Ubisoft 2001 Annual Report Download - page 62

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62
■Chief characteristics of the third convertible bond issue, OCEANE
(bond convertible/exchangeable into new and/or existing shares):
At its meeting on October 13, 2001, with the authorization granted by the Extraordinary General Meeting of October 19, 2001
the Board of Directors agreed to issue bonds with the option of conversion into and/or exchange for new or existing shares in
the company to a total maximum value of about 172.1 million Euros.
Number and face value: 3,150,000 bonds with a face value of 47.50
Each bond entitles the bearer to one share
Issue price: 47.50 per bond
Due date and settlement day: November 30, 2001
Term of bond: 5 years from date of settlement
Annual yield: 2.5% per year, payable on November 30, of each year.
Gross redemption yield: 4.5% on date of settlement (if there is no conversion and/or exchange of shares,
and if there is no accelerated amortization)
Normal redemption: the bonds would be redeemed in full on October 30, 2006 by redemption at a price
of 52.70, or roughly 110.94% of their face value.
On March 31, 2002 no convertible bond had been exercised.
XIV. SUNDRY CREDITORS AND ACCRUIED EXPENSES
Sundry creditors and acrrued expenses break down as follows :
03.31.02 03.31.01
Social security liabilities 9,293 8,106
Tax liabilities 20,818 13,622
Other debts* 19,539 8,198
Deferred income 5,229 4,546
Total 54,879 34,472
* Credits to be issued and credit balances for accounts receivable