Tiscali 2009 Annual Report Download - page 194
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193
BALANCE SHEET VALUES
Notes
31 December 2009
(EUR 000)
Trade
receivables
Financial
receivables
Trade
payables
Financial
payables (within
12 months)
Financial
payables (more
than 12 months)
Stock
Option
reserve
Energy Byte S.r.l 1 - 112 - - - -
Tiscali Espana SLU 1 314 - 5 - - -
Tiscali International BV 1 - - - 45,753 - -
Tiscali International Network SA 1 - - - - 16 -
Tiscali Italia S.p.A. 1 9,113 3,484 3,187 - 3,092 -
Tiscali Media Srl 1 - 465 - - - -
Tiscali Holdings UK Ltd 1 774 - - - - -
Tiscali UK Ltd 1 9,382 - 7,957 - - -
Total Group companies 19,583 4,061 11,149 45,753 3,108 -
Bizzarri Francesco 2 - - 37 - - -
Stock options 3 - - - - - 3,841
Other related parties - - 37 - - 3,841
Total Group companies
and other related parties 19,583 4,061 11,186 45,753 3,108 3,841
Ongoing disputes, contingent liabilities and commitments
During the normal course of its business, the Tiscali Group is involved in a number of legal and arbitration
proceedings, as well as being subject to tax assessments.
A summary of the main proceedings to which the Group is a party, is presented below.
Ongoing Disputes
Vereniging van Effectenbezitters/ Stichting Van der Goen WOL Claims dispute
In July 2001, the Dutch association Vereniging van Effectenbezitters and the Stichting VEB-Actie WOL
foundation, which represent a group of around 10,000 former minority shareholders of World Online
International N.V, filed a suit against World Online International NV hereinafter referred to as WoL, (currently
99.5% owned by Tiscali) and the financial institutions tasked with the stock market listing of the Dutch
subsidiary, disputing, in particular, the incomplete and incorrect nature, as per Dutch law, of certain
information contained in the listing prospectus for WoL and of certain public statements made, immediately
prior to and after the listing, by the company and by its chairman.
(1) Group companies
(2) Mr. F. Bizzarri, member of Tiscali Spa’s Board of Directors, has made an IPTV consultancy contract with the Parent Company and with the
subsidiary completed in June 2008. The entire cost has been transferred over to the subsidiary Tiscali Italia Spa, since the services are in its
field, and thus the related income has been adjusted.
(3) Stock option – CHIEF EXECUTIVE OFFICER and employees. Cost recorded in the item Other provisions in the Parent Company’s financial
statements.
Tiscali S.p.A. Accounting Statements and Explanatory Notes