Ubisoft 2014 Annual Report Download - page 73
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Management Report
2014
68
3.3.10 SHARE BUYBACK PROGRAM
3.3.10.1 AUTHORIZATION IN PLACE AT THE TIME OF THIS REPORT
LEGAL FRAMEWORK
The Combined General Meeting of June 27, 2013, renewed the authorization previously granted to the
Board of Directors by the Combined General Meeting of September 24, 2012, allowing the Company
to buy back its own shares in accordance with article L 225-209 et seq. of the French Commercial
Code (hereinafter “Buyback Program”).
POSITION AT MARCH 31, 2014
Percentage of own shares held directly and indirectly
0.44%
Number of shares canceled over the previous 24 months
N/A
Number of shares in portfolio
Liquidity agreements
Stock option hedges
106,680
360,938
Portfolio carrying amount
€2,734,358.12
Portfolio market value
(1)
€6,079,034.00
(1)
Closing price on March 31, 2014: €13
BREAKDOWN OF OWN-SHARE PURCHASES AND SALES OVER THE YEAR
(Article L. 225-211 of the French Commercial Code)
Number of shares held in the Company’s name as at March 31, 2013
511,523
Number of shares acquired over the year
1,264,960
Average price on acquisition
€10.51
Number of shares sold over the year
1,308,865
Average price on sale
€10.47
Number of shares canceled over the year
N/A
Execution fees
N/A
Number of shares held in the Company’s name as at March 31, 2014
467,618
Value of shares held in the Company’s name as at March 31, 2014
(2)
€2,734,358.12
Par value of shares held in the Company’s name as at March 31, 2014
€36,240.40
Number of shares used over the year
1,308,865
Reallocation taking place over the year
N/A
Percentage of capital held as treasury shares as at March 31, 2014
0.44%
(2)
Measured at purchase price
ALLOCATION OF TREASURY SHARES BY OBJECTIVE
Liquidity agreements
Stock option hedges
Number of treasury shares
106,680
360,938
3.3.10.2 LIQUIDITY AGREEMENTS
Since January 2, 2006, the Company has set Exane BNP PARIBAS the task of implementing a
liquidity agreement in line with the AMAFI code of ethics recognized by the Autorité des Marchés
Financiers (AMF), hereinafter the “Agreement,” with a one-year automatically renewable term.
By virtue of an amendment to the Agreement dated April 5, 2011, the total figure allocated to the
Agreement was increased to €1,700,000. The Company allocated this amount for the implementation
of this agreement over the last financial year.