Ubisoft 2004 Annual Report Download - page 110

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108
UBISOFT > 2005 FINANCIAL REPORT
a) The meeting of the Board of Directors of June 30, 1998 made use of the authorization from the Extraordinary General
Meeting of the same date to issue convertible bonds without pre-emptive rights up to a total of €51.83 million.
Chief characteristics of this bond issue:
Number: 314,815 bonds
Following the 5-for-1 stock split and the adjustment made in connection with
the issue of warrants for the purchase of existing shares and/or the subscription
of new shares in May 2003, one bond entitles its holder to subscribe for
5.191 shares, each with a par value of €0.31.
Nominal issue price: €164.64 per bond
Dated date and settlement date: July 16, 1998
Term of bond: 7 years
Annual yield: 3.80% per year, or €6.26 per bond, payable after July 16 of each year.
Gross yield to maturity: 3.80% on July 16, 1998
Normal redemption: Redemption in full by July 16, 2005 by redemption at a price of €164.64, or
100% of the issue price.
As of March 31, 2005, 151,083 bonds remain to be converted; 4 bonds were converted during the fiscal year.
b) At its meeting of November 13, 2001, the Board of Directors used the authorization granted by the Extraordinary
General Meeting of October 19, 2001 to issue bonds with an option to convert into and/or exchange for new or
existing shares of the company (OCEANE) for a total maximum amount of €172.5 million.
Chief characteristics of this bond issue:
Number: 3,150,000 bonds
As a result of the adjustment made in connection with the issue of warrants
for the purchase of existing shares and/or the subscription for new shares in
May 2003, one bond entitles its holder to subscribe for 1.037 shares, each
with a par value of €0.31.
Nominal issue price: €47.50
Dateddate and settlement date: November 30, 2001
Term of bond: Five years from the settlement date
Annual yield: 2.5% per year, payable in arrears on November 30 of each year
Gross yield to maturity: 4.5% on the settlement date (if no conversion into and/or exchange for shares
and no early redemption)
Normal redemption: Redemption in full on November 30, 2006 at a price of €52.70, or 110.94%
of face value.
No bonds were exercisedduring the fiscal year.
As of March 31, 2005, 1,749,301 bonds remain to be converted.
c) At its meeting of March 12, 2001, the Board of Directors used the authorization granted by the Extraordinary
General Meeting of March 9, 2001 to issue 53,266 stock purchase warrants up to € 16,240.70 in par value.
Chief characteristics of the stock purchase warrants of March 12, 2001:
Initial number of warrants: 53,266, with one warrant entitling its holder to subscribe for 1.0381 shares
with a par value of €0.31 (following the adjustment madein 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 price: €40.29
Exercise period: 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, 2005, no warrants had been exercised.