Announcement regarding former public disclosures that are not yet resolved
26.03.2018
According to our previous disclosures disclosed via Public Disclosure Platform (PDP);
Studies regarding the sell and transfer 1,300,000 shares (share certificates) which are certificated securities and which represent the capital of our direct subsidiary Milta Turizm İşletmeleri A.Ş., whereby we hold 100% shares in the fully paid up capital of 1,300,000 Turkish Liras, to Tek Art Kalamış ve Fenerbahçe Marmara Turizm Tesisleri Anonim Şirketi, in return for 105.000.000.- (one hundred and five million) US Dollars in cash and in one payment, provided that the entire amount is corrected with the “net debt” amount on the “Closing” date, with the condition that all required permits are obtained from the official regulatory bodies, and the other routine “Preliminary Closing Conditions” set forth in the Contract are fulfilled, hasn’t completed in the period set forth in the “Preliminary Closing Conditions” of the Contract.
Permit processes by the official regulatory bodies and negotiations between the parties regarding the conditions of the contract has still in progress.
The necessary disclosure shall be made to the public in case there will be material developments about the matter, as per the relevant legislation.
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