The required majority of the shareholders present or represented at update software AG's 18th Ordinary Shareholders' Meeting on June 10, 2015, resolved to approve the change of update software AG's legal form to a limited liability company (GmbH) as per Section 239 of the Austrian Stock Corporation Act. Upon effectiveness of this change, the stock exchange listing of the Company's shares will also expire. In addition, the Company's name will be changed to Aurea Software GmbH. At the Ordinary Shareholders' Meeting, several shareholders stated their objection to the agenda item on the Company’s change of legal form and their objection was recorded in the Minutes. As a result, these shareholders will have the opportunity, once update software AG's change to a limited liability company has been registered, to accept the cash settlement offered by Aurea Software FZ-LLC.