The Extraordinary General Meeting of Ascom Holding Ltd shareholders which was held today has approved the Board of Directors' proposal for an ordinary capital increase of CHF 74,250,000. A rights offering commencing 8 December 2003 will entitle existing shareholders to subscribe to the 13,500,000 new registered shares.
At the Extraordinary General Meeting held in Berne on 4 December 2003, shareholders of Ascom Holding Ltd voted by overwhelming majority in favour of all the proposals submitted by the Board of Directors. A declaratory capital write-down, coupled with a reduction in the par value of registered shares in circulation to CHF 5.50 per share, will reduce the ordinary share capital of Ascom Holding Ltd to CHF 123,750,000. At the same time the ordinary share capital will be increased again by CHF 74,250,000 to CHF 198,000,000 by issuing 13,500,000 new registered shares at a par value of CHF 5.50 each. Once the transaction is completed, the share capital of Ascom Holding Ltd will comprise 36,000,000 registered shares at a par value of CHF 5.50 each.
The new registered shares will be offered to existing shareholders between 8 and 17 December 2003 at a subscription price of CHF 5.50 each.
The Extraordinary General Meeting of Ascom Holding Ltd was attended by 203 shareholders representing approx. 10.1 million votes or approx. 45 percent of the share capital.
About Ascom
Ascom is an international solution supplier with a comprehensive technology know-how. In the areas Transport Revenue (revenue collection and parking systems), Security Solutions (applications for security, communications, automation andcontrol systems for infrastructure operators, public security institutions and the army), Network Integration (network solutions in the data/voice convergence market) and Wireless Solutions (high quality on-site communications solutions) with many years of experience in the execution of complex projects for demanding customers the company has established itself in important key markets. Ascom's offering covers analysis and consulting, system design and system integration, project management, engineering and implementation, and goes right through to maintenance and support. The company has subsidiaries in 23 countries and has a staff of more than 5,000 employees worldwide. The Ascom registered shares (ASCN) are quoted on the SWX Swiss Exchange in Zurich.
