Tiscali, capital increase and convertible bonds up to 120 million

Tiscali renews the Board of Directors Soru president and Rota

(Finance) – The Board of Directors of Tiscali resolved to submit for the approval of the Shareholders’ Meeting a capital increase of up to 60 million euro and to issue convertible bonds for the same amount in order to be able to seize “the most favorable conditions to support, in an ever more efficient way, the implementation of the industrial plan, as well as for the execution of any extraordinary and/or capital strengthening operations in which it is advisable to act with particular promptness”.

The BoD has conferred on theChief Executive Officer, Davide Rotathe powers to convene the shareholders’ meeting by January 2023.

The Board of Directors – reads a note – will request a mandate of up to 30 months to recapitalize up to 60 million, in separable or inseparable form, also with the exclusion of the option right, as well as to issue, in the same period of time, bonds convertible into shares for a maximum amount of 60 million.