LEIPZIG, Germany, Dec. 20, 2007 (PRIME NEWSWIRE) -- On 24 August 2007, the General Meeting of Shareholders of PC-WARE Information Technologies AG renewed the mandate granted for the reacquisition of own equity instruments (treasury shares) and authorised the Company to reacquire shares corresponding to a maximum of 10% of the Company's share capital. The aforementioned authorisation was granted until 23 February 2009.
In accordance with previous authorisation granted to PC-WARE AG by the General Meeting of Shareholders, the Company had already reacquired own equity instruments via the stock exchange. Following the latest mandate issued by the General Meeting of Shareholders, the process of reacquiring shares is to be continued.
Partially utilising its latest mandate, the Management Board of PC-WARE AG has decided, with the consent of the Supervisory Board, to acquire up to a maximum of 600,000 own equity instruments via the stock exchange. The own equity instruments are to be acquired at a price which shall be neither ten per cent above or below the arithmetic mean of the shares' XETRA closing prices on the Frankfurt Stock Exchange during the last five days of trading.
Following the purchase of own equity instruments, amongst others the Company will be in a position to utilise its treasury shares for the acquisition of other enterprises or ownership interests. This will enhance its flexibility with regard to future acquisitions.