[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
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
21/12/2021
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
No
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Stimusil Inc.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Medical Device Development
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
USD 100
oda_AcquirementWay|
Acquirement Way
Sermaye Artırımı Yoluyla Edinim (Capital Increase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
31.12.2021
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
138.149
oda_PurchasePricePerShare|
Purchase Price Per Share
USD 5,41
oda_TotalPurchasingValue|
Total Purchasing Value
USD 747.496,07
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
10,75
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
10,75
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
10,75
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
0,61
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
0,45
oda_EffectsOnCompanyOperations|
Effects on Company Operations
The device being developed by Stimusil is expected to have a positive impact in our Company's sales, marketing and distribution rights in certain regions.
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
-
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
21/12/2021
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Negotiation
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Not Obligatory
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|

As a result of the search for new products, new production-sales-distribution relations/regions and new partnerships in line with their growth and innovation strategies our company Gen İlaç ve Sağlık Ürünleri San. ve Tic. A.Ş. ("GEN") signed a Share Purchase and Shareholders' Agreement in 21.12.2021 with Stimusil Inc. founded in United States of America ("STIMUSIL"), which develops innovative medical device. In accordance with the agreement, GEN will purchase 138.149 shares and become shareholder of 10.75% by joining capital increase. In relation with this agreement GEN will gain right of commercialization of innovative medical device which developing by STIMUSIL.

The medical device developed by STIMUSIL, which the details are stated below; a separate agreement has been signed between GEN and STIMUSIL on 21.12.2021 in order to leave the sales, distribution and marketing rights exclusively to GEN, primarily in Turkey, Russia and other Commonwealth of Independent States member countries, and countries in the Middle East and North Africa regions.

About the Device Developed by STIMUSIL:

Subjected medical device, which is being developed by STIMUSIL, and GEN has the commercialization rights; It aims to deliver a laser of a certain wavelength under the skin through a micro-needle system and thus to treat many dermatological diseases such as androgenetic (male type) hair loss, cellulite, psoriasis and vitiligo. Comprehensive preclinical and clinical studies of the medical device is continuing.

It is anticipated that the medical device will be approved by the United States Food and Drug Administration (US FDA) in 2024 and global sales will start immediately after the approval.