Ubisoft 2004 Annual Report Download - page 111

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109
UBISOFT > 2005 FINANCIAL REPORT
4
GENERAL INFORMATION
d) At its meeting of April 25, 2003, the Board of Directors used the authorization granted by the Combined General
Meeting of September 12, 2002 to issue and allocate, free of charge, warrants for the purchase of existing shares
and/or the subscription for new shares to all shareholders on May 14, 2003.
Chief characteristics of the stock warrants for the purchase of existing shares and/or the subscription for new shares
of May 14, 2003:
Initial number of warrants: 17,540,082 (15 SPWs entitle the holder to one share)
Strike price: €28
Term: May 14, 2002 to May 14, 2006, inclusive
The 1,169,733 stock warrants allocated to Ubisoft Entertainment SA were cancelled. 710,580 stock purchase warrants were
exercised during the fiscal year. 1,776 shares were delivered by Ubisoft Entertainment SA from its treasury shares and
45,596 shares were created.
As of March 31, 2005, 15,648,489 stock warrants remained to be converted.
e) At its meeting of November 3, 2003, the Board of Directors used the authorization granted by the Combined
General Meeting of September 12, 2002 to proceed with an OBSAR bond issue (bonds with redeemable share
warrants).
Characteristics of the bonds:
Number: 716,746 bonds
Nominal issue price: €76.70
Term of bond: Five years from the settlement date
Nominal rate, yield: The bonds will bear interest at a variable rate payable quarterly in arrears.
The annual nominal rate is based on the 3-month Euribor.
Normal redemption:
The bonds will be redeemedon one occasion on December 2, 2008 by redemption
at par, i.e. €76.70 per bond.
As of March 31, 2005, there were 716,746 bonds in circulation.
Characteristics of the BSAR (Redeemable share warrants):
Number of BSAR: 1,433,492 BSAR (two BSAR are attachedto each bond).
Parity: 1 BSAR entitles the holder to subscribe for one new share
Strike price: €38.35
Exerciseperiod: The BSAR may be exercised between December 3, 2003 and December 2,
2008, subject to the provisions governing the early redemption of BSAR at
the discretion of the issuer and the provisions concerning circumstances
under which the exercise of BSAR may be suspended.
As of March 31, 2005, there were 1,433,492 BSAR in circulation.