January 3, 2017 / 6:37 AM / 7 months ago

SGS says completes 458.3 million Sfr share buyback programme

ZURICH (Reuters) - SGS said it has completed its share buyback programme launched in January 2015, saying it has bought 3.1 percent of its share capital for a total of 458.3 million Swiss francs ($448.74 million).

The company said it would ask its shareholders for approval to cancel 188,704 of the 240,797 repurchased shares. The remaining 52,093 shares bought back would be used for employee incentive plans and to secure conversion rights of convertible bonds, SGS said on Tuesday.

($1 = 1.0213 Swiss francs)

Reporting by John Revill, editing by Silke Koltrowitz

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