Assystem - 2015 Registration Document

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

Treasury shares

Treasury shares 2015

2014

Number of shares Beginning of year

388,117 829,777 (373,988) (105,057) (58,700) 680,149

1,829,333 515,270 (1,850,206)

Purchase of treasury shares Sale of treasury shares

Treasury shares granted on the exercise of BSAAR stock warrants

–

Treasury shares granted to employees and officers

(106,280) 388,117

YEAR-END

(12.3)

(6.6)

Value of treasury shares recognised in equity (in € millions)

Odirnane bonds In the second half of 2014, the Group issued perpetual bonds redeemable in cash and/or in new or existing shares (Odirnane bonds). The method used to account for these Odirnane bonds and the bonds’ general characteristics are described in Note 3 – Basis of preparation and summary of significant accounting policies. The bonds’ main financial characteristics are set out in the table below:

Post-tax issuance costs charged against the value of the instruments

Annual nominal coupon from 17/07/2014 to 16/07/2021

Value recognised in consolidated reserves

Annual nominal coupon as from 17/07/2021 * 6-month Euribor + 800 basis pts

Number of bonds issued

Maturity at issue date

Amount issued

Odirnane bonds * Step-up clause.

€160 million

5,602,240

Perpetual

4.5%

1.6

158.4

BOND DEBT

NOTE 18

Ornane bonds On 6 July 2011, the Group issued bonds redeemable in cash and/or in new or existing shares (Ornane bonds) for an aggregate €92 million. The method used to account for these Ornane bonds and the bonds’ general characteristics are described in Note 3 – Basis of preparation and summary of significant accounting policies. The bonds’ main financial characteristics are set out in the table below:

Expenses charged in accordance with the effective interest method

Embedded derivative at issue date

Debt component at issue date

Coupons paid during the year

Number of bonds outstanding at 31 December 2015

Maturity at issue date

Coupon

Amount issued

Ornane bonds

92.0

1,234,858 01/01/2017

4.0%

1.1

79.3

1.9

10.8

At 31 December 2015, 1,234,858 Ornane bonds were still outstanding, representing a total nominal amount of €27.2 million.

2015

2014

In millions of euros

Beginning of year Ornane redemptions

25.6

84.5

–

(64.8)

Amortised cost YEAR-END

0.8

5.9

26.4

25.6

The €1.4 million change in fair value of the outstanding Ornane bonds is detailed in Note 33 – Other financial income and expenses. The rate applied for calculating the debt component and embedded derivative at the issue date was 6.63%.

106

ASSYSTEM

FINANCIAL REPORT 2015