14th May 2008 15:05
SQS Software Quality Systems AG
14 May 2008
SQS Software Quality Systems AG ('SQS' or the 'Company')
Exercise of options
Software Quality Systems AG, the global leader in independent software testing and quality management services, announces the exercise of 69,064 options from the employee private stock option programme.
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 from them SQS ordinary shares ("Ordinary Shares"). An employee has now exercised his right to acquire 69,064 Ordinary Shares at a price of 0.67 EUR. Mr van Megen and Mr Bons have agreed to transfer 69,064 Ordinary Shares to the employee, comprising 34,532 Ordinary Shares from Mr van Megen and 34,532 Ordinary Shares from Mr Bons.
The Company also announces that on 13 May 2008 Rudolf van Megen, the Chief Executive Officer and Heinz Bons, an ex-Director and co-founder, have transferred 15,804 and 4,026 Ordinary Shares respectively to employees for nil consideration. This transfer was executed in accordance with a contract agreed at the time of the Company's flotation on AIM. Mr van Megen and Mr Bons held these Ordinary Shares on behalf of these employees in accordance with their contractual obligations and had no beneficial interest in the shares.
Following the option exercise, Mr van Megen and his family are interested in 4,202,953 Ordinary Shares representing 19.5 per cent. of the current total issued share capital and Mr Bons and his family are interested in 3,787,991 SQS Ordinary Shares representing 17.5% of the current total issued share capital.
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 Tulloch
College Hill 020 7457 2020Sara Musgrave/Ben Way
Related Shares:
SQS Software Quality Systems AG