In the material disclosure dated October 12, 2022, our Company had announced that our 69.83% stake in Çelik Halat ve Tel Sanayii A.Ş.'s ("Çelik Halat") paid-in capital of TRY41,500,000 was decided to be sold ("Transaction") to Artaş İnşaat Sanayi ve Ticaret A.Ş. (% 75 of the sold shares) and Betatrans Lojistik İnşaat Sanayi ve Ticaret A.Ş.'ye (%25 of the sold shares) ("Buyers"), with whom our Company does not have management, audit or capital relations from the perspective of Capital Markets Legislation, for a total of EUR27,000,000 ("Sale Value") as a result of the negotiations. Accordingly, we had further announced that a ‘Sale Transfer Agreement' had been signed between the parties and a pre-payment of TRY36,066,100 had been transferred to our Company's accounts.
Our Company's Board of Directors have decided to revise the Sale Value to EUR26,100,000 on November 29, 2022 (today) as per the evaluations and negotiations.
As per the decision of our Company's Board of Directors dated November 29, 2022 (today), the sale and transfer of 28,980,815.63 shares of Çelik Halat, representing 69.83% of equity and voting rights of the company, has been completed as of today following the transfer of TRY468,137,680 to our Company's accounts in addition to TRY36,066,100, which was transferred previously on October 12, 2022.