Share Transfer of Subsidiary (Dogan TV Holding)
21.06.2018
As we have previously disclosed to the public; as per the "Share Sales Agreement" signed between our Company and Demirören Medya Yatırımları Ticaret A.Ş., the "Selling price" amounting to USD 893,000,000 had been received in full, in cash and in our company's control on May 16, 2018 upon the fulfillment of the "closing" conditions determined in the "Share Sales Agreement" and the completion of the sale/transfer transactions in a legally proper manner in line with the "Share Sales Agreement".
Finally, in accordance with the "Share Sales Agreement", 138,999,811 shares representing 6,68% of the capital of Doğan TV Holding A.Ş. (as current situation, the old trade name) were transferred to Demirören Media Investments Inc. on June 21, 2018 (today). USD 5,000,000 of the sale and transfer price of the share certificates, which is determined as USD 26,000,000 according to the "Share Sales Agreement", has been collected in cash on 21 June 2018 (today) and transferred to our Company's account. The remaining balance of USD 21,000,000 will be collected on July 31, 2018 with maturity difference. Upon collection of this amount, the total amount collected within the scope of the mentioned sale transaction will reach USD 919,000,000.
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