WKN: 716460
Indices: DAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich; Terminbörse EUREX; NYSE
End of Announcement DGAP News-Service