Ubisoft 2014 Annual Report Download - page 232
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Corporate Information
2014
227
Insertion of clauses relating to preference shares in Article 7 (former Articles 7 and 8)
III. Other rights attached to preference shares
Preference shares and the rights of their holders are governed by applicable provisions
of the French Commercial Code and by provisions given in the Articles of Association
that apply thereto.
Preference shares do not have a preferential subscription right for any share capital
increase or transaction with a right to ordinary shares. However, the conversion ratio
referred to in 2.2 below shall be adjusted in order to preserve the rights of holders of
preference shares, in accordance with legal and regulatory conditions and the conditions
set out in these Articles of Association.
Preference shares shall be fully paid up when issued via capitalization of the same
amount of reserves, premiums or earnings of the Company.
Features of preference shares
1. Right to liquidating dividend and right to dividends
Each preference share shall give rights to the liquidating dividend equal to the
proportion of the share capital that it represents, up to the Conversion Date (as
defined in Article 2.2 of these Articles of Association).
Each preference share shall have a dividend distribution right equal to 1% of the
distribution right.
2. Conversion
Subject to fulfilment of the conditions set out in Article 2.2 below, preference shares
shall be converted into a number of ordinary shares in accordance with 2.3 below.
2.1 Conversion Date
As preference shares may be issued only within the context of bonus shares
granted to employees and/or corporate officers of the Company and directly or
indirectly associated companies or groups – in accordance with the provisions of
articles L.225-197-1 et seq. of the French Commercial Code, the conversion date
(“Conversion Date”) shall be directly linked to the vesting or retention periods, as
the case may be, as provided for in the bonus share grant plan, and may under no
circumstances take place before a minimum period of 4 years.