SWITZERLAND. Avolta today announced it has completed the cancellation of 6,104,570 treasury shares, effective 17 December.
The planned cancellation of the shares was announced with the third-quarter earnings on 31 October .
Treasury shares are the company’s own stock bought back from an existing shareholder where those shares have not been immediately cancelled.
When treasury stocks are cancelled, they can no longer be sold and are taken out of the market circulation. In turn, the share count is permanently reduced. This causes the remaining shares in circulation to represent a larger percentage of shareholder ownership, including dividends and profits.
Avolta’s registered share capital now amounts to CHF732,548,405 (US$815.2 millioin) representing 146,509,681 registered shares with a par value of CHF5.00 (US$5.56)each. ✈
