Logitech 2012 Annual Report Download - page 212

The Board of Directors may limit or withdraw the shareholders’ right to subscribe for the bonds by preference
for valid reasons, in particular (a) if the bonds are issued in connection with the financing or refinancing of the
acquisition of one or more companies, businesses or parts of businesses, or (b) to facilitate the placement of the
bonds on the international markets or to increase the security holder base of the Company. If the shareholders’ right
to subscribe for the bonds by preference is limited or withdrawn, the bonds must be issued at market conditions,
the exercise period of the conversion rights must not exceed 7 years from the date of issuance of the bonds, and
the conversion price must be set at a level that is not lower than the market price of the shares preceding the
determination of the final conditions for the bonds.
2.3 Changes in Shareholders’ Equity
As of March 31, 2012, 2011 and 2010, balances in shareholders’ equity of Logitech International S.A., based
on the parent company’s Swiss Statutory Financial Statements, were as follows (in thousands):
As of March 31,
2012 2011 2010
Share capital......................................... CHF 47,902 CHF 47,902 CHF 47,902
Legal reserves:
General reserve
- Reserve for capital contributions..................... 9,580 9,580 9,580
Reserve for treasury shares
- Reserve for treasury shares from capital contributions ... 116,070 116,070 116,070
- Other general reserves for treasury shares ............. 217,375 165,495 303,700
Total legal reserves ................................... 343,025 291,145 429,350
Unappropriated retained earnings........................ 460,919 507,730 349,312
Total shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 851,846 CHF 846,777 CHF 826,564
The following table shows authorized and conditional share capital as of the last three fiscal year ends
(in thousands):
As of March 31,
2012 2011 2010
Authorized share capital .................................... CHF —CHF —CHF —
First conditional share capital ................................ CHF 6,250 CHF 6,250 CHF 6,250
Second conditional share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 6,250 CHF 6,250 CHF 6,250
For information on Logitech’s shareholders’ equity as of March 31, 2012 and 2011, refer to the Swiss Statutory
Balance Sheets on page 269 of our Annual Report, Invitation and Proxy Statement.
During fiscal years 2012, 2011 and 2010, the Company had the following approved share buyback programs
in place (in thousands):
Date of
Announcement
Approved
Buyback
Amount
Expiration
Date
Completion
Date
Number of
Shares
Remaining(1)
Amount
Remaining
September 2008 - amended . . . . . . . . . . . $ 177,030 August 2013 — 12,075 $94,255
September 2008 . . . . . . . . . . . . . . . . . . . . 250,000 August 2013 — — —
June 2007 . . . . . . . . . . . . . . . . . . . . . . . . . 250,000 September 2010 March 2010 — —
(1) Represents an estimate of the shares remaining to be repurchased calculated based on the amount remaining
to repurchase as of March 31, 2012, $94.3 million, divided by the adjusted closing price of the Company’s
shares traded on the SIX Swiss Exchange as of the same date, $7.81 per share.
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