As per the written agreement reached between Doğan TV Holding A.Ş., our direct subsidiary whereby our company holds an 87.87% share in the capital, and Commerz-Film GmbH (a direct subsidiary of Axel Springer SE), holds an 11.99% share in the capital of Doğan TV Holding A.Ş., it has been decided:
1- to increase the paid-in capital of Doğan TV Holding A.Ş. from 1,360,016,087 Turkish Liras to 1,982,200,0000 Turkish Liras, through the provision of 173,984,499 Turkish Liras from internal resources, and 448,199,414 Turkish Liras in cash, and
2- that our Company commit to the full amount of the 448,199,414 Turkish Liras which will be paid in cash during the course of the capital increase.
In the course of the relevant capital increase, the amount to be increased in cash following the necessary legal permissions being obtained, and following the approval of the General Assembly of Doğan TV Holding A.Ş., is planned to be paid to Doğan TV Holding A.Ş. in cash.
The amount of the 448,199,414 Turkish Liras which will be paid in cash during the course of the capital increase of Doğan TV Holding A.Ş. is contemplated to be used mostly for paying up the bank loans of Doğan TV Holding Holding A.Ş. itself and its subsidiaries, and to meet the working capital requirements.