Atari 2009 Annual Report Download - page 181

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
181
Authorized by the Board of Directors on February 12, 2009.
Interested parties: Eugene Davis and BlueBay Asset Management, represented by Jeff Lapin.
5.12. AMENDMENT OF THE CREDIT FACILITY AGREEMENT ENTERED INTO WITH BANC OF AMERICA
The Board of Directors authorized the signing of addendum 8 to the Credit Facility Agreement dated April 21, 2006, the
purpose of which is to increase the principal amount of the credit facility extended by Banc of America Securities Limited
to €15 million and extend its maturity.
The foregoing agreement had no effect on the financial statements for the year ended March 31, 2009.
Authorized by the Board of Directors on March 22, 2009.
Interested parties: Gina Germano, Frank E. Dangeard and BlueBay Asset Management, represented by Jeff
Lapin.
In addition, as required by the French Commercial Code, we have been informed that the following agreement, approved
in a previous period, remained in force during the past fiscal year.
LOAN TO BB26 LLC
The Company agreed to extend a loan of €1 million to BB26 LLC, a Delaware (United States) corporation controlled by
Bruno Bonnell, for financing the development of online gaming communities. The loan, extended on June 7, 2007,
carries interest at 8% per annum (not capitalized) and was repayable on April 30, 2009. The shares of BB26 LLC were
pledged as security for the loan.
Under the agreement, should Infogrames Entertainment consider it advisable, the Group would have a priority purchase
option over BB26 LLC shares worth up to €5 million, priced on the basis of an enterprise value set by an independent
appraiser.
Infogrames Entertainment also has the option to convert the debt resulting from the loan into shares of BB26 LLC.
The loan was not repaid on maturity and was fully impaired in the financial statements for the year ended
March 31, 2009.
Villeurbanne and Lyon, July 31, 2009
The Statutory Auditors
Deloitte & Associés Pin Associés
Alain Descoins Jean-François Pin
Registered Statutory Auditor Registered Statutory Auditor
Corporate Officer