Tiscali 2009 Annual Report Download - page 143
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Tiscali Group: Annual Report 2009
142
In addition to the sureties given to third parties there are also other sureties including the most significant
one in favour of the Janna consortium (EUR 2.3 million) to guarantee commitments undertaken when
stipulating the share capital increase and in favour of Regione Sardegna for the UNISOFIA project.
The item commitments includes EUR 2.9 million for the maintenance of credit facilities granted to the
subsidiary Tiscali Italia S.p.A. and EUR 3.6 million for other guarantees related to leasing contracts stipulated
by the subsidiary.
One-off transactions
Pursuant to Consob Resolution no. 15519 of 27 July 2006, the table below shows details on one-off
transactions.
Risultato delle attività
continuative prima
delle imposte
Patrimonio Netto Indebitamento
finanziario netto
Valore % Valore % Valore %
(EUR mln)
Book value (2.5) (66.9) (224.4)
Effect of charges for debt restructuring 10.7 10.7 7.8
Effect of loan write-off (Facility D2) (42.3) (42.3) (42.3)
Total effects of one-off events and
transactions (31.6) (31.6) (34.5)
Figurative value with one-off
transactions (34.1) (98.5) (*) (258.9) (*)
The charges for debt restructuring, amounting to EUR 10,7 million, refer to costs incurred for Group debt
restructuring (Senior Debt restructuring) with the stipulation of the Group Facility Agreement on 2 July
2009. For further details see note 8 “Restructuring costs and other write-downs”.
Financial income includes the effect of the Facility D2 write-off by the Financial Institutions (Senior Lenders)
of a portion of the debt (Facility D2) amounting to EUR 42.3 million, including interest calculated to 18
November 2009.
(*) It should be mentioned that had the conditions for the Facility D2 write-off not been in place, based on the agreements stipulated with the
financial institutions, in 2010 the company would have launched share capital increase 2 on the market, for a maximum amount of EUR 46.5
million. Subscription to the increase, guaranteed by the financial institutions by contract, would have had the same positive effect on sharehol-
ders’ equity and financial debt for the Group.