Ubisoft 2016 Annual Report Download - page 180

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Financial statements
5Separate fi nancial statements of Ubisoft EntertainmentSA for the year ended March31, 2016
of internal performance (subscription options and preference shares)
and share price performance (preference shares) conditions.
The total gross compensation owed by the Company to corporate
executive offi cers during the fi nancial year was €881 thousand.
Corporate executive offi cers are not eligible for any severance or non-
compete indemnity. They no longer benefi t from a supplementary
pension scheme by virtue of their position within the Company.
Compensation of corporate offi cers
In consideration – very partial – of the responsibilities assumed and
also the time spent preparing Board and/or committee meetings
and actively participating therein, directors receive directors’ fees
consisting of a fi xed component and a variable component.
The General Meeting of November 20, 2013 set the maximum annual
amount of directors’ fees that can be paid to members of the Board
of Directors and/or committees at €450,000.
During the 2015/2016 fi nancial year, members of the Board of
Directors received €429 thousand in directors’ fees.
There are no agreements to compensate Board members if they
resign or are dismissed without real cause, or if their employment
is terminated due to a public offering.
No loans or advances were made to the Company’s directors under
Article L. 225-43 of the French Commercial Code.
NOTE28 CONTINGENT ASSETS AND LIABILITIES
NOTE29 EVENTS AFTER THE REPORTING PERIOD
NOTE30 SUBSIDIARIES AND SHAREHOLDINGS (MARCH31, 2016)
Contingent liabilities
A tax audit is being conducted on the Company for the period from April 1, 2012 to March 31, 2015. The audit began in March 2016. To
date, no adjustments have been proposed. Consequently, no provision has been recognized in the fi nancial statements.
N/A.
Country Currency
Capital
(inthousands of
currency units)
Reserves and retained
earnings (losses),
before allocation
ofearnings
(inthousands
ofcurrency units)
Subsidiaries (at least 50% of capital held)
UbisoftInc. United States US dollar 90,405 102,769
Ubisoft EMEASAS France Euro 11,960 22,976
Ubisoft InternationalSAS France Euro 50,008 6,321
Ubisoft FranceSAS France Euro 20,623 7,734
Ubisoft GmbH Germany Euro 11,950 20,662
Ubisoft EntertainmentInc. Canada Canadian dollar 3,887 147,965
OwlientSAS France Euro 80 9,628
Other French subsidiaries*
Other foreign subsidiaries*
TOTAL
Investments (between 10% and 50% of capital held)
* Information on signifi cant subsidiaries is detailed. Other subsidiaries comprise a signifi cant number of subsidiaries, but the value of the shares is not signifi cant
- Registration Document 2016
178