Fabasoft AG Announces Share Buyback Plan

On August 13, 2024, Fabasoft AG, based in Linz, disclosed its decision to initiate a share buyback program. This decision was made by the Managing Board with the approval of the Supervisory Board. The authorization for this buyback was granted by the Annual General Meeting held on July 2, 2024. The company plans to acquire shares worth up to EUR 2 million, representing approximately 1.3% of its share capital based on the current share price.

The buyback will be managed by a bank acting independently of the company. It will comply with the safe harbor provisions specified in the EU Regulation No. 596/2014. The buyback is set to begin on August 15, 2024, and will continue until September 30, 2025. Additional specifics will be provided before the commencement of the program.