SAP Now European Company (SE)

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Jul 07, 2014, 09:01 ET

WALLDORF, Germany, July 7, 2014 /PRNewswire/ -- As of today, SAP (NYSE: SAP) has turned its legal form to a European Company (Societas Europaea, SE). After a 99 percent approval by the annual general meeting of shareholders in May, the company today has been registered as a European Company by the Commercial Register. The German subsidiary, as a consequence, has changed its name to SAP Deutschland SE & Co. KG.

With this step, SAP is underscoring the company's international nature. The SAP Supervisory Board now holds five of 18 members that are of non-German background: three on the shareholder representative side, Pekka Ala-Pietla (Finland), Bernard Liautaud (France) and Jim Snabe (Denmark), as well as Catherine Bordelon (France) and Steffen Leskovar (Slovenia) as representatives of the employees. In the composition of the Supervisory Board, SAP is one of the top three international companies of the German Blue Chips, DAX 30.

SAP's transformation into an SE has no consequences for its contract partners, customers or employees. Employee contracts will continue as before and shop agreements are being retained. Shareholders' rights have not been altered by the new legal form, and the conversion also has no impact on stock exchange trading of SAP shares. SAP shares are listed on the stock exchanges of New York, Frankfurt, Stuttgart and Berlin and can be traded there. The headquarters and registered company seat of SAP SE remain in Walldorf, Germany.

For more information, visit the SAP News Center. Follow SAP on Twitter at @sapnews.

About SAP
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 258,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)

For more information, financial community:
Stefan Gruber, +49 6227 7-44872, [email protected], CET

For more information, press:
Christoph Liedtke, +49 6227 7-50383, [email protected], CET
Daniel Reinhardt, +49 6227 7-40201, [email protected], CET
SAP News Center press room; [email protected]

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SOURCE SAP AG