Tiscali Reports Q3

Tiscali Group revenues for last nine months were at EUR 221.6 million, in line with business plan target

November 13, 2009

1 Min Read

CAGLIARI, Italy -- The Tiscali Board of Directors has approved the Interim Report as of 30th September 2009.The quarterly results coincide with the closing of the process of redefinition of the Group’sindebtedness implemented since the early months of the year and aimed at achieving a capitalstructure more consistent with the outlook of the Group in Italy.

In particular, the capital increase for ca EUR 180 million, launched on 12 October 2009, hasbeen completed with large subscriptions by the market, allowing the Company to reduce theindebtedness of the Group by further EUR 220 million, also including the debt write-off for aboutEUR 43 million.

Equita SIM has acted as advisor and placement agent of the Rights Issue.

Also taking into account the proceeds from the sale of the UK subsidiary cashed in at closing forEUR 220 million, and utilised for debt reimbursement, Tiscali Group will reduce the total debt(financial and non-financial, including commissions and accessory costs) for approximately EUR440 million.

Tiscali SpA

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