Participation in Capital Increase of our Subsidiary – Glokal


Our Board of Directors has resolved on November 07, 2016 (today) to authorize and appoint our Company management to fully exercise our right of acquiring new shares totaling 5,950,000 TL which corresponds to our share of participation, in the capital increase of Glokal Motorlu Araçlar Pazarlama A.Ş. whereby our company has 100% shares in the entirely issued capital of 50,000 TL, to 6,000,000 TL via rights issue (the capital increase has been approved at the extraordinary general assembly meeting of Glokal Motorlu Araçlar Pazarlama A.Ş. which was held on November 07, 2016 (today)); and to notify the relevant entitles for the execution of the necessary procedures. TL 1,487,500, ¼ of our right of acquiring new shares amounted TL 5,950,000, has paid immediately and the remaining part of the payment is foreseen to be paid in 2 years.

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