Ubisoft 2012 Annual Report Download - page 8

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Management Report
2012
3
1.1.2 HIGHLIGHTS OF THE 2011/2012 FINANCIAL YEAR
April 2011 – Opening of a new credit line
Ubisoft Divertissements Inc. signed a bilateral credit line for a period of two years and amounting to
€25 million. This line is secured by Ubisoft Entertainment SA and follows the same covenants as other
credit lines.
June 2011 – Extension of Gameloft Equity Swap contract
The Equity Swap contract concluded on July 12, 2007 with Crédit Agricole Corporate and Investment
Bank (formerly Calyon) on Gameloft® shares has been extended for another two years, until July 15,
2013.
September 2011 – Sale of €8.5 million in receivables under the factoring agreement
The factoring agreement on Credit for Multimedia titles (Canada), concluded between BNC and
Ubisoft Divertissements Inc., allowed for the sale of receivables amounting to €8.5 million in the first
half of the year.
September 2011 – Sale of research tax credit receivables
Ubisoft Entertainment SA sold of a €3.6 million research tax credit claim for research expenditure
incurred in the year ended March 31, 2011 by the companies forming part of the French tax group; it
was assigned without recourse as a discount to Natexis.
September 2011 – Buyback of Ubisoft shares
Ubisoft bought on the market between September 8 and September 19, 2011, 400,000 Ubisoft shares
at an average price of €3.97, a share buyback authorized by the General Meeting of June 30, 2011
and implemented by the Board of Directors on the same date.
This treasury stock has been allocated to cover stock option plan 24, authorized by the Board of
Directors on March 9, 2012.
October 2011 – Partnership with France Télévisions to produce a television series of Raving
Rabbids™
In cooperation with France Télévisions, Ubisoft Motion Pictures will produce 78 mini episodes in CGI.
Raving Rabbids™ will debut on children’s television programming slot Ludo on France 3 in spring
2013.
October 2011 – Partnership with Nickelodeon to distribute the Raving Rabbids™ television
series
Partnership with Nickelodeon to distribute a television series of Raving Rabbids™ aimed at a global
audience. Nickelodeon will broadcast the series in twenty-six 30-minute slots on TV channels around
the world (except France) from 2013.
November 2011 to March 2012 – Sale of Gameloft shares
Disposal of 3,171,818 Gameloft shares at an average price of €4.32.
March 2012 – Details released on Assassin’s Creed® III
The next installment in the flagship franchise for habitual gamers will be released on October 30,
2012. The game will be set against the backdrop of the American Revolution and will feature a new
main character.
March 2012 – Sale of €22 million in receivables under the factoring agreement
The factoring agreement on Credit for Multimedia titles (Canada), concluded between the BNC and
Ubisoft Divertissements Inc., allowed for the sale of €22 million receivables in the second semester.