68 [B] EMPLOYEE INCENTIVE SHARE OPTION PLAN [A] AUTHORIZED AND ISSUED December 31, 2012 and 2011 7. SHARE CAPITAL A summary of the changes to CI’s share capital is as follows: Notes to Consolidated Financial Statements [in thousands of Canadian dollars, except per share amounts] Number of shares  Stated value Common Shares  [in thousands]  $ Authorized An unlimited number of common shares of CI Issued Common shares, balance, December 31, 2010  287,434  1,984,488 Issuance of share capital on vesting of deferred equity units  and exercise of share options  863  12,575 Share repurchase  (4,730) (32,729) Common shares, balance, December 31, 2011  283,567  1,964,334 Issuance of share capital on exercise of share options  722  9,633 Share repurchase  (1,374) (9,534) Common shares, balance, December 31, 2012  282,915  1,964,433 During the year ended December 31, 2012, 1,374,300 shares [2011 - 4,729,800 shares] were repurchased under a normal  course issuer bid at an average cost of $22.22 per share [2011 - $20.13 per share] for total consideration of $30,534  [2011 - $95,194]. Deficit was increased by $21,000 [2011 - $62,465] for the cost of the shares repurchased in excess of their  stated value. CI has an employee incentive share option plan [the “Share Option Plan”], as amended and restated, for the executives  and key employees of CI.