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  • kriderc kriderc Feb 1, 2010 10:55 AM Flag

    buyback of 120m shares...

    SAP AG: SAP Expects Stock Options to be Exercised on February 1
    SAP AG / Miscellaneous/Share Buyback

    01.02.2010

    Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
    DGAP - a company of EquityStory AG.
    The issuer is solely responsible for the content of this announcement.

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    SAP Expects Stock Options to be Exercised on February 1
    And Plans to Buy-Back Shares

    WALLDORF, Germany - February 1, 2010 - SAP AG (NYSE: SAP) today announced
    that it expects stock options to be exercised on February 1, 2010, which is
    the last day that stock options granted in 2005 from the Company's 2002
    Stock Option Plan (SOP) can be exercised. As a result, up to a total of
    approximately 6.6 million SAP shares will be received and sold into the
    market by the participants of the plan immediately on the same day, only if
    the SAP share price is equal to or higher than the stock options' exercise
    price of EUR33.66. SAP will primarily use treasury shares to service the
    SOP subscription rights.

    Today, the SAP Executive Board has decided to buy back up to 6.6 million
    shares from the open market today in order to replenish the treasury stock
    that was used to service the exercised options.

    The Company was granted approval to buy back shares at the Annual General
    Meeting (AGM) on May 19, 2009, which authorized the Board to buy back up to
    120 million SAP shares on or before October 31, 2010. The precise number
    and timing of any purchases of treasury shares is subject to change,
    depending on market conditions.

 
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