Ubisoft 2005 Annual Report Download - page 131

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5
129
UBISOFT • 2006 ANNUAL REPORT
FINANCIER
INFORMATION ON THE COMPANY
No bonds were exercised during the fiscal year. 1,400,699 bonds were bought back by the company and cancelled.
As of March 31, 2006, 1,749,301 bonds were not yet converted.
c) At its meeting of March 12, 2001, the Board of Directors used the authorization granted by the Extraordinary
General Meeting of March 9, 2001 to issue 53,266 share subscription warrants with a total face value of €16,240.70.
Chief characteristics of the share subscription warrants of March 12, 2001:
Initial number
of warrants: 53,266, with one warrant entitling its holder to subscribe for 1.0381 shares with a face value of €0.31
(following the adjustment made in connection with the issue of warrants for the purchase of existing sha-
res and/or subscription of new shares in May 2003).
Issue price: €0.01.
Strike price: €40.29.
Exercise period: December 28, 2001 to March 11, 2006.
Rubicon INC converted its 53,266 warrants. 55,290 shares were subscribed for on October 24, 2005.
d) At its meeting of April 25, 2003, the Board of Directors used the authorization granted by the Combined
General Meeting of September 12, 2002, to issue and allocate, free of charge, warrants for the purchase of
existing shares and/or the subscription of new shares to all shareholders on May 14, 2003.
Chief characteristics of the warrants for the purchase of existing shares and/or the subscription of new shares of May 14, 2003:
Initial number
of warrants: 17,540,082 (15 BSA entitle the holder to one share).
Strike price: €28.
Term: May 14, 2002 to May 14, 2006, inclusive.
The 1,169,733 subscription warrants granted to Ubisoft Entertainment SA were cancelled. 2,331,615 share subscription
warrants were exercised during the fiscal year. 152,468 shares were created and 2,973 shares were delivered on directly-
held shares.
As of March 31, 2006, 13,316,874 subscription warrants were not yet converted.
e) At its meeting of November 3, 2003, the Board of Directors used the authorization granted by the Combined
General Meeting of September 12, 2002 to issue OBSAR bonds (bonds with redeemable share subscription war-
rants).
Characteristics of the bonds:
Number: 716,746 bonds.
Nominal issue
price: €76.70.
Term of bond: Five years from the settlement date.
Nominal rate,
yield: The bonds will bear interest at a variable rate payable quarterly in arrears. The annual nominal rate is
based on the 3-month Euribor.
Normal
redemption: The bonds will be redeemed on one occasion on December 2, 2008 by redemption at par, i.e. €76.70 per
bond.
As of March 31, 2006, there were 716,741 outstanding bonds. Five bonds were redeemed.
Characteristics of the BSARs (redeemable share subscription warrants):
Number of BSARs: 1,433,492 BSARs (two BSARs are attached to each bond).
Parity: 1 BSAR entitles the holder to subscribe for one new share.
Strike price: €38.35.
Exercise period: The BSARs may be exercised between December 3, 2003 and December 2, 2008, subject to the provisions gover-
ning the early redemption of BSARs at the discretion of the issuer and the provisions concerning circumstances
under which the exercise of BSARs may be suspended.
As of March 31, 2006, there were 1,433,288 outstanding BSARs.
204 BSARs were exercised during the fiscal year.