Participation in Capital Increase of our Subsidiary – Öncü
24.08.2020
During our Board Meeting dated 24.08.2020 (today);
It has been resolved to fully exercise our right of acquiring new shares and to set our participation amount in the cash capital increase as 90,000,000 Turkish Liras in the capital increase of Öncü Girişim Sermayesi Yatırım Ortaklığı A.Ş. our direct subsidiary, whereby our company has 75% shares in the entirely issued capital of 200,000,000 Turkish Lira to 320,000,000 Turkish Lira pursuant to the BoD resolution dated July 20,2020 and numbered 2020/10 of Öncü Girişim Sermayesi Yatırım Ortaklığı A.Ş.
The fund, be provided from the aforementioned capital increase after getting of the all required permits, will be used by Öncü Girişim to acquire and take over of the shares of Sesa Ambalaj ve Plastik Sanayi Ticaret A.Ş. with the completion of “closing” conditions as disclosed on PDP at July 27, 2020
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