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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
32
and attendance criteria and the vesting is subject to attendance criteria.
As of March 31, 2012, a total of 1,787,200 rights to performance shares under the existing plans were outstanding,
representing 6.1% of the Company’s outstanding capital as of that date.
Plan
Number of
employees
Number of
rights to
performan
ce shares
(1)
Grante
d as of
03/31/
12
Granted as of
May 23, 2012,
subject to
attendance
criteria at the
vesting date
Valuatio
n of the
shares
Vesting date
Cancelled
performan
ce shares
during FY
2011/2012
May 23, 2011
36
962,290
-
182,147
€2.77m
May 23, 2013
90
Out of which:
- Corporate Officers (“mandataires
sociaux”)
1
500,000
-
94,750
€1.4m
- Excom team (“membres de l’équipe de
direction”)
2
420,000
-
79,590
€1.2m
- Managers (“cadres”)
33
42,290
-
7,807
€0.1m
- Employees
-
-
-
-
-
Out of which:
- top 10 employees excl. corporate officers
962,030
-
182,116
€2.7m
Sept. 30, 2011
5
725,000
-
-
€1.1m
Sept. 30, 2013
150,000
Out of which:
- Corporate Officers (“mandataires
sociaux”)
1
400,000
-
-
€0.6m
- Excom team (“membres de l’équipe de
direction”)
1
100,000
-
-
€0.2m
- Managers (“cadres”)
3
225,000
-
-
€0.3m
- Employees
-
-
-
-
Out of which:
Top 10 employees excl. corporate officers
325,000
-
-
€0.5m
Nov. 4, 2011
2
250,000
-
-
€0.3m
Nov. 4, 2013
-
Out of which:
- Corporate Officers (“mandataires
sociaux”)
-
-
-
-
-
- Excom team (“membres de l’équipe de
direction”)
2
250,000
-
-
€0.3m
- Managers (“cadres”)
-
-
-
-
-
- Employees
-
-
-
-
-
Out of which:
Top 10 employees excl. corporate officers
250,000
-
-
€0.3m
(1) Final grant and vesting are subject to performance and attendance criteria, as described in the Section “Description of the
performance share plans” of the present report over a 2 year acquisition period.
Paris, May 29, 2012 - The Board of Directors
8. RISKS TO WHICH THE BUSINESS IS EXPOSED
FINANCIAL RISKS
For further information on financial risks, see Note 24 “Management of market risks” to the consolidated financial
statements.
Liquidity, going-concern and operating loss risk
Information on going-concern risk and debt is included in Note 2.1 to the Consolidated Financial Statements in this
Registration Document.
The table below shows the cash-flow statements prepared by the Company for the past three Fiscal Years:
(€ millions)
Year ended
March 31, 2012
Year ended
March 31, 2011
Year ended
March 31, 2010
Cash flow from (used in) operating activities
o/w continuing operations
(12.9)
0.3
(8.5)
(11.5)
(2.3)
18.7
Net cash flow from (used in) investing activities
o/w continuing operations
o/w acquisitions of intangible and fixed assets
29.7
(2.0)
(4.5)
(16.9)
(12.4)
(12.7)
(0.1)
(11.2)
(12.7)
Net cash flow from (used in) financing activities
o/w continuing operations
of which net interest expense
(28.9)
(28.9)
(4.3)
32.4
32.4
(3.6)
(9.2)
(3.9)
(4.4)
Other cash flows*
0.3
0.2
0.8
Net change in cash and cash equivalents
(11.7)
6.8
(10.8)
Net cash flow used in operating activities – including
acquisitions of intangible and fixed assets
(17.4)
(21.2)
(15.0)
* Mainly the Impact of changes in exchange rates.