Tiscali Spa (BIT:TIS) announced that it has entered into an agreement with ICT Holding Ltd., Sova Disciplined Equity Fund Spc, a fund managed by Otkritie Asset Management Ltd. for convertible bond loan for gross proceeds of €10.6 million on January 10, 2019. The bonds will be convertible into common shares after two months from the issuance at a conversion price equal to 85% of the weighted average by volume of the prices of the shares recorded at the close of trading of the last 10 working days preceding the date of conversion request. The bonds will have a one year duration and will carry zero coupon rate.