Ubisoft 2003 Annual Report Download - page 62

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FINANCIAL REPORT
2004
62
Stock purchase warrants
Stock purchase warrants as of March 12, 2001
Number and face value: 53,266, with one warrant entitling its holder to subscribe for 1.038 shares with a par value
of ¤0.31 (in accordance with the adjustment made in connection with the issue of warrants
for the purchase of existing shares and/or subscription for new shares in May 2003)
Issue price: ¤0.01
Strike period: December 28, 2001 to March 11, 2006
Strike price: ¤40.29
As of March 31, 2004, no warrants had been exercised.
Stock purchase warrants for existing shares and/or for the subscription for new shares of May 14, 2003:
Number and face value: 17,540,082, with 15 warrants needed to subscribe for one share with a face value of ¤0.31
Issue price: ¤0.01
Strike period: May 14, 2002, to May 14, 2006
Strike price: ¤28
The 1,169,733 warrants allocated to Ubisoft Entertainment SA were cancelled.
11,280 warrants were exercised during the fiscal year via delivery of own shares.
As of March 2004, 16,359,069 subscription warrants remained to be converted.
Stock options
The capital increases and issue premiums during the past fiscal year were partly driven by the exercise of stock options.
For the record, the exercise conditions of the stock option plans are as follows:
* The decision to extend the fiscal year was made at the Board meeting of October 1, 2003.
Note 13 Provisions for risk and charges
Provisions for risk and charges break down as follows:
As of 3/31/03 Appropriations Write-backs Write-backs As of 3/31/04
(provision used) (provision not used)
Provisions for litigation 35 - - 31 4
Provisions for subsidiary risk 84 - 84 - -
Provisions for retirement 300 258 - - 558
Provisions relating to foreign
exchange hedges - 76 - - 76
Provisions for destruction
of licensed products - 1,083 - - 1,083
Provisions for tax risk 244 174 244 - 174
Negative goodwill 39 - 2 - 37
TOTAL 702 1,591 330 31 1,932
IMPACT :
Earnings before interest and tax 1,341 2 31
Net financial income/expense 76 84 -
Extraordinary income (expense) 174 244 -
3rd plan 4th plan 5th plan 6th plan 7th plan 8th plan 9th plan 10th plan
Initial number of shares 250,000 40,471 318,426 44,605 389,065 353,181 9,220 71,796
Face value ¤0.31 ¤0.31 ¤0.31 ¤0.31 ¤0.31 ¤0.31 ¤0.31 ¤0.31
Subscription value ¤20.40 ¤38 ¤34.51 ¤34.51 ¤12.82 ¤9.20 ¤10.25 ¤9.20
Exercise period 10/23/98 12/8/00 4/9/01 4/25/02 8/16/02 10/16/02 1/29/03 4/28/03
through through through through through through through through
2/27/04* 12/8/05 4/9/06 4/24/06 8/15/08 10/15/07 1/28/08 10/27/07
Options not exercised
as of March 31, 2003 0 40,471 318,426 44,605 389,065 342,388 9,220 63,402