[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_MaterialEventDisclosureGeneralAbstract|
Material Event Disclosure General
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Update Notification Flag
Evet (Yes)
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Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
17.12.2014, 11.07.2018, 27.01.2021
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Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
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Explanations
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In our public disclosure dated 27.01.2021 we disclosed;

"The Joint Venture including Global Investment Holdings attended a tender regarding Başkent Doğalgaz privatization in 2008. We filed a lawsuit before 4th Chamber of Ankara Commercial Court in 2019 in order to prevent the liquidation of the letter of guarantee. Upon the actual liquidation of the letter of guarantee in 2013 the lawsuit is converted to restitution of the paid amount which was USD 50.000.000. The 4th Chamber of Ankara Commercial Court dismissed the lawsuit on the grounds that the administrative courts should have seen this lawsuit not the civil courts. We appealed the court decision before the Court of Cassation."

As the appellate court the 11th Chamber of Court of Cassation held a hearing on 14.02.2023 and as a result of this hearing our lawyers in charge informed us that the decision of the 4th Chamber of Ankara Commercial Court is overturned in favor of Global Invesment Holdings. The reasoned decision is uploaded to UYAP but not officially served yet.

Upon this decision of overturn the file will return to the 4th Chamber of Ankara Commercial Court and 4th Chamber of Ankara Commercial Court will try the case in line with the reasonings of the overturn.

As a reminder; upon a previous decision of overturn of the Court of Cassation back in 2014, the 4th Chamber of Ankara Commercial Court conducted two separate consecutive expert reviews and both expert review reports were in favor of Global Invesment Holdings.

We will continue to disclose any material progress regarding this lawsuit.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. Respectfully announced to the public