Share Repurchase Plan

12 Months Ended

Mar. 31, 2011

Share Repurchase Plan

Share Repurchase Plan

12.  SHARE REPURCHASE PLAN

On each of May 26, 2010, August 12, 2010 and March 23, 2011, the Company's Board of Directors authorized the repurchase of up to $200.0 million, for a combined total of $600.0 million, of the Company's outstanding ordinary shares.  Following shareholder approval at the Company's 2010 Extraordinary General Meeting on July 23, 2010, the number of shares authorized for repurchase under the Share Purchase Mandate was approximately 78.3 million shares (representing 10% of the outstanding shares on the date of the 2010 Extraordinary General Meeting).  The Company may not exceed in the aggregate the $600.0 million repurchase authorized by the Board in May 2010, August 2010 and March 2011 without further Board action.  Share repurchases are made in the open market at such times and in such amounts as management deems appropriate.  The timing and number of shares repurchased depends on a variety of factors including price, market conditions and applicable legal requirements.  The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time without prior notice.  During the fiscal year 2011, the Company repurchased approximately 65.4 million shares under these plans for an aggregate purchase price of $400.4 million, and retired approximately 21.4 million of these shares.