Mülheim an der Ruhr, August 3, 2019: EASY SOFTWARE AG (ISIN: DE0005634000, WKN 563400) sells its entire share in otris software AG, Dortmund, to the remaining shareholders of otris software AG and otris software AG itself. With the approval of this sale given today by the Supervisory Board of EASY SOFTWARE AG, the purchase agreements became effective.
EASY SOFTWARE AG holds approximately 183,920 shares corresponding to 45.98% of the share capital of otris software AG. The agreed purchase price totals just under EUR 9.2 million and is due in September 2019. Should the buyers (with the exception of otris software AG) resell the shares they have acquired within two years of the transaction, EASY SOFTWARE AG will additionally receive a compensation payment in the amount of the difference between the purchase price and the net resale proceeds (compensation agreement). The compensation agreement relates to a total of approximately 163,920 shares.
As a prerequisite for the sale of shares, EASY SOFTWARE AG has also signed a new, five-year framework agreement with otris software AG, which puts the sale of otris software by EASY SOFTWARE AG on a new basis. According to the Management Board’s estimate, this will lead to cost reductions of EUR 0.6 million to EUR 1.0 million per year during the contract period.