Ubisoft 2006 Annual Report Download - page 116
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UBISOFT • FINANCIAL REPORT 2007
The breakdown of borrowings by currency is as follows:
Bond debentures:
Bond debenture - Bonds convertible/exchangeable into new and/or existing shares (OCEANE)
Chief characteristics of this bond debenture:
Maximum amount: €172.5 million
Number: 3,150,000 bonds (as a result of the adjustment made in connection with the issue of
warrants for the purchase of existing shares and/or the subscription of new shares in
May 2003). One bond entitles its holder to subscribe for 1,037 shares.
Nominal issue price: €47.50
Dated date and settlement date: November 30, 2001
Bond term: Five years from settlement date.
Expiration date: November 30, 2006
Annual yield: 2.5% per year, payable in arrears on November 30 of each year
Gross redemption yield: 4.5% on the settlement date (if no conversion into and/or exchange for shares and no
early redemption)
Normal redemption: Redemption in full on November 30, 2006 at a price of €52.70, i.e. 110.94% of face
value.
Transactions completed during the fiscal year ended March 31, 2007:
The settlement date was November 22, 2006.
During the fiscal year ended March 31, 2007, 475,998 shares with a face value of €0.31 were created following the
conversion of 459,013 OCEANE, and 1,290,288 OCEANE were redeemed.
OBSAR (bonds with redeemable share subscription warrants).
Characteristics of the bonds:
Number: 716,746 bonds
Nominal issue price: €76.70
Bond term: 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.
Characteristics of the BSAR (redeemable share subscription warrants):
Number of BSAR: 1,433,492 BSAR (two BSAR are attached to each bond).
Parity: One BSAR entitles its holder to subscribe for one new share with a face value of €0.31.
Strike price: €38.35
Exercise period: The BSAR may be exercised between December 3, 2003 and December 2, 2008,
subject to the provisions governing the early redemption of BSAR at the discretion of
the issuer and the provisions concerning circumstances under which the exercise of
BSAR may be suspended.
03/31/2007 03/31/2006
Euros 37,517 196,117
US dollars 18 -
Pounds sterling 46 17
Canadian dollars 7,093 5,436
Danish kroner 11 11
Borrowings 44,685 201,581