Ubisoft 2001 Annual Report Download - page 104

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104
c) At its meeting on November 13, 2001, with the authorization granted by the Extraordinary General Meeting of
October 19, 2001 the Board of Directors agreed to issue bonds with the option of conversion into and/or exchange for
new or existing shares in the company to a total maximum value of about 172.5 million Euros.
■Chief characteristics of the 1999 equity warrants:
Number and face value : 3,150,000 bonds with a face value of 47.50
Issue price: 47.50
Due date and settlement day : November 30, 2001
Term of bond : 5 years
Annual yield: 2.50% per year, payable on November 30 of each year.
Gross redemption yield: 4.50% on November 30, 2001 (if there is no conversion and/or exchange of shares,
and if there is no accelerated amortization).
Normal redemption: redeemed in full by November 30, 2006 by redemption at a price
of 52.70 (FF 1,080) per bond, or 110.94% of the issue price.
As of March 31, 2002, no bond had been exercised.
d) During its meeting on October 19, 1999, the Board of Directors used the authorization granted by the combined
Ordinary and Extraordinary General Meeting held on 30 June 1998 to issue 372,058 shares with equity warrants to a value
of M50.61 (FF 332 million).
■Chief characteristics of the 1999 equity warrants:
Initial number of warrants: 372,058
Issue price: 136 (FF 892.10)
Strike price: 170 (FF 1115.13)
Strike period: November 3, 1999 to November 2, 2002
Warrants not exercised by the end of this period will lose all value and be cancelled.
As of 03/31/02, 340,516 warrants remained to be exercised.
e) During its meeting on March 12, 2001, the Board of Directors used the authorization granted by the Extraordinary
General Meeting held on March 9, 2001 to issue 53,266 equity warrants with a face value of 16,240.70 (FF 106,532).
■Chief characteristics of the March 12, 2001 equity warrants:
Initial number of warrants: 53,266
Issue price: 0.01
Strike price: 40.29
Strike period: from December 28, 2001 to March 11, 2006
Warrants not exercised by the end of this period will lose all value and be cancelled.
As of March 31, 2002, no equity warrant had been exercised.