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
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