[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
oda_UpdateAnnouncementFlag|
Update Notification Flag
Hayır (No)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
-
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Evet (Yes)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
15/04/2022
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Microtex Composites S.r.l.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Carbon fiber fabrics and prepregs producer
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
200.000 Euro
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
The acquisition of shares is expected to be finalized in the second quarter of 2022, subject to the fullfilment of closing conditions required for Italian Golden Power approval.
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
120.000 Euro
oda_PurchasePricePerShare|
Purchase Price Per Share
205,00 Euro
oda_TotalPurchasingValue|
Total Purchasing Value
24.600.000 Euro
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
60%
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
60%
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
After the transfer of shares, Kordsa Inc has 60% direct voting right in Microtex Composites S.rl. Our Company has 60% voting right in the company indirectly
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
%2,34 (31.12.2021)
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
%2,77 (31.12.2021)
oda_EffectsOnCompanyOperations|
Effects on Company Operations
With this investment in composite technologies, Kordsa aims to increase its product diversity; grow the number of its client sectors; and also, to expand its service range in the automotive and motorsport sectors.
oda_DidTakeoverBidObligationArised|
Did Takeover Bid Obligation Arised?
Hayır (No)
oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
Will Exemption Application be Made, if Takeover Bid Obligation Arised?
Hayır (No)
oda_TitleNameSurnameOfCounterParty|
Title/ Name-Surname of Counter Party
Massimiliano Becagli s.a.s., Massimiliano Becagli, Federico Becagli, Silvio Campigli ve Gainfranco Meschini
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
-
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
20/04/2022
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Based on Negotiations
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
No regulatory requirement since it is not a related party transaction.
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
-
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
-
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
-
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
-
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

In line with the Company's target of transformation into an advanced material company, after the organic growth investments in Turkey and inorganic growth investments in the USA, a Share Purchase Agreement dated 20.04.2022 was signed with regard to the acquisition of Microtex Composites S.r.l. ("Microtex" shares representing 60% of total share capital by our subsidiary Kordsa Inc  for a consideration of Euro 24.600.000. (*)

The acquisition of shares is expected to be finalized in the second quarter of 2022, subject to the fullfilment of closing conditions required for Italian Golden Power approval.

With this investment in composite technologies, Kordsa aims to increase its product diversity; grow the number of its client sectors; and also, to expand its service range in the automotive and motorsport sectors.

Subject to the fullfilment of the conditions set forth in the agreement, the remaining 40% shares of Microtex will be able to purchased by our subsidiary Kordsa Inc within 5 years after the closing date and Kordsa Inc will be able to increase its shares up to 100%.


(*) The Material Event Disclosure regarding the acquisition process has been decided to delay to prevent our share performance and protect our investors against the possible fluctuations and speculative movements in our shares if the purchasing transaction would fail in the end of process.