Financial Fixed Asset Sale – D&R


During our Board Meeting dated 11.05.2018 and numbered 2018/25; as a result of the negotiations held with Turkuvaz TK Kitap ve Kırtasiye A.Ş., it was decided to sell our 50.000.000 shares in our direct subsidiary Doğan Müzik Kitap Mağazacılık Pazarlama A.Ş, representing 100.00% of the issued capital of the company, each with a nominal value of 1 Turkish Lira, in cash and in a single payment for 440 million Turkish Liras selling price (“Selling Price”); with this purpose, the Share Selling Agreement (“Agreement”) is to be signed; and simultaneously with the Agreement being signed, the 80 million Turkish Lira portion of the Selling Price shall be paid in cash, and the blockage on the remaining balance of 360 million Turkish Lira shall be released once the “Closing” conditions are met; and provided that the required legal permits are obtained from the relevant official authorities, and that all the Preliminary Conditions related with the Closing stipulated in the Agreement are fulfilled, the sale and transfer of the shares within the scope of the Agreement to Turkuvaz TK Kitap ve Kırtasiye A.Ş. shall be approved; and it shall be acknowledged that the share selling and transfer transaction will be legally valid only in this manner.

Total amount of the above detailed “Financial Fixed Assets” sale and transfer value of 440 million Turkish Liras is below the limits of the “Significance Criterion” of the II-23.1 “Communiqué on Common Principles Regarding Significant Transactions and the Exit Right” Decree of the Capital Markets Board (Capital Markets Board Decree II-23.1).

Financial Fixed Asset Sale

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