Ubisoft 2013 Annual Report Download - page 98

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Financial Statements
2013
93
December 2012 – Bond placement of € 20 million
Pursuant to Article L.228-40 of the Commercial Code, the Board of Directors on December 14, 2012
authorized the issuance of bonds up to a total nominal amount of €20 million. Each with a nominal
value of 100,000 euro, these bonds were traded on the regulated market of Euronext Paris on 19
December 2012. This bond with a lifetime of 6 years carries a paying interest of 3.99%.
December 2012: Signing of an agreement of government support for R & D activities
Ubisoft Montpellier SAS and Ubisoft Paris SAS signed December 1, 2012 an agreement of
government support for R & D activities. The total amount of aid is 25% of the expenses incurred by
the two subsidiaries between December 1, 2012 and September 30, 2014, subject to the performance
by Ubisoft of a number of obligations. The maximum amount of support is €3.5 million.
January 2013: Ubisoft acquires THQ Montreal studio (purchase price detailed in § 1.6.3), and external
development rights on South Park Stick of Truth (purchase price 2.5 M€)
March 2013 - Sale of €11.2 million in receivables under the factoring agreement
The factoring agreement on the Canadian Credit Multimedia Shares agreement between CNB and
Ubisoft Divertissements Inc. enabled the assignment of a claim of €11.2 million in the first half.
April 2012 to March 2013 - Disposal of Gameloft Shares
Disposal of 2,142,165 Gameloft shares at an average price of €5.01.
CHANGES IN THE CONSOLIDATION SCOPE 1.6.3
January 2013: Acquisition of 100% stake in the Canadian studio THQ Montreal
Ubisoft acquired in January 23, 2013, 100% of the capital of the studio THQ Montreal, creator of AAA
games. The net assets and liabilities acquired correspond to the acquisition price of THQ Montreal,
therefore no goodwill was recognized.
In thousands of Canadian dollars
03/31/13
Net assets and liabilities acquired
2,500
Fair value of the consideration transferred
2,500
Cash acquired
229
The evaluation of goodwill is provisional until 31 March 2013.
March 2013: Merger of Ubisoft Workshop Inc. with Ubisoft Divertissements Inc. and Ubisoft Canada
Inc. with Ubisoft Divertissements Inc.
These operations had no impact on the consolidated accounts.
Opening of subsidiaries:
– June 2012 : creation of the subsidiary Ubisoft Motion Pictures Far Cry in France
– September 2012: creation of the subsidiaries Script Movie and Ubisoft Motion Pictures Ghost
Recon in France
– January 2013: creation of the subsidiary Ubisoft LLC in the US and the creation of the
subsidiary 9275-8309 Quebec Inc. in Canada
Deconsolidation:
March 2013: disposal of the subsidiary Ubisoft Sweden AB for its liquidation. This operation had no
impact on the consolidated accounts.