166 / 198
INFORMATION ABOUT THE COMPANY AND SHARE CAPITAL
7
INFORMATION ON THE SHARE CAPITAL
7.2.7
ODIRNANE BONDS
On 9 July 2014, the Company issued 5,602,240 Odirnane bonds representing a total amount of €159,999,974.40.
Total issue amount
€160 million
Issue date
09/07/2014
Maturity
Perpetual
Number of bonds issued
5,602,240
Number of bonds as at 31/12/2015
5,602,240
Nominal value (with 30% premium)
(1)
€28.56
Interest rate set until 16 July 2021
(2)
4.5%
(1) Reference price of €21.97.
(2) From 17 July 2021, the bonds will bear interest at an annual nominal rate equal to the six-month Euribor plus 800 base points, payable half-yearly in arrears on 17 July and 17 January
each year, and for the first time, if applicable, on 17 January 2022, subject to any suspension of interest payments.
The Odirnane bonds are admitted to trading on Euronext Paris (ISIN code FR0012032712).
The purpose of the Odirnane bond issue was:
(i)
to extend the maturity of the Group’s debt through the buyback
and redemption of the Ornane 2017 bonds, whose value on
the issue date was in the region of €89 million, and to further
reduce the Group’s dependency on bank borrowings for its
financial resources in order to maintain financial flexibility;
(ii)
to fund the Group’s general financing needs and its acquisition
projects and;
(iii)
to reinforce the balance sheet structure as a result of the equity
classification of the issue, in accordance with IFRS.
The nominal value of each Odirnane bond was set at €28.56,
representing a premium of 30% in relation to the reference Assystem
share price of €21.97 as quoted on Euronext Paris.
The Odirnane bonds were issued at par value on 17 July 2014, which
was also the settlement and delivery date. The bonds constitute direct,
general, unconditional, unsubordinated and unsecured commitments
for the Company.
From the issue date until 16 July 2021, the Odirnane bonds will bear
interest at an annual nominal rate of 4.50%, payable annually in
arrears on 17 July of each year (the “Annual Interest Payment Date”),
and for the first time on 17 July 2015, subject to any suspension of
interest payments.
As from 17 July 2021, the Odirnane bonds will bear interest at an
annual nominal rate equal to the six-month Euribor plus 800 base points,
payable half-yearly in arrears on 17 January and on 17 July of each
year, and for the first time, if applicable, on 17 January 2022, subject
to any suspension of interest payments.
Bondholders may exercise their right to redeem their bonds in shares
at any time from 40 days following the issue date until the 18
th
trading
day preceding 17 July 2021.
The AMF approved the Prospectus for the Odirnane issue under no. 14–
380 dated 9 July 2014.
For further information see Notes 2.33, 5, 17, 35 and 36 to the
consolidated financial statements in Chapter 6.1 of this Registration
Document.
7.2.8
STOCK OPTIONS
No stock options were awarded in 2015.
7.2.9
FREE SHARE AND PERFORMANCE SHARE AWARDS
During 2015, the Board of Directors awarded the following free shares and performance shares:
04/2015 plan
Date of GM
22/05/2014
Date of award
29/04/2015
Number of free shares or performance shares awarded
2,500 *
Number of beneficiaries
1
Vesting date
29/04/2017
End of lock-up period
29/04/2019
Number of free shares or performance shares vested
0
Number of free shares not yet vested
2,500
* Shares granted to a condition of presence.
166
ASSYSTEM
FINANCIAL REPORT
2015