[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_NoncurrentFinancialAssetSaleAbstract|
Non-Current Financial 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
13.02.2024, 05.03.2024
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Evet (Yes)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForSale|
Board Decision Date for Sale
13/02/2024
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TitleOfNoncurrentFinancialAssetSold|
Title of Non-current Financial Asset Sold
Zorlu Enerji Dağıtım AŞ
oda_FieldOfActivityNoncurrentFinancialAssetSold|
Field of Activity of Non-current Financial Asset Sold
Distribution of gaseous fuels and electricity through the main grid and other
oda_CapitalOfNoncurrentFinancialAssetSold|
Capital of Non-current Financial Asset Sold
TL 895,150,000.00
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
12.03.2024
oda_SalesConditions|
Sales Conditions
Peşin (Cash)
oda_NominalValueOfSharesSold|
Nominal Value of Shares Sold
TL 895,150,000.00
oda_SalesPricePerShare|
Sales Price Per Share
TL 7.1221
oda_TotalSalesValue|
Total Sales Value
The total sale price is USD 200,000,000 amounting to TL 6,375,330,000 (USD/TRY exchange rate of 31.8767). As of 12.03.2024 transfer date, Zorlu Enerji Dağıtım AŞ's financial and commercial liabilities amounting to TL 2,806,342,588 were deducted from the sales price and the balance of TL 3,568,987,412 was paid in cash and upfront by the buyer.
oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
Ratio of Shares Sold to Capital of Non-current Financial Asset (%)
100
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Sales Transaction (%)
0
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)
0
oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)
8.12%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
21.20%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Termination of affiliate relationship
oda_ProfitLossArisedAfterTransaction|
Profit / Loss Arised After Transaction
To be stated under the relevant footnote of Zorlu Enerji's financial report dated March 31, 2024.
oda_HowWillSalesProfitBeUsedIfExists|
How will Sales Profit be Used if Exists?
Within the framework of investment policies and strategies, it will be used to pay down financial debt.
oda_BoardDecisionDateForUseOfSalesProfitIfExists|
Board Decision Date for Use of Sales Profit if Exists
-
oda_TitleNameSurnameOfCounterPartyBought|
Title/ Name-Surname of Counter Party Bought
Gaztrak Enerji AŞ, 100% subsidiary of Palmet Enerji AŞ
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|http://www.xbrl.org/2003/role/verboseLabel
Relation with Counter Party if any
No
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
13/02/2024
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Negotiated procedure
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
It is not obligatory to prepare valuation report.
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|

Pursuant to our material event disclosures dated 13.02.2024 and 05.03.2024; as per the adjustment procedures stipulated under the Share Purchase Agreement, by making adjustment for the financial and commercial liabilities on the closing date and deducting the financial and commercial liabilities amounting to a total of 2,806,342,588 Turkish Liras from the sale price and payment of the remaining amount of 3,568,987,412 Turkish Liras in cash and upfront by the buyer, the sale of all of our shares in our 100% owned subsidiary Zorlu Enerji Dağıtım AŞ for a total consideration of 6,375,330,000 Turkish Liras, equivalent to USD 200,000,000 (converted at the USD/TRY exchange rate of 31.8767), to Gaztrak Enerji AŞ, a 100% subsidiary of Palmet Enerji AŞ, is completed on 12.03.2024.

Considering that the transfer price would be determined at the closing stage subject to the agreement between the parties by making adjustments for the financial and commercial liabilities of Zorlu Enerji Dağıtım AŞ on the closing date and to avoid misleading the investors, the disclosure of the said information to the public has been postponed with the Board of Directors' decision dated 13.02.2024 until the date when the share sale price will be finalized.

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.