Ubisoft 2002 Annual Report Download - page 74

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2003
74
FINANCIAL
REPORT
IX.Investment securities
Investment securities are booked at acquisition cost. At year-end,any capital losses are provisioned.
X.Bond redemption premium
The original amount of the redemption premium of the con-
vertible exchangeable bonds (OCEANE) posted to assets is
K16,380.This premium is amortized in proportion to accrued
interest, i.e. K2,699 on March 31,2003.
Moreover, the buy-back of 1,200,699 bonds resulted in a
decrease in the redemption premium of K6,244. The net
redemption premium as of March 31, 2003 was K7,437.
XI.Accruals and deferrals
(asset adjustment account)
This item includes accrued expenses, the costs of convertible
bond issues amortized over the duration of the issue, acquisi-
tion costs for assets depreciated over three years and
exchange conversion adjustments to assets for receivables
and debts expressed in foreign currencies.
XII.Share capital
The company made a commitment to dispose of directly held stock exceeding 1% of its stock before September 30,2003.
Nature Number Av. price Gross value Closing Provision Net value Percentage
Kprice KKof capital
Own shares 1,169,733 30.2583 35,394 10.64 22,948 12,446 6.67%
UCITS 2,536 4,639.18 11,765 - 11,765 -
TOTAL 47,159 24,211
As of 03.31.02 As of 03.31.03
Cumulative Increase Decrease Cumulative
Accrued expenses 2,025 1,650 2,025 1,650
Costs of issuing of debt securities and OCEANE bonds 4,107 - 1,938 2,169
Acquisition costs for business assets 309 - 181 128
Exchange conversion adjustment to assets 181 577 181 577
TOTAL 6,622 2,227 4,325 4,524
Balance on 31/03/02 Appropriation Capital increase in cash, Earnings Balance on Proposed Balance on
Kof FY 01/02 by bond conversion and FY 02/03 31/03/03 appropriation of 31/03/03 after
earnings conversion to euros KKFY 02/03 appropriation of
KKearnings FY 02/03 earnings
KK
Capital 5,384 53 5,437 5,437
Issue premium 266,406 1,337 267,743 267,743
Legal reserves 505 505 505
Regulated reserves 238 238 238
Other reserves 11,665 11,665 11,665
Loss account reserve
brought forward (8,409) (24,390) (32,799) 5,900 (26,899)
FY Earnings (24,390) 24,390 5,900 5,900 (5,900) -
Investment grants 306 (212) 94 94
TOTAL 251,705 0 1,178 5,900 258,784 0 258,784