[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
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
16.08.2023
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Evet (Yes)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
08/12/2023
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Al-Sadaf Porcelain and Ceramic Brow Production Limited Company
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Production, import and export of ceramic coating materials, and sales activities in Iraq
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
1,000,000,000 (IQD)
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
25.12.2023
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
490.000.000 (IQD)
oda_PurchasePricePerShare|
Purchase Price Per Share
1.872 IQD
oda_TotalPurchasingValue|
Total Purchasing Value
917.280.000 (IQD) (588.000 USD)
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
49%
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
49%
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
49%
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
0,2%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
0,2%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
It will contribute to our growth in ceramic coating materials sector in Iraqi market.
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
Mustafa Mohamed Fateh, Hassan Zaid Tahseen
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
There is no.
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
08/12/2023
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Negotiation Procedure
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Not mandatory
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|
In order to contribute to our growth in the ceramic coating materials sector in the Iraqi market; the Company BoD has decided to sign a "Share Purchase Agreement" with Mustafa Mohamed Fateh and Hassan Zaid Tahsee, some of the current shareholders of the company named "Al-Sadaf Porselen Ve Seramik Kaşı Üretimi Limited Şirketi" ("Al-Sadaf"), established in Iraq/Baghdad and with a capital of 1,000,000,000 Iraqi Dinars ("IQD"), in order to purchase shares representing 49% of its capital, for a sum of 917.280.000 IQD (588.000 USD), and the Share Purchase Agreement was signed on December 8, 2023.
In accordance with the provisions of this Agreement; with the privileges granted along with the transferred shares, our Company will have management control of Al-Sadaf and after the transfer, the capital increase to be made by Al-Sadaf up to 10,000,000 USD (Ten Million American Dollars) will be accepted by our Company and other existing partners (Ahmed Vahit Hüseyin, 6%, Ferhat Karrie Şahin, 5%, Hassan Ziad Tahseen, 14,34%, Ahmed Mumtaz Mohamed, 11,33%, Mustafa Mohamed Fateh, 11,33%, Hussam Khazal Mohamed, 3%) in proportion to our shares in the Company's capital.
In order not to mislead investors during the purchase process and to take into consideration the bargaining power of our Company, the disclosure of information was postponed by the decision of the Board of Directors dated 14.09.2023 until the Share Purchase Agreement was signed.
CBRT exchange rate on December 8  is taken as reference for information purposes.