Ubisoft 2003 Annual Report Download - page 86

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FINANCIAL REPORT
2004
86
Characteristics of BSARs (redeemable share warrants):
Number of BSARs: 1,433,492 BSARs (two BSARs are attached to each bond).
Parity: One BSAR entitles the holder to subscribe for one new share.
Strike price: ¤38.35.
Strike period: The BSARs can be exercised at any time between December 3, 2003 and December 2,
2008, subject to the provisions governing the early redemption of BSARs at the
option of the issuer and those concerning circumstances under which the exercise
of BSARs may be suspended.
As of March 31, 2004, there were 1,433,492 BSARs in circulation.
The other financial debts, totaling ¤3,905,000, consist of current account advances made by subsidiaries to the parent company.
These advances have a maturity of less than one year.
Note 17. Other debts
3/31/04 3/31/03 3/31/03
Pro forma Former presentation
Trade creditors and credit notes to be issued - - 2,266
Miscellaneous 2,120 412 412
TOTAL 2,120 412 2,678
As of 3/31/03 As of 3/31/04
Cumulative Increase Decrease Cumulative
Exchange conversion adjustment to liabilities 649 236 649 236
Note 18. Accruals
This item only includes foreign exchange conversion adjustments to liabilities for receivables and debts.
As of 3/31/04 K¤ %
Europe 70,618 43%
USA 86,866 52%
Canada 8,361 5%
Rest of the world 27 NS
TOTAL 165,872 100%
2.2.5.5 Explanatory notes on the income statement
Note 19. Sales
Breakdown of sales by geographical area: