Ubisoft 2004 Annual Report Download - page 70

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68
UBISOFT > 2005 FINANCIAL REPORT
Stock purchase warrants
Stock purchase warrants as of March 12, 2001
lNumber: 53,266, with one warrant entitling its holder to subscribe 1.038 shares with a face
value of €0.31 each (in accordance with the adjustment made in connection with
the issue of warrants for the purchase of existing shares and/or subscription of
new shares in May 2003)
lIssue price: €0.01
lExercise period: December 28, 2001, to March 11, 2006
lExercise price: €40.29
As of March 31, 2005, no warrants had been exercised.
Stock purchase warrants for existing shares and/or for the subscription of new shares of May 14, 2003
lNumber: 17,540,082, with 15 warrants needed to subscribe for one share with a face value
of €0.31.
lExercise period: May 14, 2002, to May 14, 2006
lExercise price: €28
The 1,169,733 warrants allocated to Ubisoft Entertainment SA were cancelled.
710,580 stock purchase warrants were exercised during the fiscal year. 1,776 shares were delivered from directly held
shares and 45,596 shares were created.
As of March 31, 2005, 15,648,489 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:
4th Plan 5th Plan 6th Plan 7th Plan 8th Plan 9th Plan 10th Plan 11th Plan 12th Plan
Initial number 40,471 320,926 44,605 389,065 353,181 9,220 71,796 388,150 496,050
of shares
Face value €0.31 €0.31 €0.31 €0.31 €0.31 €0.31 €0.31 €0.31 €0.31
France Italy USA
Subscription value €38 €34.51 €34.51 €12.82 €9.20 €10.25 €9.20 €15.50 €14.72 €15.47 €13.55
Exercise period 12.8.00 4.9.01 10.25.01 8.16.02 10.16.02 1.29.03 4.28.03 10.14.04 11.17.04 through 11.16.14
through through through through through through through through
12.8.05 4.9.06 4.24.06 8.15.12 10.15.07 1.28.08 10.27.07 10.13.14
Options not 39,186 320,590 44,605 389,065 309,129 8,655 46,284 388,150 496,050
exercised as of
March 31, 2005
Equity issue reserved for employees
The extraordinary portion of the Combined Ordinary and
Extraordinary General Meeting of September 12, 2003,
authorized the Board of Directors, at its sole initiative, to
proceed with a new equity issue reserved for French
employees, subject to a limit of 2.5% of the total shares
comprising the company's share capital at the time the
authorization was used, specifically by means of an FCPE.
At its meeting on March 3, 2004, the Board of Directors
used this authorization to set the subscription price for the
shares to be issued at €13.75 each, and specified that these
shares would be subscribed for by the Ubi Actions FCPE.
The Board of Directors took note of this equity issue at
its meeting on May 18, 2004. Employees subscribed
99,627 shares via the Ubi Actions FCPE.
The extraordinary portion of the Combined Ordinary and
Extraordinary General Meeting of July 23, 2004, authorized
the Board of Directors, at its sole initiative, to proceed with
anew equity issue reserved for French employees, subject to
alimit of 2.5% of the total shares comprising the company's
share capital at the time the authorization was used,
specifically by means of an FCPE.
At its meeting on November 29, 2004, the Board of
Directors used this authorization to set the subscription
price for the shares to be issuedat €12.88 each, and
specified that these shares would be subscribed for by the
Ubi Actions FCPE.
The Board of Directors took note of this equity issue
at its meeting on March 1, 2005. Employees subscribed
270,405 shares via the Ubi Actions FCPE.