Tiscali 2014 Annual Report Download - page 122

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Annual financial report as at 31 December 2014
Date
File Name
Status
Page
-
Annual Report as at 31
December 2014
122
STATEMENT OF FINANCIAL POSITION VALUES
Notes
31 December
2014
31 December
2013
(EUR 000)
Studio Racugno
1
(8)
(36)
Nuova Iniziativa Editoriale S.p.A. (*)
2
(114)
Monteverdi S.r.l.
3
TOTAL SUPPLIERS OF MATERIALS AND SERVICES
(8)
(150)
TOTAL
(8)
(150)
(1) Studio Legale Racugno: the director Gabriele Racugno, member of Tiscali S.p.A.’s Board of Directors,
since 21 December 2009, provides Tiscali Italia S.p.A. with legal and out-of-court assistance.
(2) Nuova Iniziativa Editoriale S.p.A.: investee company of the majority shareholder, Renato Soru; the
dealings during 2013 refer to an advertising concession and the provision of telecommunications
services. It should be mentioned that the investment held by Renato Soru was in the name of Gabriele
Racugno by virtue of a deed of trust. The latter was appointed member of the Board of Directors of
Tiscali S.p.A. from 21 December 2009 to January 2010.
(3) Monteverdi S.r.l: a company invested in by the majority shareholder Renato Soru. The transaction in
question refers to a rental agreement for space used to store company documents.
(*) During 2014 Nuove Iniziative Imprenditoriali S.p.A no longer satisfied the definition of related party as per
IAS 24.
Remuneration of the directors, statutory auditors and executives with strategic responsibility
The remuneration due to the directors and statutory auditors of Tiscali S.p.A. and Tiscali Italia S.p.A. in
2014 in relation to the performance of their functions, in the parent company and other consolidated
subsidiaries, is presented below:
(EUR 000)
2014
2013
Directors
765
721
Statutory Auditors
207
206
Total remuneration
972
927
The total value of the cost incurred in 2014 for the remuneration due to executives with strategic
responsibility amounted to roughly EUR 1.4 million. This liability also includes the Group’s
contributions to public and corporate welfare funds for EUR 0.4 million.