Regulatory Announcement
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RNS Number:4364O
SQS Software Quality Systems AG
20 February 2008
SQS Software Quality Systems AG
20 February 2008
SQS Software Quality Systems AG ("SQS" or the 'Company')
Conversion of Securities
Software Quality Systems AG, the global leader in independent software testing
and quality management services, today announces that Gresham Computing plc
("Gresham") is exercising its conversion rights over its convertible bonds into
SQS Ordinary Shares.
The Company's admission document and the annual report for the year ended 31
December 2006 detail Gresham's holding of 52,800 convertible bonds with a
nominal value of €1 each. These convertible bonds date back to the first UK
acquisition SQS made in 2001.
Gresham informed the Company on the 21 December 2007 of its intention to
exercise its conversion rights at the issue price of £1.90 per share (the issue
price at the IPO in 2005 agreed with Gresham before the IPO). Consideration of
€140,047 has been paid to the Company for the conversion of the bonds into
52,800 Ordinary Shares. These shares will be eligible for dividends with effect
from 1 January 2008.
Application will be made for the new Ordinary Shares to be admitted to trading
on AIM.
Following admission of the issue, SQS will have 21,599,109 Ordinary Shares in
issue.
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 (22 03) 91 54 0 | |
| Altium | ||
| Nick Tulloch Penny Ladkin |
+44 (0) 20 7484 4040 | |
| College Hill Associates Ltd | ||
| Sara Musgrave Ben Way |
+44 (0) 20 7457 2020 | |
20 February 2008
This information is provided by RNS
The company news service from the London Stock Exchange
END