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SAG QB3 2013, englisch

33 05 INTERIM MANAGEMENT REPORT 20 INTERIM FINANCIAL STATEMENTS 28 NOTES TO THE INTERIM FINANCIAL STATEMENTS 44 SERVICE GENERAL 28 NOTES TO THE CONSOLIDATED BALANCE SHEET 32 OTHER DISCLOSURES 34 Share buyback As part of the share buyback program, which was approved by the Management Board with the consent of the Super­visory Board on February 7, 2013, 3,924,441 treasury shares were purchased at an average price of €29.27 by April 30, 2013. Software AG thus held a balance of 3,966,818 treasury shares as of September 30, 2013 for a total price of €116,025,780 thou- sand (excluding transaction costs). This represents 4.56 percent of Software AG’s share capital. On April 30, 2013 Software AG announced the conclusion of the share buyback program which had been approved on February 7, 2013. Making use of the authorization granted it by the Annual Shareholders’ Meeting on May 3, 2013, Software AG announced 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 market through the involvement of a bank that determines the time of the acquisition of shares independently and uninfluenced of Software AG. The repurchased shares may be used for all purposes permissible by the provisions of stock corporation legislation and by the aforementioned authorization. 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.