Logitech 2013 Annual Report Download - page 145

During fiscal years 2013, 2012 and 2011, 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 — 657 $4,435
September 2008 ..................... 250,000 August 2013 — — —
(1) Represents an estimate of the shares remaining to be repurchased calculated based on the amount remaining
to repurchase as of March 31, 2013, $4.4 million, divided by the adjusted closing price of the Company’s
shares traded on the SIX Swiss Exchange as of the same date, $6.75 per share.
In November 2011, the Company received approval from the Swiss regulatory authorities for an amendment
to the September 2008 share buyback program to enable future repurchases of shares for cancellation, up to a total
of 28.5 million shares. The Company repurchased shares under these buyback programs as follows (in thousands):
Date of
Announcement
Amounts Repurchased During Year ended March 31,(1)
Program to date 2013 2012 2011
Shares Amount Shares Amount Shares Amount Shares Amount
September 2008 - amended ...... 18,500 $172,857 8,600 $89,955 9,900 $ 82,902 — $ —
September 2008 ............... 7,609 73,134 — — 7,609 73,134 — —
26,109 $245,991 8,600 $89,955 17,509 $ 156,036 — $ —
(1) Represents the amount in U.S. dollars, including transaction costs, calculated based on exchange rates on the
repurchase dates.
For further information on Logitech’s share repurchases please refer to “Additional Financial Disclosures –
Market for Logitech’s Shares, Related Shareholder Matters, and Share Repurchases” in our Annual Report.
2.4 Share Categories
Registered Shares. Logitech International S.A. has only one category of shares – registered shares with a par
value of CHF 0.25 per share. Each of the 173,106,620 issued shares carries the same rights. There are no preferential
rights. However, a shareholder must be entered in the share register of the Company to exercise voting rights and the
rights deriving therefrom (such as the right to convene a general meeting of shareholders or the right to put an item
on the meeting’s agenda). Refer to section 6 for an outline of participation rights of the Company’s shareholders.
Each share entitles its owner to dividends declared, even if the owner is not registered in the share register
of the Company. Under Swiss law, a company pays dividends upon approval by its shareholders. This request for
shareholder approval typically follows the recommendation of the Board. Other than a one-time distribution to
shareholders of additional paid-in capital out of its capital contribution reserves last year, Logitech has not paid
dividends since 1996, using retained earnings to invest in the growth of the Company and, in more recent years,
to repurchase the Company’s shares. The Board is proposing that, beginning with fiscal year 2013 and subject to
approval by the Company’s shareholders and statutory auditors each year, Logitech distribute a recurring annual
gross dividend of CHF 0.21 per share.
Unless this right is restricted in compliance with Swiss law and the Company’s Articles of Incorporation,
shareholders have the pre-emptive right to subscribe for newly issued shares. Refer to section 2.2 for a description of
the provisions of the Company’s Articles of Incorporation relating to the restriction of the shareholders’ pre-emptive
subscription rights.
ANNUAL REPORT
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