[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[TRCAS]
Related Funds
[]
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
19 December 2016
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
16/12/2016
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Turcas Elektrik Toptan Satış A.Ş.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Electricity Trading. However, operations were terminated as per Board Decision dated 06 May 2015 due to utilization of resources in more efficient investments
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
Paidin capital 4.300.000 TL Equity 2.449.845 TL
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
29 December 2016
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
2.867.240 TL (2.867.240 lots)
oda_PurchasePricePerShare|
Purchase Price Per Share
0,57 TL
oda_TotalPurchasingValue|
Total Purchasing Value
1.633.556,74 TL
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
66,68
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
100,00
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
100,00
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
0,15
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
not applicable as per Capital Markets Boards Corporate Governance Communique Article 9 paragraph 2c
oda_EffectsOnCompanyOperations|
Effects on Company Operations
None
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
Turcas Enerji Holding A.Ş., Erdal Aksoy, Saffet Batu Aksoy, Banu Aksoy Tarakçıoğlu, Ayşe Belkıs Aksoy
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Evet (Yes)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
Turcas Enerji Holding A.Ş. is Turcas Petrol A.Ş.s 99.99% subsidiary
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
-
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Equity Value
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Not required
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 disclosed in our Companys public disclosure dated 19 December 2016, with an aim to improve effective management of subsidiaries, it has been resolved to take over our Companys 99.99% subsidiary (via 33.32% direct shares and 66.67% indirect shares) Turcas Elektrik Toptan Satış A.Ş. (TETSAŞ)s  2.867.240 shares (corresponding to 66.68% shares of TETSAŞ) owned by Turcas Enerji Holding A.Ş. ( 66.67% direct shareholder of TETSAŞ) and real persons (each share having 1 TL nominal value) for a consideration of 1,633,556.74 TL (equity value), subject to the approval of regulatory bodies. Following the approval of Energy Market Regulation Authority, the mentioned transaction has been finalized as of 29 December 2016.  As a result of this transaction, Turcas Petrol A.Ş. has become the only direct shareholder of TETSAŞ with 100% stake. Details of the transaction are disclosed above.

Kind regards,