Financial Fixed Asset Sale – D&R
30.05.2018
Within the scope of our previous public disclosure, in accordance with the "Share Sales Agreement" signed on May 11, 2018 between our Company and Turkuvaz TK Kitap ve Kırtasiye A.Ş., as a result of the negotiations, the sales and transfer of the 50,000,000 shares we held 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”); have been completed as of today as a result of the fulfillment of the "closing conditions" and the Sales Price has been freely transferred to our accounts fully in cash.
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).
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