Ubisoft 2006 Annual Report Download - page 135
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INFORMATION ON THE COMPANY
123
4
Issue and allocation, free of charge, of warrants for the purchase of existing shares and/or the subscription of new
shares to all shareholders on May 14, 2003 (BSA).
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.
Warrants exercised during the fiscal year ended on March 31, 2007:
The closing date for exercise of BSA was May 14, 2006.
During the fiscal year ended on March 31, 2007, 851,141 shares with a nominal value of €0.31 were created following the
exercise of 12,767,115 BSA.
OBSAR bonds (bonds with redeemable share subscription warrants).
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.
Characteristics of the BSAR (redeemable share subscription warrants):
Number of BSAR: 1,433,492 BSAR (two BSAR are attached to each bond).
Parity: 1 BSAR entitles the holder to subscribe for one new share with a nominal 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.
Warrants exercised during the fiscal year ended on March 31, 2007:
At its meeting of 19 January 2007, the Board of Directors decided that the BSAR and bonds in circulation would be subject
to early redemption on February 26, 2007, in accordance with Articles 2.2.7.3.2 and 2.5.6.1 of Operational notice 03-001
dated November 14, 2003 by the AMF. The early redemption of the BSAR led to the redemption of the bonds in circulation.
During the fiscal year ended on March 31, 2007, following the exercise of 1,313,907 BSAR, 69 shares with a nominal value
of €0.31 and 2,627,676 shares with a nominal value of €0.155 were created.