MRM_REGISTRATION_DOCUMENT_2017

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General information on the issuer and its share capital

Consolidated financial statements for the year ended 31 December 2017

The change in fair value of interest rate caps over the period breaks down as follows:

31/12/2017

(in thousands of euros)

VALUE OF FINANCIAL INSTRUMENTS AT OPENING

0

Caps bought

- - -

Caps sold

Change in fair value

VALUE OF FINANCIAL INSTRUMENTS AT CLOSING

0

Principal characteristics of financial instruments held

Notional amount (in thousands of euros)

Fair value (in thousands of euros)

Maturing under 1 year

Maturing in 1-5 years

Maturing over 5 years

Benchmark rate

Strike rate

Contract type

Maturity date

20/01/2018

8,324 3-month Euribor

3.00%

- -

x

Cap

TOTAL

A 100 basis point increase in interest rates would have a €227 thousand impact on the Group’s financial expenses. With current interest rates being low, the cap put in place by the Group is not in the money.

4.9 Cash and cash equivalents

Accounting principles “Cash and cash equivalents” includes cash, sight bank accounts and other very liquid short-term investments with initial maturities of up to three months. Marketable securities are classified as cash equivalents if they meet the criteria of maturity, liquidity and lack of volatility. They are measured at fair value through profit and loss.

Cash and cash equivalents break down as follows:

31/12/2017

31/12/2016

(in thousands of euros)

Marketable securities

48

57

Cash

13,304

24,938

TOTAL CASH AND CASH EQUIVALENTS

13,352

24,994

4.10 Equity

Accounting principles Treasury shares M.R.M. treasury shares are deducted from consolidated equity at their cost of acquisition. All transactions involving treasury shares are recognised directly in consolidated equity. Expenses related to the share capital increase According to IAS 32, expenses related to the issuance of equity instruments are recorded directly under equity. These are expenses directly attributable to the transaction, i.e. expenses that would not have been incurred had the transaction not taken place.

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M.R.M. 2017 REGISTRATION DOCUMENT