The following resolution, in addition to resolutions on other matters, has been made with the Board of Directors Resolution of 17.12.2021 with regards to Sesa Ambalaj ve Plastik Sanayi Ticaret A.Ş., the direct subsidiary of Öncü Girişim Sermayesi Yatırım Ortaklığı A.Ş., our direct subsidiary the full capital of which is owned by us:
(i) Out of the fully registered 3,000 (three thousand) shares each with a nominal value of 1,000 Turkish Liras, representing its fully paid capital of 3,000,000 (three million) Turkish Liras of Maksipak Ambalaj Sanayi ve Ticaret A.Ş., operating in packaging manufacturing, with regards to the 2,100 (two thousand one hundred) registered shares each with a nominal value of 1,000 Turkish Liras, representing 70% of the paid capital, with a total nominal value of 2,100,000 TL (two million one hundred thousand) Turkish Liras, to be bought and taken over from Mehmet Kulüp in cash and in a single payment (as described below) following the negotiations made, and to initiate the transaction to buy and take over (“Transaction”)
(a) 60% on the completion date of the Transaction, and (b) the remaining 40%, subject to a price adjustment, subject to certain conditions, and following the audit of the closing accounts, that is, for a total price of 8,408,000 (eight million four hundred and eight thousand) Euros,
(ii) to complete the Transaction in case it is understood that all the closing requirements stipulated in the Agreements, including but not limited with the notification to be made to the Competition Board.
The Transaction is planned to be financed via bank loans.
Maksipak Ambalaj Sanayi ve Ticaret A.Ş. (www.maksipak.com.tr) is one of the leading packaging manufacturers providing ready-made bags for the petfood and nuts markets, offering individualized solutions based on experience, technology and customer relations in a constantly developing market.