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English
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oda_MaterialEventDisclosureGeneralAbstract|
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Hayır (No)
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Hayır (No)
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-
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Hayır (No)
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-Unofficial Translation- Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. ("GEN") submitted Bank Guarantee Letter amounting to USD 18.000.000,00 (EighteenMillionUSDollars). This guarantee letter submitted as collateral for a loan utilized by Gen Pharma Caucasus Manufacturing Operations MMC ("Gen Kafkasya") which GEN's affiliated company with 66.00% shareholding ratio, for the financing of the production facility currently under construction in Azerbaijan. In order to get subjected Letter of Guarantee, a lien with an amount to TL 1.934.000.000 (OneBillion NineHundredThirtyFourMillionTurkishLiras) was established by the bank on The GEN's Production Facility in Ankara. Following the completion of the production facility constructed by Gen Kafkasya, the Letter of Guarantee shall be returned and a lien will be placed on GEN Kafkasya's Production Facility for the term of the credit. This mortgage equals to approximately 13,61% of our Company's total assets as disclosed in our latest financial statements.
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