XML 104 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
SHARE REPURCHASE PLAN
12 Months Ended
Mar. 31, 2014
SHARE REPURCHASE PLAN  
SHARE REPURCHASE PLAN

18. SHARE REPURCHASE PLAN

        During fiscal year 2014, the Company repurchased approximately 59.5 million shares for an aggregate purchase value of approximately $468.8 million under two separate repurchase plans as further discussed below.

        During the second quarter of fiscal 2014, the Company repurchased the entire remaining amount under a prior share repurchase plan that was approved by the Company's Board of Directors on September 13, 2012 and the Company's shareholders at the 2012 Extraordinary General Meeting held on August 30, 2012, or approximately 35.3 million shares for an aggregate purchase value of approximately $259.3 million, and retired all of these shares.

        The Company's Board of Directors, on July 24, 2013, authorized the repurchase of up to 10% of the Company's outstanding ordinary shares which was approved by the Company's shareholders at the 2013 Extraordinary General Meeting held on July 29, 2013. Share repurchases by the Company under the share repurchase plans are subject to an aggregate limit of 10% of the Company's ordinary shares outstanding as of the date of the 2013 Extraordinary General Meeting. During fiscal year 2014, the Company repurchased approximately 24.2 million shares for an aggregate purchase value of approximately $209.5 million under this plan, including accrued expenses, and retired all of these shares. As of March 31, 2014, approximately 37.0 million shares were available to be repurchased under this plan.

        On September 30, 2013, the Singapore Companies Act was amended to increase the share repurchase limit for companies incorporated in Singapore, from 10% to 20% of their shares outstanding as of the most recent shareholder approval date, subject to the requirements under the Singapore Companies Act.