Tiscali 1999 Annual Report Download - page 5

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%$$
(amounts in million EURO)
31/12/99 31/12/98 Change
Current Assets 141,86 5,04 136,82
Non-current
Assets 40,49 2,39 38,10
Total Assets 182,35 7,43 174,92
31/12/99 31/12/98 Change
Current
Liabilities 44,21 4,19 40,02
Medium/Long-
term liabilities 0,21 0,03 0,18
Shareholders'
Equity 137,93 3,21 134,72
Total 182,35 7,43 174,92
The financial position as of 31 December 1999 strengthened thanks to the quotation of Company shares
on the "Nuovo Mercato", which allowed the shareholders' equity to increase by approximately EURO
138,82 million, of which EURO 0,16 million as share capital, and 138,66 million as share premium.
Moreover, the extraordinary shareholders’ meeting of 25 October 1999 approved the issue of 120,773
warrants, together with an increase in share capital to cover the same. Total validity of the warrants is 360
days from delivery; they may be exercised and converted into ordinary Tiscali shares after 180 days from
delivery. Exercise price is 41.4 EUR, that is 90% of the placement price of Tiscali shares at the time of the
public offer of October 1999.