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166 ANNUAL FINANCIAL STATEMENTS Notes to the fi nancial statements A criminal investigation is underway and letters rogatory have been provided to the Marseilles Criminal Investigation Bureau. ANF’s former Chief Operating Offi cer and Real Estate Director have been interviewed under caution and placed under judicial supervision. The same is true for the former supplier who was on remand for a number of months. The Examining Chamber of the Aix en Provence Appeal Court handed down a ruling on March 4, 2009 confi rming the formal examination of ANF’s former Chief Operating Offi cer and hence the existence of serious and corroborating evidence against him with regard to the claimed misuse of corporate assets to the detriment of ANF. Given the close connection between the criminal and labour aspects of this case, the Paris Employment Tribunal agreed to a stay of proceedings at its February 5, 2010 hearing. Similarly, given the close connection between the criminal and labour aspects of the case as well as the formal examination of ANF’s former Real Estate Director, a stay of proceedings was sought and granted by the Employment Tribunal. In addition, prior to the aforementioned stay of proceedings, a ruling was handed down on February 9, 2007 by the Paris Employment Tribunal in which it jointly ordered Eurazeo and ANF to pay ANF’s former Chief Operating Offi cer the sum of €50,000 in respect of the variable bonus he sought. Moreover, like the Employment Tribunal, in a ruling handed down on September 25, 2007, the Paris Commercial Court issued a stay of proceedings in respect of the case brought before the court by ANF’s former Chief Operating Offi cer, pending a decision by the Marseilles District Court. 2) TPH – Toti proceedings: Representing Eurazeo, ANF entered into an agreement with Philippe Toti, a private entrepreneur (TPH), with regard to the renovation of part of its real estate assets in Marseilles. At the same time as fi ling criminal proceedings with the Marseilles examining magistrate, directed in particular against the former supplier for receiving stolen goods and aiding and abetting, ANF established that the latter was not employing the material and human resources required to meet its contractual obligations. ANF • 2009 ANNUAL REPORT � Contents At ANF’s request, a bailiff has confi rmed that work has been abandoned. On June 14, 2006, ANF was granted an emergency injunction against the former supplier by the President of the Marseilles District Court. This injunction sought to have a court expert appointed to assess the state of progress of the work, prepare accounts between the parties and assess the damage suffered by ANF. An order of June 20, 2006 appointed an expert for this purpose. On June 19, 2006, following the confi rmation that work had been abandoned, ANF cancelled the works contracts entered into with the former supplier. Based on the conclusions of the expert report submitted on October 30, 2007, the balance in favour of ANF is €500,004.63. The liquidator of the former supplier and the former supplier also issued a writ against ANF before the Paris Commercial Court on February 16, 2007. The purpose of this writ was to have the allegedly improper nature of the termination of the contracts entered into with ANF recognised. The writ also sought compensation for the former supplier as a private entrepreneur and personally for the damage resulting from this termination. ANF sought a stay of proceedings or an adjourning of the case pending a fi nal decision on the criminal proceedings (Marseilles District Court), on the basis of the civil suit for damages brought by ANF for misuse of corporate assets and receiving stolen goods. In a decision handed down on November 26, 2009, the President of the Paris Commercial Court granted the stay of proceedings pending a decision in the criminal case. Accordingly, the Paris Commercial Court shall not be called upon to examine the admissibility and grounds for the claim lodged by Mr TOTI and the liquidator of TPH until after the fi nal criminal decision has been handed down on the events surrounding ANF’s suit. No provision has been recorded in the Company’s fi nancial statements for these disputes. To the best of the Company’s knowledge, there are no other government, court or arbitration proceedings pending or threatened that might have or over the past six months have had a material effect on the Company’s fi nancial position or profi tability. OTHER GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS
Note 10 Debt maturity schedule (€ thousands) Debt maturity schedule Amount as of 12/31/2009 < one year ANNUAL FINANCIAL STATEMENTS Notes to the fi nancial statements One to fi ve years > fi ve years Debt Bank borrowings 444,922 976 426,009 17,937 Other debt and liabilities 3,585 3,585 - - Advance tenant payments Operating liabilities 181 181 - - Payables to fi xed-asset suppliers 9,759 9,364 395 - Trade payables 2,698 2,698 - - Tax and corporate liabilities 14,971 14,971 - - Other payables 578 578 - - TOTAL 476,695 32,353 426,404 17,937 Tax and corporate liabilities include the exit tax liability of €12.2 million following the Company’s opting for SIIC status. Note 11 Accrued expenses (€ thousands) Amount as of 12/31/2009 Bank borrowings 261 Advance payments received on open orders 181 Trade payables 2,564 Tax and corporate liabilities 1,649 Payables to fi xed-asset suppliers 8,333 Other liabilities 577 TOTAL 13,565 Note 12 Accrual accounts – liabilities Prepaid income includes €485,000 in advance rental income and €558,000 in front-end fees recognised in income over the minimum lease term. � Contents ANF • 2009 ANNUAL REPORT 167 OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS
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egistration document 2009
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2009 Annual Report � The Registra
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DESCRIPTION OF THE BUSINESS 1. PROF
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of listed real estate companies hav
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Furthermore, as part of its asset r
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DESCRIPTION OF THE BUSINESS Propert
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7. Lyons at the heart of the old ci
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ANF’s goal is to maintain the hig
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ANF had the following real estate a
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To return the buildings to their fo
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9.3 Committed and secured developme
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DESCRIPTION OF THE BUSINESS (€ th
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A new ANF tenant in the cities of L
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13. Key Figures SIMPLIFIED INCOME S
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1. INCOME FROM OPERATIONS 28 1.1 Fa
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The ILC index applies to leases sig
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sales of €29.7 million and partia
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• property held for sale worth
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Income statement Net income in 2009
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1.4 Financial structure Consolidate
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1.5 Events occurring after the bala
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Name and age Bruno Keller Age: 55 C
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Members of the Supervisory Board 1.
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Name and age Delphine Abellard (1)
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Name and age Sébastien Bazin* Age:
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Name and age Jean-Luc Bret Age: 63
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Name and age Alain Lemaire* Age: 60
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Name and age Henri Saint Olive Age:
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INFORMATION ABOUT ANF 2.2 Declarati
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Members of the Executive Board and
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Ghislaine Seguin, Member of the Exe
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Members of the Executive Board and
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INFORMATION ABOUT ANF Corporate gov
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TABLE 5: STOCK OPTIONS EXERCISED BY
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Stock options are granted during th
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down into €21,783,916.96 charged
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Accordingly, the new purchase price
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3 Risk management, risk factors and
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Risks related to information system
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Since June 1, 2006, lessors are req
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3.5 Risks related to B&B Hotels Gro
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2007 INFORMATION ABOUT ANF Voting r
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Pursuant to the regulations in effe
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5. Sustainable development 5.1 Huma
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INFORMATION ABOUT ANF Reports and i
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otherwise exercisable, immediately
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The maximum purchase price per shar
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4. resolves that this delegation of
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e retroactive, from which the new s
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up to the limits set out by applica
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The extraordinary resolutions propo
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website (www.medef.fr) (“Code de
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The Statutory Auditors were duly in
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• liabilities or similar instrume
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analysis of turnover by supplier, e
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Within ANF, a profi t-sharing agree
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Page 117 and 118: INFORMATION ABOUT ANF Reports and i
Page 119 and 120: INFORMATION ABOUT ANF Reports and i
Page 121 and 122: CONSOLIDATED FINANCIAL STATEMENTS I
Page 123 and 124: CONSOLIDATED BALANCE SHEET - TOTAL
Page 125 and 126: STATEMENT OF CHANGES IN SHAREHOLDER
Page 127 and 128: Detailled contents HIGHLIGHTS OF TH
Page 129 and 130: using the fair value convention. In
Page 131 and 132: As of December 31, 2009, fi ve buil
Page 133 and 134: A review of the rental base for fi
Page 135 and 136: d) Stock option plan granted in 200
Page 137 and 138: Earnings per share (IAS 33) Basic e
Page 139 and 140: CONSOLIDATED FINANCIAL STATEMENTS N
Page 141 and 142: Note 2 Receivables maturity schedul
Page 143 and 144: ANF’s former Chief Operating Offi
Page 145 and 146: Note 10 Covenants With respect to l
Page 147 and 148: Note 14 Associates CONSOLIDATED FIN
Page 149 and 150: Note 16 Earnings per share CONSOLID
Page 151 and 152: Note 20 Interest rate risk exposure
Page 153 and 154: III - Specifi c checks and disclosu
Page 155 and 156: ANNUAL FINANCIAL STATEMENTS Pursuan
Page 157 and 158: Balance sheet at December 31, 2009
Page 159 and 160: Notes to the financial statements D
Page 161 and 162: espect of which depreciation period
Page 163 and 164: The real estate assets break down b
Page 165 and 166: Non-current fi nancial assets (€
Page 167: Note 8 Change in shareholder’s eq
Page 171 and 172: Note 14 Covenants With respect to l
Page 173 and 174: Note 16 Headcount As of December 31
Page 175 and 176: Stock option plan granted in 2007 D
Page 177 and 178: Stock option plan granted in 2009 D
Page 179 and 180: Note 22 Extraordinary items ANNUAL
Page 181 and 182: III - Specifi c checks and disclosu
Page 183 and 184: PRO FORMA FINANCIAL INFORMATION �
Page 185 and 186: OTHER GENERAL INFORMATION 1. PERSON
Page 187 and 188: Statutory Auditors’ fees TABLE OF
Page 189 and 190: If the ownership threshold is not m
Page 191 and 192: OTHER GENERAL INFORMATION Other inf
Page 193 and 194: 3.2 Share capital Number of shares
Page 195 and 196: violation of these Articles of Asso
Page 197 and 198: to a specifi c situation, or conver
Page 199 and 200: or vote on the project in question
Page 201 and 202: OTHER GENERAL INFORMATION Other inf
Page 203 and 204: 5.6 History Important events in the
Page 205 and 206: In accordance with RICS rules, we w
Page 207 and 208: • Three assets are under fi nance
Page 209 and 210: OTHER GENERAL INFORMATION Contacts
Page 211 and 212: OTHER GENERAL INFORMATION Contacts
Page 213 and 214: OTHER GENERAL INFORMATION Concordan
Page 215 and 216: OTHER GENERAL INFORMATION Concordan
Page 217 and 218: OTHER GENERAL INFORMATION � Conte
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Head office : 32, rue de Monceau -
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