Financial Fixed Asset Sale (Milta Turizm)
26.07.2017
It has been resolved during the Board of Directors meeting of 25/07/2017 to 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. In case there are material developments about the matter, the necessary disclosure shall be made to the public as per the relevant legislation.
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