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Management Report
2013
63
VALUE OF CONVERTIBLE OR EXCHANGEABLE SECURITIES OR SECURITIES
3.3.2.6
COMPRISING SHARE WARRANTS
SHARE ISSUANCE WARRANTS (BEA) AS PART OF AN EQUITY LINE
Via the delegation of authority granted by the General Meeting of June 30, 2011 in its eleventh and
twelfth resolutions and the sub-delegation granted by the Board on March 9, 2012 to its Chairman and
Chief Executive Officer, it was decided on March 20, 2012 to issue, with cancellation of preferential
subscription rights of shareholders, share issuance warrants (BEA) exercisable at the discretion of the
Company, underwritten by C
RÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK (CACIB) - an
accredited investor within the meaning of Article L. 411-2 of the French Monetary and Financial Code,
through a private placement and for the establishment of an equity line.
Use during the year ended March 31, 2013
N/A
Type and category of BEA
The BEA issued by the Company are securities granting entitlement to capital within the meaning of
Article L. 228-91 et seq. of the French Commercial Code. The BEA have not and will not be the
subject of a request for trading on a regulated market or otherwise.
Form and method of registration of BEA
The BEA are issued only in the form of registered shares.
BEA exercise ratio
One (1) BEA entitles the holder to subscribe to one (1) new share at the subscription price hereinafter
defined, subject to any adjustments that may be made in response to financial transactions in
particular.
BEA unit price
€0.0001.
Maximum nominal amount of capital increases from the exercise of BEA
€728,500 or a maximum of 9,400,000 shares can be created.
Subscription price of one new share
The subscription price of one new share through the exercise of BEA shall be 95% of the weighted
average of trading days preceding price determination.
BEA exercise period
Two years from March 20, 2012 until March 20, 2014 with the option to extend for another year.
Market information
For each issue of new shares upon exercise of BEA by the Company, a Euronext notice shall be
published prior to admission to trading of these shares and shall indicate the number of shares issued
and the subscription price.
SHARE SUBSCRIPTION WARRANTS (BSA)
Under the authorization granted in its ninth resolution by the General Meeting of June 30, 2011, the
Board of Directors (i) at its meeting of March 9, 2012, decided on the principle of a free grant of BSA to
shareholders of the Company and approved the main characteristics of the BSA and (ii) at its meeting
of March 26, 2012, decided to proceed with the issue and free grant of 95,090,002 BSA to
shareholders of the Company, and decided on the schedule for the grant and the definitive
characteristics of the BSA.