Atari 2009 Annual Report Download - page 22

ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
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A total of 405,438 ORANE bonds were issued, each with a nominal value of €100 and bearing annual interest of 0.5%.
Subject to possible adjustments, each ORANE bond will be redeemed in 26.26 new or existing shares, at the Company‟s
option. The ORANE bonds are listed under ISIN code FR0010690081.
A warrant is attached to each ORANE bond which is exercisable for one new share. A total of 405,438 warrants were
issued with an exercise price of €6 each and an expiration date of December 31, 2012.
For further information see Note 13 to the 2008-2009 consolidated financial statements.
Simplified public exchange offer for the ORANE bonds issued in 2008 and the stock warrants
issued in fiscal year 2006-2007
In February 2009, the Company completed the simplified public exchange offer for the bonds redeemable in new or
existing shares issued in January 2008 (ORANE 2008) and the stock warrants issued on December 22, 2006 and
January 24, 2007 (2007 warrants). The offer included the following terms:
 The exchange of one hundred 2007 warrants for one newly-issued 2009 warrant and the exchange of one ORANE
2008 bond for one newly-issued “ORANE 2009” bond.
 The ORANE 2009 bonds (listed under ISIN code FR0010696153) are subject to the same conditions as the ORANE
2008 bonds, except for the conversion ratio which has been set at 17 new or existing shares for one ORANE 2009
bond (instead of 8.94 new or existing shares for one ORANE 2008 bond, after adjustments).
 The 2009 warrants are subject to the same conditions as the 2007 warrants except for as follows:
 The exercise price has been set at €6 per 2009 warrant (instead of €15 per one hundred 2007 warrants
following the reverse stock-split);
 The expiration date has been set at December 31, 2012 (instead of December 31, 2009).
All of the transaction‟s terms and conditions were examined by an independent appraiser who concluded that they were
fair for minority shareholders.
For further information see Note 13 to the 2008-2009 consolidated financial statements.
SUBSEQUENT EVENTS
Liquidity agreement
In April 2009, the Company used the authorization given at the Shareholders' Meeting of September 25, 2008 to enter
into a liquidity agreement for an automatically renewable one-year term. The purposes of the agreement are to improve
the liquidity of the Company's shares and reduce long-term share price volatility. A cash amount of €200,000 has been
allocated to the liquidity account in connection with this agreement. As of June 30, 2009, the liquidity agreement covered
25,000 shares and €84,808.28.
Changing the Company’s corporate name from Infogrames Entertainment to Atari
In May 2009, the Board of Directors decided to implement the change in the Company‟s corporate name from
Infogrames Entertainment to Atari, in accordance with the decision taken by the Shareholders‟ Meeting of
September 25, 2008. This change will enable the Company to make the best use of the Atari brand by capitalizing on
strong worldwide brand recognition and customer loyalty – key drivers for implementing the Company‟s online, product
and licensing strategies. The Atari share is still listed on Euronext Paris under the same ISIN code (FR0010478248) but
its ticker has been changed to ATA.
Changes in senior management
In May 2009, the Company announced a series of changes in its senior management team, with Phil Harrison leaving his
position as President of Atari but retaining a seat on the Board of Directors of the Company, and the appointment of Jeff
Lapin as Chief Operating Officer.
New publishing strategy
In May 2009, the Company announced a reorganization plan for its publishing operations with the aim of maximizing
revenue generated by non-online intellectual property through the monetization of licenses and by entering into
publishing partnership agreements.
The first stages of this plan have already been implemented. For example, in May 2009, Atari announced its new
worldwide launch program for Ghostbusters: The Video Game, which includes an exclusive agreement with Sony
Computer Entertainment Europe for the launch of the game on the PS3 and PS2 in Europe and the PAL regions.