[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_NoncurrentAssetSaleAbstract|
Non-Current Asset Sale
oda_UpdateAnnouncementFlag|
Update Notification Flag
Evet (Yes)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
18/12/2023
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_NatureOfNonCurrentAssetSold|
Nature of Non Current Asset Sold
Sale of land and buildings on it
oda_LocationAndAreaOfNoncurrentAssetSold|
Location and Area of Non-current Asset Sold
Bursa İli, Gemlik İlçesi, Hisar Mahallesi, 953 Ada, 52 nolu Parsel
oda_BoardDecisionDateForSale|
Board Decision Date for Sale
22/02/2024
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TotalSalesValue|http://www.xbrl.org/2003/role/verboseLabel
Total Sales Value
USD 66,000,000 (approximately TL 2,043,703,200)
oda_RatioOfTransactionAmountToValueOfCompanyBasedOnTheMathematicalWeightedAverageOnADailyBasisSixMonthsPriorToDateOfBoardDecision|
Ratio of Transaction Amount to Value of Company Based on the Mathematical Weighted Average on a Daily Basis, Six Months Prior to Date of Board Decision (%)
2,03%
oda_RatioOfSalesPriceToPaidInCapitalOfCompany|
Ratio of Sales Price to Paid-in Capital of Company (%)
1441,77%
oda_RatioOfSalesValueToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Assets in Latest Disclosed Financial Statements of Company (%)
4,03%
oda_RatioOfSalesValueToTotalNetNoncurrentAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Net Non-current Assets in Latest Disclosed Financial Statements of Company (%)
9,59%
oda_RatioOfValueOfNoncurrentAssetToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Value of Non-current Asset to Total Assets in Latest Disclosed Financial Statements of Company (%)
3,71%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
9,20%
oda_SalesConditions|
Sales Conditions
Vadeli (Timed)
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
22/02/2024
oda_AimOfSaleAndEffectsOnCompanyOperations|
Aim of Sale and Effects on Company Operations
The decision has been made to sell the relevant land and buildings in order to position the production facilities in line with the company's strategic objectives and optimize the production of large-diameter pipes. It is expected that this sale will contribute to the efficient utilization of sources and will have a positive impact on company's performance.
oda_ProfitLossArisedAfterSaleOfNoncurrentAsset|
Profit / Loss Arised After Sale of Non-Current Asset
The profit impact of approximately TL 65,000,000 is expected in our company's consolidated financial statements.
oda_HowWillSalesProfitBeUsedIfExists|
How will Sales Profit be Used if Exists?
-
oda_BoardDecisionDateForUseOfSalesProfitIfExists|
Board Decision Date for Use of Sales Profit if Exists
-
oda_CounterParty|
Counter Party
Borçelik Çelik Sanayii Ticaret A.Ş
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Evet (Yes)
oda_NatureofRelationWithCounterParty|
Nature of Relation with Counter Party
The company is a subsidiary of our main shareholder, Borusan Holding
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
-
oda_ExercisePriceOfRetirementRightRelatingToSignificantTransaction|
Exercise Price of Retirement Right Relating to Significant Transaction
-
oda_ValueDeterminationMethodOfNoncurrentAsset|
Value Determination Method of Non-Current Asset
It was determined by negotiation between the parties.
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlendi (Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
-
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
19.02.2024/ 24_400_53
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
Harmoni Gayrimenkul Değerleme ve Danışmanlık A.Ş.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
USD 63,133,617 (approximately TL 1,938,000,000)
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
-
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

In our company's material disclosure dated December 18, 2023, it was announced that studies had commenced only for the sale of land and buildings associated with the production of large-diameter pipes used in the infrastructure and project business segment at our Gemlik Facilities, where we currently operate with 3 factories.

As part of the aforementioned proceedings, the sale of the land and buildings associated with the large-diameter pipe production facility located in Gemlik District of Bursa Province to Borçelik Çelik Sanayii Ticaret A.Ş., a company within the Borusan Group, for a total of USD 66,000,000 (approximately TL 2,043,703,200), has been completed on February 22, 2024. A payment, totaling USD 32,500,000 (approximately TL 1,006,369,000), was received on the day the transaction completed, while the remaining portion of USD 33,500,000 (approximately TL 1,037,334,200) is scheduled to be collected by December 15, 2024, which is the projected date for the vacant delivery of the real estate. The relevant amount has been secured through a letter of guarantee.

We continue to evaluate the options regarding the sale or relocation of machinery and equipment associated with the production of large-diameter pipes located on the land sold at the Gemlik Facility.  Concrete developments will be shared additionally as they arise.

The machinery, equipment, land, and buildings used in the production of pipes, which have been manufactured in Turkey for many years and are currently located at our Gemlik Facilities, and offered to customers in the industrial, construction, and automotive segments, are not included in the scope of the relevant sales transaction. Our company will continue its production activities at Gemlik, Halkalı and Bursa facilities in Turkey.

The Turkish translation of this disclosure is also available and in case of any discrepancy, the Turkish version shall prevail.