Ubisoft 2004 Annual Report Download - page 91

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89
UBISOFT > 2005 FINANCIAL REPORT
2
FINANCIAL REPORT FOR THE FISCAL YEAR ENDING MARCH 31, 2005
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 maximum 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
usedthis authorization to set the subscription price for the
shares to be issuedat €13.75 each, and specifiedthat 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 a new equity issue reserved for French
employees, subject to a maximum 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 November 29, 2004, the Board of
Directors usedthis authorization to set the subscription
price for the shares to be issued at €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.
Note 15 Financial debts
Financial debt breaks down as follows:
3.31.05 3.31.04
Bond debentures 172,038 172,038
•Convertible bond, 3.8% 24,876 24,876
•Bonds exchangeable or convertible 92,188 92,188
to new or existing shares (OCEANE)
•Bonds with redeemable share 54,974 54,974
subscription warrants (OBSAR)
Accruedinterest 1,688 1,717
Advances in foreign currencies 40,930 29,249
Bank overdrafts 67,047 28,476
Financial debt 281,703 231,480
Fixed-rate debt 118,490
Variable-rate debt 163,213
< 1 year > 1 year and < 5 years > 5 years
Maturities outstanding on 3.31.05 134,540 147,163 -