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Software AG GB 2013. englisch

Broad coverage through interna- tional broker firms Software AG maintains close, ongoing interaction with stock market analysts, whose assessments provide a key founda- tion for investment decisions among all types of investors. Twenty-six investment banks were reporting on Software AG at the end of January 2014. Their investment appraisals were largely positive, with 14 recommendations to buy, seven neutral recommendations and five recommendations to sell. Their average target share price was €30. Expansion of target-specific ­investor communication Software AG’s investor relations activities not only focus on continuously raising awareness about Software AG as an attractive investment. Consistently counteracting mis­ understandings in the capital market, embracing feedback from target groups and pursuing innovative means of com- munication are also components of investor relations at Software AG. Each year Software AG’s Investor Relations team commis- sions an external service provider to survey a representative cross section of at least 40 active analysts and investors using a wide variety of questions on the quality of the Com- pany’s investor relations work. The most recent survey, conducted in October 2013, con- firmed the quality of interaction with the Investor Relations department. It will step up information on the Company’s Software AG Foundation 29% USA 23% Not identified private and institutional investors 25% France 7% Benelux 6% Scandinavia 8% U.K. 14% * Source: ThomsonOne, January 2014. Treasury shares 9% Rest World 12% Germany 30% Shareholder structure by investor group Shareholder structure by region Public funds/ institutional investors 37%* Software AG | Annual Report 2013 36 Letter from the Management Board About Software AG Highlights 2013 Software AG Share