LEGRAND / 2018 Registration document
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APPENDIX APPENDIX 1
R NOTE 2 – ASSETS
2.1
INTANGIBLE ASSETS
December 31, 2018 (in € thousands)
Gross value at beginning of period
Additions for the year
Disposals for the year
Gross value at end of period
Software at cost
479
-
-
479
Amortization of software
(479)
-
-
(479)
INTANGIBLE ASSETS, NET
0
-
-
0
2.2
INVESTMENTS
December 31, 2018 (in € thousands)
Gross value at beginning of period
Changes during the year
Gross value at end of period
Shares in subsidiaries and affiliates Legrand France SA
3,773,659
-
3,773,659
3,773,659
-
3,773,659
Receivables from subsidiaries and affiliates Loan to Legrand France SA
878,962
(95,252)
783,710
878,962
(95,252)
783,710
Other investments Treasury shares held for cancellation
0
34,934
34,934
Other treasury shares
2,476
16,965
19,441
Other long-term receivables
20,390
(17,033)
3,357
Deposits and guarantees
24
24
48
22,890
34,890
57,780
Provisions for impairment Impairment of other treasury shares
0
(1,933)
(1,933)
0
(1,933)
(1,933)
TOTAL INVESTMENTS, NET
4,675,511
(62,295)
4,613,216
2.2.3 Other investments This item includes shares acquired under share buyback programs, shares purchased under the liquidity contract and the cash and short-term investments held in the liquidity account (see note 1.4). Moreover, on May 29, 2007, Legrand appointed a financial institution to maintain a liquid market for its ordinary shares on the Euronext Paris market under a liquidity contract complying with the Code of Conduct issued by the AMAFI (French Financial Markets Association) approved by the AMF on March 22, 2005. €15.0 million in cash was allocated by the Company to the liquidity contract. As of December 31, 2018, Legrand held 350,219 shares (40,000 as of December 31, 2017) acquired under this contract at a total cost of €19,441,166 which are recorded under “Other treasury shares”. The shares are depreciated at December 31, 2018 for €1,932,528 euros.
For other treasury shares, changes during the year correspond to the net purchases (purchases net of sales) for the period. 2.2.1 Shares in subsidiaries and affiliates No impairment provision has been recorded on these shares. 2.2.2 Receivables from subsidiaries and affiliates On July 6, 2017, the Company set up a loan agreement with Legrand France SA for an amount of €480,632 thousand for a period of 4 years, expiring on July 6, 2021. This loan is subject to annual interest of 0.54% per annum. On October 9, 2017, the Company set up a loan agreement with Legrand France SA for an amount of €397,040 thousand for a period of 6 years, expiring on October 9, 2023. This loan is subject to an interest corresponding to the 1 month Euribor variable rate + 0.63%, with capitalization of interest.
A
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LEGRAND
REGISTRATION DOCUMENT 2018
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