Atari 2011 Annual Report Download - page 68

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
68
NOTE 10 – CASH AND CASH EQUIVALENTS
Cash and cash equivalents reported in the consolidated cash flow statement respectively include (i) cash on hand and
demand deposits for €16.4 million, and (ii) highly liquid short-term investments (measured at market value at balance
sheet date) that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in
value.
At March 31, 2011 and 2010, there were no cash balances that could not be freely used.
NOTE 11 – EQUITY
11.1. CAPITAL STOCK
C
OMMON STOCK
At March 31, 2011, the Company had 24,328,970 common shares outstanding, fully paid up, with a nominal value of €1
each.
All shares are of the same class and may be held in either identifiable bearer (TPI) or registered form, at the holder's
option. Each share entitles its holder to one vote on resolutions submitted to the Company’s shareholders. All paid-up
shares held in registered form by the same shareholder for at least two years carry double voting rights, as do any
additional shares acquired pursuant to rights attached to registered shares carrying double voting rights.
D
IVIDENDS
The Board of Directors may recommend to the Company's shareholders that dividends be paid representing up to the
amount of the Company's distributable earnings and reserves. Decisions regarding dividends are made by the
Company's shareholders in a Shareholders' Meeting. The Group has not paid any dividends for the past three Fiscal
Years.
The table below shows changes in shares outstanding over the past two Fiscal Years:
Changes during the year ended March 31, 2011 reflected the following:
• The exercise of 426 stock warrants allocated in 2009, leading to the issuance of 488 new shares.
• The conversion of 145,948 ORANE bonds into 2,816,610 new shares.
• The creation of 264,769 new shares resulting from the conversion of OC B as part of the Cryptic earn out payment
• The creation of 118,748 new shares resulting from debt compensation as part of the Cryptic earn out payment
• The issuance of 14,732 new shares following the vesting of 14,732 free shares to Mathias Hautefort.
11.2. TREASURY SHARES
The Company and its subsidiaries held 2,470 treasury shares at March 31, 2011, unchanged from March 31, 2010.
11.3. STOCK WARRANTS
2009 warrants
In January 2009 the Company issued bonds redeemable for new or existing shares with stock warrants attached
(ORANE-BSA), resulting in the issue of 405,438 stock warrants (the "2009 warrants").
On February 11, 2009 the Company completed the simplified public exchange offer relating to (i) the ORANE bonds
issued by the Company on January 4, 2008 (ORANE 2008) under ISIN code FR0010560615 and (ii) the 2007 stock
(number of shares) March 31, 2011 March 31, 2010
Shares outstanding at the beginning of the year 21 111 153 12 973 390
Share issues 14 732 7 610 895
Exercise of stock warrants 488 22 194
Conversion of ORANE bonds 2 816 610 504 638
Conversion of OCEANE convertible bonds - 36
Creation of shares with debt compensation as part of Cryptic earn out payment 383 517
Shares outstanding at the end of the year 24 326 500 21 111 153