S&T to list on Vienna Stock Exchange
Company to start trading on prime market on April 11
Vienna (pts009/09.04.2003/09:44) S&T System Integration & Technology Distribution AG (XETRA: SNT, OTC: STSQY), a leading IT services company in Central and Eastern Europe, announced today that its shares will be listed on the prime market segment of the Wiener Börse (Vienna Stock Exchange) starting 11 April, 2003. The company expects the listing to increase liquidity and attract more investors. S&T will continue to be traded on the NASDAQ Europe market.
Karl Tantscher, CEO of S&T, said of the Vienna listing: "The decision to go to the Vienna Stock Exchange was made last November. The Vienna exchange is essentially a home market for us, as many of the Austrian companies listed here, such as OMV, BBAG or Erste Bank, are among our clients in Central and Eastern Europe."
Mr. Tantscher expects the move to increase the liquidity of S&T shares. He added, "The additional quotation was necessary because the trade volume of NASDAQ Europe was adversely affected due to the market conditions during the previous year. Our listing in Vienna will create an additional incentive for Austrian investors and enhance S&T's overall visibility."
Mr. Tantscher also indicated that he was impressed by the Austrian government's initiatives to strengthen the domestic capital markets, such as the introduction of the Austrian Code of Corporate Governance and the state-supported pension scheme. S&T also expects the listing in Vienna to attract more private investors, as lower trade fees will make S&T stock more attractive to the retail community.
S&T assumes transfer costs for "move to Vienna"
As an additional trading incentive, S&T will compensate its investors for the costs incurred as a result of the relocation of their shares from Brussels to Vienna. These costs can exceed EUR 50 depending on the depository bank.
Stefan Zapotocky, chairman of the Vienna Börse AG, expressed his excitement about S&T's homecoming: "I am very happy to welcome S&T to the Vienna Stock Exchange. S&T is the third Austrian company to choose our platform within the past six months. The company made the leap to Central and Eastern Europe at an early stage, revealing the opportunities for Austrian companies in this region. This is why S&T is a leader that greatly enhances our list of companies on the Vienna Stock Exchange and shows the importance of the Vienna financial centre as a bridge to the CEE states."
Positive outlook for 2003
S&T expects to see significant growth and to improve its position regarding the larger EU candidate markets also as a result of its recently completed acquisition of Fujitsu Services Ltd (UK) subsidiaries in seven countries (Poland, Czech Republic, Slovakia, Hungary, Romania, Greece and Malta). The management estimates that integration with existing companies and the resulting synergies will create improvements in S&T's margins.
About S&T
S&T is a leading provider of IT solutions for clients in 18 countries in Central, Eastern and Southern Europe. The company consults, develops and implements tailored IT solutions and offers services around the clock. S&T has special problem-solving and service know-how for critical business applications. S&T focuses on the needs of large and middle-sized companies, especially telecommunications companies, banks, energy suppliers, public institutions and health services providers.
For more information, please contact:
Karl Tantscher
Chief Executive Officer
karl.tantscher@snt.at
Markus Klampfer
Corporate Communications
markus.klampfer@snt.at
S&T SYSTEM INTEGRATION & TECHNOLOGY DISTRIBUTION AG
Gunoldstrasse 16
1190 Vienna, Austria
Phone: +43 1 367 80 88 0
Fax: +43 1 367 80 88 99
E-Mail: snt@snt.at
http://www.snt.at
| Aussender: | pts - single press release |
| Ansprechpartner: | Markus Klampfer |
| Tel.: | +43 1 367 80 88 0 |
| E-Mail: | markus.klampfer@snt.at |
