Ubisoft 2008 Annual Report Download - page 94
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92
UBISOFTANNUAL REPORT 2009
1.3.2.2.3 Share buyback programme
1.3.2.2.3.1 Authorisation in place at the time of this report
Legal framework
The combined ordinary and extraordinary general meeting of September 22, 2008 renewed the authorisation previously granted
to the Board of Directors by the combined ordinary and extraordinary general meeting of July 4, 2007, allowing the company to
buy back its own shares in accordance with Article L.225-209 et seq. of the French Commercial Code (hereafter the “Buyback
Programme”).
Position as of March 31, 2009
Percentage of own shares held directly and indirectly 0.086%
Number of shares cancelled over the previous 24 months N/A
Number of shares in portfolio (a) 80,914
Portfolio carrying amount €1,007,567.06
Portfolio market value (b) €1,113,376.64
((a) Shares were all purchased under the liquidity agreement with Exane BNP Paribas.
(b) Closing price on 31 March 2009: €13.76.
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 OF MARCH 31, 2008 60,742 (a)
Number of shares acquired over the year 1,191,099
Average price on acquisition €23.20
Number of shares sold over the year 1,170,927
Average price on sale €23.30
Number of shares cancelled over the year N/A
Execution fees N/A
NUMBER OF SHARES HELD IN THE COMPANY’S NAME
AS OF MARCH 31, 2009 80,914
Value of shares held in the Company’s name as of March 31, 2009 (b) €1,007,567.06
Par value of shares held in the Company’s name as of March 31, 2009 (c) €6,270.84
Number of shares used over the year 1,170,927
Reallocation taking place over the year N/A
Percentage of capital held as treasury stock as of March 31, 2009 0.086%
(a) Two-for-one stock split taking effect on November 14, 2008.
(b) Measured at purchase price.
(c) Liquidity agreement with Exane BNP Paribas.
Allocation of treasury stock by objective
The own shares held by the Company were all purchased under the liquidity agreement with Exane BNP Paribas acting to ensure
trading liquidity and stability of the share price, as well as to avoid price lags unjustied by market trends.