SAP AG: Veröffentlichung gemäß § 30e WpHG mit dem Ziel der europaweiten Verbreitung

SAP AG / Drittstaatveröffentlichung nach § 30e Abs. 1, Nr.3 WpHG

Veröffentlichung einer Zulassungsfolgepflichtmitteilung nach § 30e Abs. 1,
Nr. 3 WpHG, übermittelt durch die DGAP - ein Unternehmen der EquityStory
AG.
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
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Im Zusammenhang mit dem von SAP France S.A., eine société anonyme nach
französischem Recht und eine 100-prozentige Tochtergesellschaft der SAP AG,
und SAP AG (Namen der Bieter: SAP France S.A. und SAP AG) abgegebenen
öffentlichen Angebot nach US-amerikanischem Recht für die Wertpapiere von
Business Objects S.A. (Name der Zielgesellschaft), wurden am 18. Januar
2008 im Namen von SAP AG (und SAP France S.A.) die folgenden Dokumente bei
der US-amerikanischen Börsenaufsichtsbehörde SEC eingereicht:


Ein Form 3 (Initial statement of beneficial ownership of securities) ('Form
3') und ein Form 4 (Statement of changes in beneficial ownership) ('Form
4').
Dieses eingereichte Form 3 enthält die folgenden Informationen: 


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934. 
The name and address of the reporting person is SAP AG, Dietmar-Hopp-Allee
16, 69190 Walldorf, Federal Republic of Germany.  SAP France S.A., 23/25,
rue Delarivière Lefoullon, La Défense 9, Paris, France 92064 is a joint
filer (SAP France together with SAP AG, the 'Reporting Persons').  The date
of the event requiring statement is January 15, 2008.  The issuer name and
ticker symbol is Business Objects S.A. (BOBJ).  The relationship of each
Reporting Person to the issuer is based on ten percent owner status.
 
Pursuant to a Tender Offer Agreement dated October 7, 2007, by and between
SAP AG and Business Objects S.A. ('Business Objects'), SAP France S.A.
('SAP France'), a wholly owned subsidiary of SAP AG, commenced a tender
offer on December 4, 2007 for all of the outstanding ordinary shares,
nominal value EUR0.10 per share (the 'Shares'), of Business Objects,
including ordinary shares represented by American Depositary Shares
('ADSs'), as well as the outstanding warrants to acquire Shares
('Warrants') and convertible bonds convertible or exchangeable into new or
existing Shares ('ORNANEs,' and together with the Shares, ADSs and
Warrants, 'Securities'), issued by Business Objects through concurrent
offers in the United States (the 'U.S. Offer') and in France (the 'French
Offer' and together with the U.S. Offer, the 'Offers').  The initial
offering period for the U.S. Offer expired at 9:00 a.m. New York City time
on Tuesday, January 15, 2008, at which time approximately 87,640,403 Shares
(comprised of 74,687,474 Shares and 12,952,929 ADSs) had been validly
tendered and not withdrawn pursuant to the Offers, which were accepted for
purchase by SAP France.  The reported Securities are owned directly by SAP
France, which is a wholly owned subsidiary of SAP AG.  SAP AG is indirect
beneficial owner of the reported Securities.
 
The Offers for all outstanding Warrants of Business Objects included
warrants to acquire Shares issued on June 5, 2007 ('2007 Warrants'), on
July 20, 2006 ('2006 Warrants'), on July 21, 2005 ('2005 Warrants'),  on
June 15, 2004 ('2004 Warrants') and on July 22, 2003 ('2003 Warrants' ). 
As of the expiration of the U.S. Offer on January 15, 2008, 210,000 2007
Warrants had been validly tendered and not withdrawn pursuant to the Offers
and were accepted for purchase by SAP France.  45,000 2006 Warrants had
been validly tendered and not withdrawn pursuant to the Offers and were
accepted for purchase by SAP France.  90,000 2005 Warrants had been validly
tendered and not withdrawn pursuant to the Offers and were accepted for
purchase by SAP France.  195,000 2004 Warrants had been validly tendered
and not withdrawn pursuant to the Offers and were accepted for purchase by
SAP France.  45,000 2003 Warrants had been validly tendered and not
withdrawn pursuant to the Offers and were accepted for purchase by SAP
France.  The original terms of the Warrants provide for the following
vesting: (a) 2007 Warrants: 15,000 Shares on or after July 1, 2007, 60,000
Shares on or after June 1, 2008, 75,000 Shares on or after June 1, 2009,
and 60,000 Shares on or after June 1, 2010; (b) 2006 Warrants: 15,000
Shares on or after June 1, 2007, 15,000 Shares on or after June 1, 2008,
and 15,000 Shares on or after June 1, 2009; (c) 2005 Warrants: 30,000
Shares on or after June 1, 2006, 30,000 Shares on or after June 1, 2007,
and 30,000 Shares on or after June 1, 2008; (d) 2004 Warrants: 35,000
Shares on or after July 1, 2004, 65,000 Shares on or after June 1, 2005,
50,000 Shares on or after June 1, 2006 and 45,000 Shares on or after June
1, 2007; and (e) 2003 Warrants: 17,500 Shares on or after June 1, 2004,
17,500 Shares on or after June 1, 2005, and 10,000 Shares on or after June
1, 2006.  The 2007 Warrants expire on June 5, 2014.  The 2006 Warrants
expire on July 20, 2013.  The 2005 Warrants expire on July 21, 2012.  The
2004 Warrants expire on June 15, 2009.  The 2003 Warrants expire on January
27, 2009.  The exercise price for the 2007 Warrants is 29.99 euros per
Share.  The exercise price for the 2006 Warrants is 22.31 euros per Share. 
The exercise price for the 2005 Warrants is 23.13 euros per Share.  The
exercise price for the 2004 Warrants is 17.04 euros per Share.  The
exercise price for the 2003 Warrants is 19.45 euros per Share.
 
As of the expiration of the U.S. Offer on January 15, 2008, 2,154,793 2.25%
Convertible Bonds (ORNANEs) due January 1, 2027, had been validly tendered
and not withdrawn pursuant to the Offers and were accepted for purchase by
SAP France.  Pursuant to the terms of a prospectus (the 'French
Prospectus') approved under visa number 07-140 issued May 3, 2007 by the
Autorité des marchés financiers (the 'AMF'), an English translation of the
terms and conditions of which was filed by Business Objects with the US
Securities and Exchange Commission (the 'SEC') on Form 8-K on May 16, 2007,
the ORNANEs are, subject to certain specified conditions at specified
times, exercisable after May 11, 2009 or during the period during which a
registration statement becomes or is declared effective by the SEC and is
available for use in connection with the exercise of the conversion right,
until the seventh French business day preceding the redemption date at
maturity.  Upon conversion of each ORNANE, 42.15 euros would be payable in
cash, and the amount payable in shares would be 0.202325238 Shares.  The
consideration payable in Shares (0.202325238 Shares per ORNANE) is
calculated by taking (A) the product of (1) the issue price of the ORNANES
(42.15 euros) and (2) the interpolated conversion ratio (1.201605219) minus
(B) the issue price of tube ORNANES (42.15 euros) divided by (C) the offer
price per Share (42.00 euros).  Thus the formula is ((42.15 x 1.201605219)
- 42.15)/42.00.

Dieses eingereichte Form 4 enthält die folgenden Information:

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934. 
The name and address of the reporting person is SAP AG, Dietmar-Hopp-Allee
16, 69190 Walldorf, Federal Republic of Germany.  SAP France S.A. ('SAP
France'), 23/25, rue Delarivière Lefoullon, La Défense 9, Paris, France
92064 is a joint filer (SAP France together with SAP AG, the 'Reporting
Persons').    The issuer name and ticker symbol is Business Objects S.A.
(BOBJ).   The date of the earliest transaction required to be reported is
January 16, 2008.  The relationship of each Reporting Person to the issuer
is based on ten percent owner status.

Pursuant to a Tender Offer Agreement dated October 7, 2007, by and between
SAP AG and Business Objects S.A. ('Business Objects'), SAP France, a wholly
owned subsidiary of SAP AG, commenced a tender offer on December 4, 2007
for all of the outstanding ordinary shares, nominal value EUR0.10 per share
(the 'Shares'), of Business Objects, including ordinary shares represented
by American Depositary Shares ('ADSs'), as well as the outstanding warrants
to acquire Shares ('Warrants') and convertible bonds convertible or
exchangeable into new or existing Shares ('ORNANEs,' and together with the
Shares, ADSs and Warrants, 'Securities'), issued by Business Objects
through concurrent offers in the United States (the 'U.S. Offer') and in
France (the 'French Offer' and together with the U.S. Offer, the 'Offers').
The initial offering period for the U.S. Offer expired at 9:00 a.m. New
York City time on Tuesday, January 15, 2008, at which time approximately
87,640,403 Shares (comprised of  74,687,474  Shares and 12,952,929 ADSs)
had been validly tendered and not withdrawn pursuant to the Offers, which
were accepted for purchase by SAP France.
 
On January 16, 2008, SAP France acquired 2,240,442 Shares, bringing the
total amount of Shares beneficially owned following the reported
transaction to 76,927,916.  On January 17, 2008, SAP France acquired
698,768 Shares, bringing the total amount of Shares beneficially owned
following the reported transaction to 77,626,684.  On January 16, 2008, SAP
France acquired 702 ADSs, bringing the total amount of ADSs beneficially
owned following the reported transaction to 12,953,631.  These Shares and
ADSs are owned directly by SAP France S.A., which is a wholly owned
subsidiary of SAP AG.  SAP AG is indirect beneficial owner of the reported
Securities.  The price per Share is 42.00 euros net per Share.  The price
per ADS is an amount in U.S. dollars equal to 42.00 euros net per ADS (as
determined using the euro foreign exchange reference rate published by the
European Central Bank on or about 2:15 p.m. CET, 8:15 a.m. EST, on January
17, 2008).

The reported Securities are owned directly by SAP France, which is a wholly
owned subsidiary of SAP AG.  SAP AG is indirect beneficial owner of the
reported Securities.   SAP France is providing a subsequent offering
period, which commenced Wednesday, January 16, 2008 and which expires at
5:00 p.m. New York City time on Tuesday, January 29, 2008.  The reported
acquisition of ADSs was made by acceptance by SAP France of ADSs tendered
pursuant to the US Offer during the subsequent offering period.  The
reported acquisition of Shares was made by market purchases on Euronext by
SAP France pursuant to the French Offer during the subsequent offering
period.

Diese eingereichten Form 3 und Form 4 sind auf der Website der SAP AG unter
http://www.sap.com/about/investor/bobj.epx verfügbar.

19.01.2008  Finanznachrichten übermittelt durch die DGAP
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Sprache:      Deutsch
Emittent:     SAP AG
              Dietmar-Hopp-Allee 16
              69190 Walldorf
              Deutschland
Internet:     www.sap.com
 
Ende der Mitteilung                             DGAP News-Service
 
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