Tiscali 2013 Annual Report Download - page 182
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Tiscali Spa 4
Report of the Board of Statutory Auditors
p) during the supervisory activities carried out and on the basis of the information
obtained from the independent auditing firm, no omissions and/or reprehensible
action and/or irregularities have been revealed or in any event significant events
which would require reporting to the audit bodies or mentioning in this Report.
The separate financial statements of Tiscali Spa closed with a loss of EUR 777,711 and
accumulated losses of EUR 30,921,879 due to which the shareholders’ equity fell to EUR
61,100,900, therefore the conditions as per Article 2446.1 of the Italian Civil Code apply.
This Board however duly notes that the quarterly report as at 31 March 2014, approved by
the Board of Directors as of today’s date, discloses a profit for the period of EUR 546,806
which reduced the accumulated losses to EUR 30,375,073; the shareholders’ equity
therefore amounts to EUR 61,647,758, compared with share capital of EUR 92,022,830.
Since, therefore, the code regulations indicated above having been met, the Directors
deemed that the conditions for having to adopt the fulfilments envisaged in such
circumstances had ceased to exist.
In as far as it falls within our responsibilities, we express a favourable opinion for the
approval of the financial statements as at 31 December 2013 together with the Report on
operations and the resolution proposals drawn up by the Board of Directors.
Cagliari, Italy, 27 June 2014
THE BOARD OF STATUTORY AUDITORS
PAOLO TAMPONI
PIERO MACCIONI
ANDREA ZINI