SOFTWARE AG | ANNUAL REPORT 2012 150 The repurchase has been underway since February 12, 2013 with the involvement of a bank that determines the time of the acquisition of shares independently and uninfluenced of Software AG. It takes place solely on the stock exchange. The repurchased shares may be used for all purposes per- missible by the provisions of stock corporation law and by the aforementioned authorization: i. to service warrants and convertible bonds; ii. to sell to third parties for the purpose of acquiring companies, parts of companies and/or interests in companies or as part of a corporate merger; iii. to cancel shares with or without lowering the share capital. Software AG had acquired 777,078 shares at an average price of €29.75 as of February 27, 2013. Software AG thus held a total of 819,455 shares as of February 27, 2013 for a consideration paid of €24,273 thousand (excluding trans- action costs). The treasury shares held on February 27, 2013 represent €819,455, or 0.9 percent, of the Company’s share capital.