EURONEXT_Registration_Document_2017

FINANCIAL STATEMENTS

Notes to the Consolidated Financial Statements

Analysis of Cash flows on Acquisition

2017

In thousands of euros

Acquisition related costs

(2,899)

Included in cash flows from operating activities

(2,899)

Cash consideration

(131,674)

Less: Balances acquired

4,723

Included in cash flows from investing activities

(126,951) (129,850)

NET CASH FLOWON ACQUISITION

Acquisition Related Costs Acquisition related costs of €2.9 million have been expensed and are included in professional services in profit or loss. Related Transaction of 10.22% Minority Stake Theminority shareholderswill have to offer their shares in FastMatch Inc. for sale to the Group between the 2 nd and 4 th anniversary of the acquisition date. This right to acquire the remaining 10.22%minority stake by the Group meets the definition of a derivative financial instrument. The exercise price of this call option is based on an

EBITDA multiple which also is considered best proxy for fair value. The value of this instrument is therefore zero at initial recognition. The Group will continue to monitor this instrument over its lifetime and will recognise any future change in value through profit or loss. In addition, if the minority shares are sold to a third party, the Group has the obligation (or the right) to compensate (or to get compensated) for any variance between the price and a lower actual third party price offered.Whenever the value of the expected exercise price is lower than fair value, a negative value for the option will be recorded, for the part that relates to the ‘make-good’ condition.

NOTE 6 NON-CONTROLLING INTERESTS (“NCI”) Financial information of subsidiaries that are significant to the Group is provided below: Proportion of equity interest held by non-controlling interests:

% OF OWNERSHIP INTEREST HELD BY NCI 2017

PLACE OF BUSINESS / COUNTRY OF INCORPORATION

NAME OF ENTITY

2016

%

%

Company Webcast B.V.

The Netherlands

49.00

-

iBabs B.V.

The Netherlands

40.00

-

FastMatch Inc.

United States

10.22

-

6

The summarized financial information of these subsidiaries is provided below. This information is based on amounts before inter-company eliminations.

COMPANYWEBCAST B.V.

IBABS B.V.

FASTMATCH INC.

31 DECEMBER 2017

31 DECEMBER 2016

31 DECEMBER 2017

31 DECEMBER 2016

31 DECEMBER 2017

31 DECEMBER 2016

Summarised balance sheet (In thousands of euros)

Current assets

1,708

-

4,838

-

11,660

-

Current liabilities

1,345

-

1,300

-

3,476

-

Current net assets Non-current assets

363

-

3,538

-

8,184

-

1,101

-

24,333

-

43,536

-

Non-current liabilities

47

-

6,059

-

6,556

-

Non-current net assets

1,054 1,417

- -

18,274 21,812

- -

36,980 45,164

- -

Net assets

Accumulated NCI

694

-

8,725

-

4,616

-

159

2017 REGISTRATION DOCUMENT

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