[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[CRFSA]
Related Funds
[]
English
oda_MaterialEventDisclosureGeneralAbstract|
Material Event Disclosure General
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Update Notification Flag
Evet (Yes)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
04.08.2021
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Postponed Notification Flag
Hayır (No)
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Announcement Content
oda_ExplanationSection|
Explanations
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In the public disclosure statement dated August 4, 2021, by referencing the capital increase process announced on August 3, 2021 by CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. (CarrefourSA), it was announced that Sabancı Holding and Carrefour Nederland BV (CNBV), as major shareholders of CarrefourSA, had agreed to sell a total of CarrefourSA shares representing up to 6% of the share capital in the secondary market by the end of 2021, and to use the proceeds from such sale of shares primarily for the contemplated capital increase of CarrefourSA.

CarrefourSA released a public disclosure statement on December 31, 2021 stating that, upon re-evaluation of the matter, the Board of Directors of CarrefourSA had resolved; to cancel the contemplated capital increase at this stage since, after recalculations based on the Communiqué on Procedures and Principles Regarding the Application of the Article 376 of the Turkish Commercial Code No. 6102 (as amended on 26 December 2020) whereby certain losses are disregarded, it was attested and certified that the adjusted figure of CarrefourSA's equity presented in the statutory financial statements dated September 30, 2021 showed no capital loss or insolvency within the scope of Article 376 of the Turkish Commercial Code; and that therefore, there was no legal obligation for CarrefourSA's Board of Directors to take any action contemplated under said article.

In view of recent market conditions and considering the Board resolution of CarrefourSA, Sabancı Holding and CNBV have mutually agreed to cancel the contemplated joint sale of CarrefourSA shares, announced on August 4, 2021, representing up to 6% of the share capital of CarrefourSA in total on the stock market. Sabancı Holding and CNBV will continue to work together in good faith and consider all sustainable options so that CarrefourSA could maintain its rightful place in the market.

In case of a discrepancy between the Turkish and English versions of this public disclosure statement, Turkish version shall prevail.