Ubisoft 2003 Annual Report Download - page 82

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FINANCIAL REPORT
2004
82
Note 9. Investment securities
Note 10. Bond redemption premium
The original amount of the redemption premium of the convertible exchangeable bonds (OCEANEs) taken to assets is
K¤16,380. This premium is amortized in proportion to accrued interest, i.e. K¤4,578 on March 31, 2004.
The buy-back of 1,400,699 bonds resulted in a decrease in the redemption premium of K¤7,284.
The net redemption premium as of March 31, 2004 was K¤4,518.
Note 11. Accruals
This item includes accrued expenses, the costs of convertible bond issues amortized over the duration of the issue, acquisition
costs for assets depreciated over three years and exchange conversion adjustments to assets for receivables and debts
expressed in foreign currencies.
As of 3/31/03 As of 3/31/04
Cumulative Increase Decrease Cumulative
Accrued expenses 1,650 1,223 1,650 1,223
Costs of issuing debt securities and OCEANE bonds 2,169 1,099 1,126 2,142
Acquisition costs for business assets 128 - 128 -
Exchange conversion adjustment to assets 577 741 577 741
TOTAL 4,524 3,063 3,481 4,106
3/31/04 3/31/03
Current assets
Equity holdings 224,074 198,287
Trade receivables 58,364 96,020
Other receivables 9,010 27,546
Debts
Miscellaneous borrowings
& financial debts 3,905 7,492
Trade creditors
and other accounts payable 4,533 10,370
Debts on fixed assets 14,455 12,365
Other debts 431 2,734
Financial income 1,235 2,329
Financial charges 931 485
3/31/04 3/31/03
Interest on borrowings
from credit institutions 1,452 1,441
Bank charges payable 264 499
Total borrowings & financial debts 1,716 1,940
Trade payables, invoices not yet received 9,827 9,558
Credits to be issued 8,908 2,266
Tax and social security liabilities 1,572 698
TOTAL 22,023 14,462
Note 12. Payables Note 13. Items relating to affiliated companies
Nature Company Number Avg. price, Gross value, Closing price, Provision, Net value, % of
name ¤ K¤ ¤ K¤ K¤ capital
Own shares Ubisoft
Entertainment SA 40,249 (1) 25.3481 1,020 19.70 227 793 0.23%
Mutual fund CLAM EONIA 79 181.871 14,368 181.931 - 14,368
Mutual fund CPR CASH SI 966 18.763 18,125 18.768 - 18,125
Open-ended
investment trust SOGEMONE 19 223.178 4,241 223.167 0.2 4,241
Open-ended CENTRALE
investment trust PIBOR 2,024 2.769 5,605 2.770 - 5,605
TOTAL 43,359 43,131
(1) Including the 5,500 shares in the liquidity contract.