Ascom Completes Share Buyback Program

India, Oct. 23 -- Friday, Ascom Holding AG (ASCN.SW) announced the completion of share capital reduction following the share buyback.

Under the program, Ascom Holding AG repurchased 3 million registered shares, representing 8.3% of its outstanding shares, through a second trading line on the SIX Swiss Exchange for a total of 13.4 million francs.

The repurchased shares will be cancelled to reduce the company's share capital.

Ascom Holding AG's Board of Directors plans to carry out the capital reduction under the capital band provisions in Article 3b of the company's Articles of Association.

On the Swiss Stock Exchange, the shares were trading 2.05 percent down at $5.72.

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