Ubisoft 2005 Annual Report Download - page 109

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3
107
UBISOFT • 2006 ANNUAL REPORT
FINANCIER
Corporate accounts of Ubisoft Entertainment SA as of March 31, 2006
The 1,169,733 warrants allocated to Ubisoft Entertainment SA were canceled. During the fiscal year, 2,331,615 warrants
were exercised, 2,973 shares were delivered from directly held shares and 152,468 shares were created. As of March 31,
2006, 13,316,874 subscription warrants remained to be converted.
Stock options
The capital increases and issue premiums during the past fiscal year were in part the result of the exercise of stock options.
For the record, the exercise conditions of the stock option plans are as follows:
* Limitation of the exercise period approved by the Board of Directors on November 2, 2005 to ensure compliance with the maximum period allowed by US law.
The other financial debts, totaling €32,442 thousand on the balance sheet, consist of current account advances made by
subsidiaries to the parent company. These advances have a maturity of less than one year.
4th 5th 6th 7th 8th 9th
Plan Plan Plan Plan Plan Plan
Total number of shares allotted 40,471 320,926 44,605 389,065 353,181 9,220
Start date for exercising options 12.08.01 04.09.02 04.25.02 01.19.05 10.16.03 01.29.04
Expiration date for options 12.07.05 04.08.06 04.24.06 08.15.12 10.15.07 01.28.08
Option prices €38 €34.51 €34.51 €12.82 €9.20 €10.25
Options as of 04.01.2005 39,186 320,590 44,605 389,065 309,129 8,655
Options exercised during the fiscal year 22,907 175,488 21,886 63,100 36,251 1,575
Options canceled during the fiscal year 16,279 68,167 15,833 37,600 41,105 540
Options not yet exercised as of 31.03.2006 0 76,935 6,886 288,365 231,773 6,540
10th 11th 12th 13th
Plan Plan Plan Plan
Total number of shares allotted 71,796 388,150 496,050 677,946
Start date for exercising options 10.28.03 10.14.05 11.17.05 11.17.05 07.01.05 02.23.07
Expiration date for options 06.15.07*10.13.14 11.16.14 11.16.14 06.15.09* 02.22.11
Option prices €9.20 €15.50 €14.72 €15.47 €13.55 €31.64
(France) (Italy) (USA)
Options as of 04.01.2005 46,284 388,150 496,050
Options exercised during the fiscal year 13,143 49,658 26,271
Options canceled during the fiscal year 6,832 6,642 1,550
Options not yet exercised as of 31.03.2006 26,309 331,850 468,229 677,946
Note 15. Financial debt
Financial debt breaks down as follows:
03.31.06 03.31.05
Bond debentures 147,162 172,038
3.8 % convertible bond - 24,876
OCEANE (bonds exchangeable or
convertible to new or existing shares 92,188 92,188
OBSAR (bonds with redeemable share
subscription warrants) 54,974 54,974
Accrued interest 1,089 1,688
Advances in foreign currencies 5,432 40,930
Bank overdrafts 47,898 67,047
Financial debt 201,581 281,703
Fixed-rate debt 92,915 118,490
Variable-rate debt 108,666 163,213
à - 1 an De 1 à 5 ans + 5 ans
Maturities outstanding on 03.31.06 146,607 54,974 -