SQS Software Quality Systems AG Regulatory News (SQS)

30 Mar 2007 07:02

SQS Software Quality Systems AG30 March 2007 Immediate Release 30 March 2007 SQS Software Quality Systems AG Update on the dividend payment In the announcement of its preliminary results for the year ended 31 December2006, SQS stated that it was exploring suitable means of returning capital toshareholders. The Company explained that, under German law, it would benecessary to undertake some limited reorganisation of its net asset base inorder to pay a dividend to shareholders. It now seems likely that this reorganisation will not be complete in order toenable the Company to pay a dividend in respect of its 2006 financial year.However, as stated at the time of its announcement of its preliminary results,the Company intends to return an equivalent amount of capital to itsshareholders through alternative means. Given the recent issue of new SQS sharesto satisfy demand in the market, SQS no longer considers that a share buy backis an appropriate mechanism. Therefore, the Company now proposes to pay an enhanced dividend for its 2007financial year which will incorporate both the return of capital for its 2006financial year and the dividend which the directors currently expect to be ableto pay for the Company's 2007 financial year. This enhanced dividend will bepaid following the announcement of its preliminary results for the year ended 31December 2007 and the AGM planned for May 2008. Further details will be given atthat time. The Directors are confident that there will be no structural issue that willprevent the payment of a dividend to shareholders in respect of the 2007 andfuture financial years and, in respect of these years, SQS proposes to operate adividend policy in line with earnings. For further information please contact: SQS Software Quality Systems AG www.sqs.de or www.sqs-uk.comRudolf van Megen (CEO) / Rene Gawron (CFO) +49 (2203) 91 54 50 Altium 020 7484 4040Nick Tulloch Smithfield 020 7360 4900Reg Hoare / Tania Wild Print resolution images are available for the media to view and download from www.vismedia.co.uk Notes to Editors: SQS is the largest independent European provider of software testing and qualitymanagement services. SQS consultants design and oversee quality managementprocesses during software and IT systems development, and test the resultingproducts for errors and omissions. Headquartered in Cologne, Germany, SQS now has operations across Europe and inSouth Africa with over 750 employees. SQS has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London, Woking, Birmingham, Manchester), Ireland, Netherlands, Switzerland, Austria and SouthAfrica. SQS also has a minor stake in an operation in Portugal and a partnershipoperation in Spain. With over 4,000 completed projects under its belt, SQS has a strong customerbase including half of the DAX 30 companies and 30% of the STOXX-50. Theyinclude names like Lloyds TSB, Deutsche Telekom, Barclays, BP, Credit Suisse,Daimler Chrysler, and Airbus spread across the full range of industries. SQS is the first German company with a primary listing on AIM and completed itsIPO in September 2005, having raised £10.8m before expenses at an issue price of190p. SQS is included in the Software and Computer Services sector (9530) withinthe Computer Services subsector (9533) and has a RIC code of SQS.L. SQScompleted a secondary listing on the Deutsche Boerse in Frankfurt on 2ndDecember 2005. For further information, please visit www.sqs-uk.com. . This information is provided by RNS The company news service from the London Stock Exchange