Capital Structure

9 Months Ended

Mar. 31, 2018

11. Capital structure

The following table presents a reconciliation between the number of shares, net of treasury, presented in the unaudited condensed consolidated statement of changes in equity during the nine months ended March 31, 2018 and 2017, respectively, and the number of shares, net of treasury, excluding non-vested equity shares that have not vested during the nine months ended March 31, 2018 and 2017, respectively:

	March 31,		March 31,
	2018		2017

Number of shares, net of treasury:
Statement of changes in equity	56,855,187		57,590,085
Less: Non-vested equity shares that have not vested (Note 13)	(934,673	)	(904,356	)
Number of shares, net of treasury excluding non-vested
equity shares that have not vested	55,920,514		56,685,729

Common stock repurchases

Executed under share repurchase authorizations

The Company did not repurchase any of its shares during the three and nine months ended March 31, 2018, or during the three months ended March 31, 2017.

In February 2016, the Company's board of directors approved the replenishment of its share repurchase authorization to repurchase up to an aggregate of $100 million of common stock. The authorization has no expiration date. On June 29, 2016, the Company adopted a Rule 10b5-1 trading plan for the purpose of repurchasing approximately $50 million of its common stock, which was included within the original share repurchase authorization. During the nine months ended March 31, 2017, the Company repurchased 3,137,609 shares for approximately $31.6 million under its share repurchase authorizations.