[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
-
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
27/04/2017
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 Üretim A.Ş.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Establishing, operating, leasing power generation facilities. Generating electricity and/or selling electricity/capacity to customers
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
Paid in Capital: 257,149,902.52 TL Shareholder's Equity: 104,442,195.76 TL
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
27.04.2017
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
254,509,921.52 TL (254,509,921.52 lots)
oda_PurchasePricePerShare|
Purchase Price Per Share
0.406 TL
oda_TotalPurchasingValue|
Total Purchasing Value
103,369,959.64 TL
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
98.9734
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
100
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
100
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
8.95
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
Not applicable as per CMB II-17.1 Corporate Governance Communique Article 9/2c.
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 100% 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
The Company,whose shares are acquired, does not have any operation run by itself
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 Company's public disclosure dated 19 December 2016, with an aim to improve effective management of subsidiaries, it has been resolved to take over TEÜAŞ shares which are owned by our 100% subsidiary Turcas Enerji Holding A.Ş. ( 98.97% direct shareholder of TEÜAŞ) and real persons.

Accordingly, on 27.04.2017, 254,509,921.52 TEÜAŞ shares (each share having 1 TL nominal value) were acquired by Turcas Petrol A.Ş. for a consideration of 103,369,959.64 TL (equity value). As a result of this transaction, Turcas Petrol A.Ş. has become the only direct shareholder of TEÜAŞ with 100% stake. Details of the transaction are disclosed above.

As also disclosed in our Company's public disclosure dated 20 January 2017, going forward, merger process of TEÜAŞ, whereby all of its assets and liabilities shall be transferred to our Company, will be the next step following the acquisition of TEÜAŞ shares. More effective and active hedging mechanism is aimed with the mentioned merger transaction via reclassification of foreign currency denominated long term investment loans within the group under the same balance sheet of our Company, which has foreign currency denominated assets and revenues.

Further details about the merger process will be shared with the public in a timely manner.

Kind regards,