Ubisoft 2001 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 of the 2001 Ubisoft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

80
The company has made three convertible bond issues with the following characteristics:
■Chief characteristics of the first convertible bond issue:
Number and face value: 167,000 bonds with a face value of 91.47 (FF 600)
Issue price: 91.47 (FF 600) per bond
Due date and settlement day: October 10, 1997
Term of bond: 5 years and 173 days
Annual yield: 2% per year, or 1.83 (FF 12) per bond, payable on April 1 of each year starting
April 1, 1998
Gross redemption yield: 4.26% on October 10, 1997
Normal redemption: redeemed in full by April 1, 2003 by redemption at a price of FF 681.58,
or 113.6% of the issue price
On March 31,2002 the convertible bond is closed.
166,364 bonds were converted, 40,075 during this year.
636 bonds have been repaid early, from May 21 to August 20, 2001.
■Chief characteristics of the second convertible bond issue:
Number and face value: 314,815 bonds with a face value of 164.64 (FF 1,080)
As a consequence of the 5-for-1 stock split, two bonds allow five shares to be subscribed with a face value of 0.31
Issue price: 164.64 (FF 1,080) per bond
Due date and settlement day: July 16, 1998
Term of bond: 7 years
Annual yield: 3.80% per year, or 6.26 (FF 41.04) per bond, payable on July 16 of each year
Gross redemption yield: 3.80% on July 16, 1998
Normal redemption: amortized in full by July 16, 2005 by redemption at a price of 164.64 (FF 1,080),
or 100% of the issue price
163,721 bonds were converted, 1,019 during this year. 151,094 remain to be exercised.
■Chief characteristics of the third convertible bond issue O.C.E.A.N.E.
(bond convertible / exchangeable into new and/or existing shares):
Number and face value: 3,150,000 bonds with a face value of 47.50.
Each bond give you the right to obtain a share
Issue price: 47.50 per bond
Due date and settlement day: November 30, 2001
Term of bond: 5 years
Annual yield: 2.50% per year, or 1.1875 per bond, payable on November 30 of each year
Gross redemption yield: 4.50% on November 30, 2001
Normal redemption: amortized in full by November 30, 2006 by redemption at a price of 52.70,
or 110.94% of the issue price
None bond had been exercised during this year.