Corporate news

General shareholders' meeting decides to resume share buyback program

Corporate News

•    Authorization to buyback a total of 1,226,203 own shares
•    Redemption of nearly 9% of MAGIX shares planned

Berlin, March 12, 2008 – Today, the shareholders' meeting of MAGIX AG (ISIN DE0007220782) has authorized the Management Board to acquire a total of 1,266,203 own shares via stock market trading or a public buyback offer. This constitutes just under 10% of the total voting rights. The company can redeem or use the bought back shares to service the share option program and as a method of payment within the scope of acquisitions.
 
The Management Board now plans to redeem the 1,127,138 own shares already held by the MAGIX AG.

"From our perspective, a buyback of our own shares represents the best investment for the group at this time," said Jürgen Jaron, the CEO of the MAGIX AG.

In addition to authorizing a new share buyback program, the shareholders' meeting also approved all other proposals of resolution with a majority vote. The exoneration of the Management Board and the Supervisory Board as well as the proposal to carry forward the retained earnings according to commercial law to the amount of EUR 9,756,253.93 were each approved by more than 99 percent of the present votes.

A total of about 64% of the company's share capital was represented at the shareholders' meeting.

MAGIX AG will make public the preliminary figures for the 2nd quarter on 30 April, 2008. The six-month report will be presented on 30 May, 2008.