Employee share sales

13th Sep 2007 17:16

SQS Software Quality Systems AG13 September 2007 SQS Software Quality Systems AG 13 September 2007 SQS Software Quality Systems AG ("SQS" or the "Company") Employee share sales Software Quality Systems AG, the global leader in independent software testing and quality management services, announces that Altium Capital Limited, the Company's nominated adviser and broker, has today placed 651,262 ordinary shares in SQS with institutional investors on behalf of certain SQS employees (the "Placing"). The Placing was carried out at a price of 284.5 pence per SQS share. At the time of the Company's IPO in September 2005, Rudolf van Megen and Heinz Bons granted options to certain key employees to purchase SQS ordinary shares from them at a price of 0.42 EUR. The employees have now exercised their right to acquire these shares. In total, Mr van Megen and Mr Bons have agreed to transfer 811,932 shares to employees, comprising 405,966 shares from Mr van Megen and 405,966 shares from Mr Bons. Of these shares, the employees have elected to sell 651,262 through the Placing and have elected to retain 160,670 shares. Included within the 811,932 shares transferred by Mr van Megen and Mr Bons are 127,840 shares which Rene Gawron, the Chief Financial Officer of the Company, is entitled to. Of these shares, Mr Gawron has elected to sell 86,000 through the Placing and has elected to retain 41,840 shares. Following the Placing, the interests in SQS ordinary shares of the members of the Executive Board are as follows: Number of shares Percentage of current total issued share capitalRudolf van Megen 4,184,225 22.4Heinz Bons 3,822,323 20.5Rene Gawron 44,129 0.2 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 4040Nick TullochCollege Hill 020 7457 2020Sara Musgrave/Ben Way This information is provided by RNS The company news service from the London Stock Exchange

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