Ubisoft 2008 Annual Report Download - page 133

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131
UBISOFT ANNUAL REPORT 2009
fI n a n c I a l s t a t e m e n t s 02
2.1.5 Notes to the consolidated nancial statements
The notes and tables that follow are presented in thousands of euros, unless expressly stated otherwise.
2.1.5.1 Company presenting the consolidated nancial statements
Ubisoft Entertainment is domiciled in France.
The consolidated nancial statements for the year ended March 31, 2009 cover Ubisoft Entertainment and its subsidiaries (collectively
referred to as "the Group") together with interests in associates.
The consolidated nancial statements were approved by the Board of Directors on May 27, 2009 and will be presented to the General
Shareholders' Meeting on July 10, 2009.
2.1.5.2 Highlights of the scal year
• Disposal of Ubisoft shares
1,243,121 shares covered by the equity swap agreement signed with Calyon were disposed of, at an average price of
€61.68 generating €8.8 million nancial income.
• Two-for-one stock split
Using the authorisation granted at the Shareholders’ Meeting held on September 22, 2008 the Board of Directors of Ubisoft
Entertainment SA decided to carry out a two-for-one split of the Ubisoft Entertainment SA share on November 14, 2008. The value
of Ubisoft Entertainment SA shares was set at €0.0775, doubling the number of shares as a result.
The aim of this two-for-one stock split was to increase liquidity and accessibility to the shares.
• Signature of a new syndicated loan agreement in May 2008
This new syndicated loan agreement amounts to €180 million over ve years. It has not been exercised during the scal year.
2.1.5.3 Changes in the consolidation scope
Goodwill recorded on scal year acquisitions (India, Hybride, Massive, Southlogic and Action Pants) mostly corresponds to human
capital, which could not be identied separately.
• April 2008: Creation of Ubisoft Entertainment India Private Ltd, the rst development studio in India, and acquisition of Gameloft
India's assets
Created in April 2008 and wholly owned by Ubisoft Entertainment SA, Ubisoft Entertainment India Private Ltd signed an agreement
with Gameloft on April 15, 2008 to purchase the assets of its development studio based in Pune, India.
Goodwill amounts to INR 74.6 million (€1.1 million at the closing exchange rate). Measurement of fair values on the date ownership
was transferred did not result in any adjustments:
03.31.09
Identiable assets 0.1
Goodwill 1.1
Consideration paid in cash 1.2
Cash acquired 0.0