SHARE CAPITAL

Movements in the number of common shares issued are represented in the table below:



In millions	June 30, 2012		June 30, 2011
Common shares issued	490.4		490.4
Less: Treasury shares for which dividend and voting rights do not apply	(45.2	)	(39.5	)
Common shares outstanding	445.2		450.9

During the three and six months ended June 30, 2012, the company repurchased 3.2 million and 6.3 million shares, respectively, in the market at a cost of $75.0 million and $150.0 million, respectively (three and six months ended June 30, 2011: 11.3 million and 13.4 million shares were repurchased at a cost of $279.9 million and $333.0 million, respectively). Separately, an aggregate of 1.7 million shares were withheld on vesting events during the six months ended June 30, 2012 to meet employees’ withholding tax (six months ended June 30, 2011: 2.7 million). The fair value of these shares withheld at the respective withholding dates was $42.6 million during the six months ended June 30, 2012 (six months ended June 30, 2011: $70.8 million). Approximately $582.0 million remained authorized under the company’s share repurchase plan at June 30, 2012 (six months ended June 30, 2011: $835.4 million).

Total treasury shares at June 30, 2012 were 55.8 million (June 30, 2011: 49.5 million), including 10.6 million unvested restricted stock awards (June 30, 2011: 10.0 million) for which dividend and voting rights apply. The closing market price of common shares at June 30, 2012 was $22.60. The total market value of the company’s 55.8 million treasury shares was $1.3 billion on June 30, 2012.