Software AG

  • WKN: A2GS40
  • ISIN: DE000A2GS401
  • Land: Germany

Nachricht vom 28.02.2003 | 12:32

Software AG english

Software AG to fully retain fiscal 2002 earnings

Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.

----- The Supervisory Board of Software AG has today resolved to fully retain fiscal 2002 earnings. This move is designed to strengthen the Company`s equity base and to improve cash flow, increasing competitiveness. Software AG`s strategic goal is to translate its proven technological expertise into new software products. The investment funds required for further growth will be sourced entirely from operating cash flow. It is stated Company policy to finance investment without resorting to borrowing. Moreover, seeking to raise capital via the stock market is inadvisable in the current climate. At the same time, the prolonged downturn in the IT industry makes further cost- savings a necessity. The restructuring program initiated in 2002 will therefore be continued in 2003. The aim is to align the cost base with the current level of revenue, and to achieve a lasting improvement in profitability. Software AG will present the audited financial statements for fiscal 2002 at a press conference to be held in Frankfurt on March 6. New member of the Executive Board: The Supervisory Board has appointed Dr. Peter Mossack, Vice President Research and Development of Software AG, to the Executive Board as a deputy member. end of ad-hoc-announcement (c)DGAP 28.02.2003
----- WKN: 724264; ISIN: DE0007242646; Index: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 281232 Feb 03

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