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Publication pursuant to Article 4 (4) of the Regulation (EC) 2273/2003 - Closing Declaration
here
Overview of share buyback activities under the share buyback program:
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The Management Board of USU Software AG has decided, with the approval of the Supervisory Board on May 29, 2008 based on the sound capital resources available and changes in liquidity, to acquire up to 2.52% of the Company's share capital, i.e. up to 260,000 shares of the Company, in the period from May 29, 2008 to January 11, 2009 via the electronic marketplace of the Frankfurt Stock Exchange (XETRA). At the current share price, this corresponds to a total of around EUR 1 million.
This share buyback is based on the authorization granted by the Annual General Meeting of USU Software AG on July 12, 2007 to acquire own shares in accordance with Article 71 (1) No. 8 of the Aktiengesetz (AktG - German Stock Corporation Act). Shares bought back in this way are to be used to reduce the share capital.
Landesbank Baden-Württemberg (LBBW) has been commissioned to carry out the buybacks, complying with the trading conditions stipulated under Article 5 of European Commission Regulation (EC) No. 2273/2003 of December 22, 2003. In accordance with the provisions of Article 5 (3) of this Regulation, more than 25% may be acquired per day but no more than 50% of the average daily transaction volume of USU shares. The average daily transaction volume must be derived from the average daily trading volume on the 20 trading days prior to the purchase date. LBBW will decide on when to acquire the Company shares independently, without influence and not bound by instructions insofar as the legal guidelines and requirements of USU Software AG regarding volume and validity of the orders are complied with. The payment in exchange for acquisition of the share may neither exceed the average closing price of the Company's shares in electronic trading on the Frankfurt Stock Exchange during the ten trading days preceding the acquisition by 10% nor may it fall below this price by 10%.
If the authorization to acquire own shares in accordance with Article 71 (1) No. 8 of the AktG dated July 12, 2007 is replaced at the next Annual General Meeting on June 19, 2008 by a new authorization, the share buyback program will also be able to continue after January 11, 2009.
Here USU Software AG will regularly publish information on the progress of the share buyback program.
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