NEW YORK, May 26, 2011 — BNY Mellon, the global leader in investment management and investment services, has been appointed as successor depositary bank by Software AG for the company's American depositary receipt (ADR) program. Each Software AG ADR represents one fourth of an ordinary share and trades on the U.S. over-the-counter (OTC) market under the symbol "STWRY." Software AG's ordinary shares trade in the Prime Standard of the Frankfurt Stock Exchange under the symbol "SOW." Software AG will use the OTCQX platform, a premier marketplace for over-the-counter trading in the U.S.
Founded in 1969, Software AG is an independent software vendor that offers end-to-end business process management solutions delivering low total-cost-of-ownership and high ease-of-use. The company offers a high performance transactional database, Adabas, and a consulting business, IDS Scheer Consulting. Software AG had revenues of euro 1.1 billion in 2010 and has more than 5,600 employees serving 10,000 enterprise and public institution customers across 70 countries. The company is headquartered in Darmstadt, Germany and listed on the TecDAX® segment of Deutsche Borse.
"With a strong business presence in the U.S., we see increasing interest in our company from American investors, and a considerable percentage of our shares is already held in the United States," said Otmar F. Winzig, Software AG senior vice president of investor relations and compliance. "The renewed ADR program will support our efforts to widen our shareholder base, enabling a broader range of U.S.-based investors to take part in our future development."
"As successor depositary bank, we'll work closely with Software AG to broaden its outreach to global investor audiences, with the ultimate objective being diversification of their shareholder base by attracting more U.S. investors," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "BNY Mellon maintains relationships with many well-known German companies and acts as depositary for nearly half of the German firms with a sponsored DR program."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.