18 SOFTWARE AG | INTERIM REPORT 3/2013 6 EVENTS AFTER THE BALANCE SHEET DATE 6.1 SHARE BUYBACK PROGRAM APPROVED Making use of the authorization granted it by the Annual Shareholders’ Meeting on May 3, 2013, Software AG an- nounced on October 25, 2013 its decision to repurchase treasury shares with a total maximum value of €110 million (excluding transaction fees) by May 16, 2014 at the latest. The volume of repurchased treasury shares is limited to no more than 10 percent of the share capital as of May 3, 2013 less other treasury shares that the Company has already purchased and still holds or that are attributable to it in accordance with sections 71d and 71e of the German Stock Corporation Act. As of October 25, 2013, Software AG held a total of 3,966,818 treasury shares representing 4.56 percent of its share capital (entitling the Company to acquire a maximum of 4,724,926 additional treasury shares as of the time of the announcement). The buyback will be executed exclusively on the stock mar- ket through the involvement of a bank that determines the time of the acquisition of shares independently and unin- fluenced of Software AG. The repurchased shares may be used for all purposes permissible by the provisions of stock corporation legislation and by the aforementioned authori- zation. Software AG has obtained approval by the Annual Shareholders’ Meeting many times in the past for the repurchase of shares. The last time was on May 3, 2013. 4 EMPLOYEES As of September 30, 2013, the Software AG Group employed 5,356 (2012: 5,436) people. Of those, the number of em- ployees in Sales and Marketing increased to 1,261 (2012: 1,084) and in Research and Development to 1,005 (2012: 892). The total number of employees in Germany was 1,735 (2012: 1,783) as of September 30, 2013. 5 OPPORTUNITIES AND RISKS There were no changes to the risk situation of the Software AG Group in the third quarter of 2013 as portrayed in the Risk Report of the 2012 Annual Report. Corresponding opportunities are described in the Outlook section of this report and the 2012 Annual Report.