Ubisoft® sets up a new equity line
- This line replaces the prior one set up in 2012
Paris, March 30, 2015 - Today, Ubisoft® announced that it has set up a new equity line to strengthen its external growth capacity. It replaces the prior line, signed in 2012 and that has expired without being used.
Description of the equity line
The equity line is set up with Crédit Agricole Corporate and Investment Bank in accordance with the authorization given by the Company's shareholders at the General Meeting held on June 27, 2013. The transaction entailed Crédit Agricole Corporate and Investment Bank taking up share issue warrants (BEA) which it may only exercise at the discretion of Ubisoft®, with a view to enabling the Company to carry out successive capital increases representing a maximum aggregate nominal value of €835,450 (approximately 9.9% of Ubisoft Entertainment's share capital). The price of the shares issued at the time of each capital increase will represent a maximum 4.5% discount on the weighted average Ubisoft® share price for the three trading days preceding the pricing date.
Based on the current share price, the amount of equity that could be raised through this line could reach a total of some €180 million.
By putting in place this equity line, Ubisoft® will be able to carry out share issues in accordance with its financing requirements, taking into account the liquidity observed during the trading days preceding its request to draw on the line. The new shares issued will be subsequently sold on the market as Crédit Agricole Corporate and Investment Bank does not intend to keep them.
Those capital increases would take place over an initial period of two years, which may be extended to three years.
Potential impact of this equity line on a 1% stake in the Company held prior to the share issue (based on the number of shares making up the capital as of 28 February 2015, ie 109,309,503):
| Before issue | After issue | ||
| Non-diluted basis | Diluted basis | ||
| Value before and after the issue of 10,780,000 new shares | 1.00% | 0.91% | 0.8507% |
Contact
| Investor relations Jean-Benoît Roquette SVP Investor Relations + 33 1 48 18 52 39 Jean-benoit.roquette@ubisoft.com |
Disclaimer
This statement may contain estimated financial data, information on future projects and transactions and future business results/performance. Such forward-looking data are provided for estimation purposes only. They are subject to market risks and uncertainties and may vary significantly compared with the actual results that will be published. The estimated financial data have been presented to the Board of Directors and have not been audited by the Statutory Auditors. (Additional information is specified in the most recent Ubisoft Registration Document filed on June 26, 2014 with the French Financial Markets Authority (l'Autorité des Marchés Financiers)).
About Ubisoft
Ubisoft is a leading creator, publisher and distributor of interactive entertainment and services, with a rich portfolio of world-renowned brands, including Assassin's Creed, Just Dance, Tom Clancy's video game series, Rayman, Far Cry and Watch Dogs. The teams throughout Ubisoft's worldwide network of studios and business offices are committed to delivering original and memorable gaming experiences across all popular platforms, including consoles, mobile phones, tablets and PCs. For the 2013-14 fiscal year Ubisoft generated sales of €1,007 million. To learn more, please visit www.ubisoftgroup.com.
