Regulatory
Announcement
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RNS Number:0341U
SQS Software Quality Systems AG
30 March 2007
| Immediate Release | 30 March 2007 |
SQS Software Quality Systems AG
Update on the dividend payment
In the announcement of its preliminary results for the year ended 31 December
2006, SQS stated that it was exploring suitable means of returning capital to
shareholders. The Company explained that, under German law, it would be
necessary to undertake some limited reorganisation of its net asset base in
order to pay a dividend to shareholders.
It now seems likely that this reorganisation will not be complete in order to
enable the Company to pay a dividend in respect of its 2006 financial year.
However, as stated at the time of its announcement of its preliminary results,
the Company intends to return an equivalent amount of capital to its
shareholders through alternative means. Given the recent issue of new SQS shares
to satisfy demand in the market, SQS no longer considers that a share buy back
is an appropriate mechanism.
Therefore, the Company now proposes to pay an enhanced dividend for its 2007
financial year which will incorporate both the return of capital for its 2006
financial year and the dividend which the directors currently expect to be able
to pay for the Company's 2007 financial year. This enhanced dividend will be
paid following the announcement of its preliminary results for the year ended 31
December 2007 and the AGM planned for May 2008. Further details will be given at
that time.
The Directors are confident that there will be no structural issue that will
prevent the payment of a dividend to shareholders in respect of the 2007 and
future financial years and, in respect of these years, SQS proposes to operate a
dividend policy in line with earnings.
| For further information please contact: | |
| SQS Software Quality Systems AG | www.sqs.de or www.sqs-uk.com |
| Rudolf van Megen (CEO) / Rene Gawron (CFO) | +49 (2203) 91 54 50 |
| Altium | 020 7484 4040 |
| Nick Tulloch | |
| Smithfield | 020 7360 4900 |
| Reg Hoare / Tania Wild | |
www.vismedia.co.uk
Notes to Editors:
SQS is the largest independent European provider of software testing and quality
management services. SQS consultants design and oversee quality management
processes during software and IT systems development, and test the resulting
products for errors and omissions.
Headquartered in Cologne, Germany, SQS now has operations across Europe and in
South Africa with over 750 employees. SQS has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London, Woking, Birmingham, Manchester), Ireland, Netherlands, Switzerland, Austria and South
Africa. SQS also has a minor stake in an operation in Portugal and a partnership
operation in Spain.
With over 4,000 completed projects under its belt, SQS has a strong customer
base including half of the DAX 30 companies and 30% of the STOXX-50. They
include names like Lloyds TSB, Deutsche Telekom, Barclays, BP, Credit Suisse,
Daimler Chrysler, and Airbus spread across the full range of industries.
SQS is the first German company with a primary listing on AIM and completed its
IPO in September 2005, having raised £10.8m before expenses at an issue price of
190p. SQS is included in the Software and Computer Services sector (9530) within
the Computer Services subsector (9533) and has a RIC code of SQS.L. SQS
completed a secondary listing on the Deutsche Boerse in Frankfurt on 2nd
December 2005. For further information, please visit www.sqs-uk.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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