Capital/Financing Update • Nov 14, 2017
Capital/Financing Update
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| Informazione Regolamentata n. 0260-62-2017 |
Data/Ora Ricezione 14 Novembre 2017 09:36:21 |
MTA | ||
|---|---|---|---|---|
| Societa' | : | TISCALI | ||
| Identificativo Informazione Regolamentata |
: | 95951 | ||
| Nome utilizzatore | : | TISCALIN07 - Robustelli | ||
| Tipologia | : | 2.6 | ||
| Data/Ora Ricezione | : | 14 Novembre 2017 09:36:21 | ||
| Data/Ora Inizio Diffusione presunta |
: | 14 Novembre 2017 09:36:21 | ||
| Oggetto | : | Tiscali Continues its Fiscal Consolidation | ||
| Testo del comunicato |
Vedi allegato.
o the path of debt conversion into equity o the capitalization of interest charges on the convertible bond loan matured until the dates of the proposed modification
Cagliari, November 13, 2017
The Company communicates that the Board of Directors, which held a meeting today, has approved the proposed amendment of the convertible and mandatory convertible bond loan "Tiscali conv 2016-2020", approved by the Shareholders' Meeting of the Company on September 5, 2016. The amendment to the "Tiscali conv 2016-2020" loan, subject to the approval of the next Shareholders and Bondholders' Meetings, involves the reopening of the term of subscription of outstanding bonds not yet subscribed for an amount of €1.5 million and the change in the price conversion of bonds into ordinary shares as well.
With the completion of this transaction, Tiscali will also be able to capitalize interest charges on the convertible bond loan matured until the date of execution of the proposed amendment.
The Board of Directors of Tiscali therefore summoned the Bondholders' Meeting, in a single call for December 14, 2017 at 11 a.m. at the registered office of the Company, to approve the proposed amendment of the loan "Tiscali conv 2016-2020".
In addition, the Board of Directors summoned for the same day, at 11.30 a.m., the Extraordinary Shareholders' Meeting, in a single convocation, to discuss and deliberate on the proposed amendment of the "Tiscali convention 2016-2020" loan and, namely, on the following agenda:
Proposal to amend the unsecured convertible and mandatory convertible bond loan "Tiscali conv 2016-2020", approved by the Shareholders' Meeting of the Company on September 5, 2016. Consequent proposal to increase the number of ordinary shares to be issued for the conversion of the bond loan from No. 308,333,333 to a maximum of No. 530,000,000 ordinary shares, excluding the right of option as per Art. No. 2441, Paragraph 5, of the Civil Code, with a price per share equal to the weighted average of the market price recorded over the last two months prior to the date of the conversion request. Consequent amendments to Art. No. 5 of the Articles of Association. Inherent and consequent resolutions.
The notice of summoning the Shareholders' Meetings, as well as all documents drawn up according to law, will be made available to the public at the Company's registered office, at Borsa Italiana S.p.A. and on the Company's website (www.tiscali.com) within the terms provided for by the applicable law.
Tiscali S.p.A. (Borsa Italiana. Milan: TIS) is one of the leading alternative telecommunications companies in Italy and provides its private and business customers with a wide range of services: internet access through dial-up, ADSL and FIBER, as well as voice, VoIP, media, and added-value services and other technologically advanced products. As at June 30, 2017, Tiscali reported recorded a customer portfolio of about 717.000 units. The Tiscali website may be accessed at www.tiscali.it
Press Office Giacomo Robustelli m. +39 340 510 22 53 [email protected]
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