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English
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oda_NoncurrentFinancialAssetAcquisitionAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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oda_DelayedAnnouncementFlag|
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Evet (Yes)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForAcquisition|
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30/01/2019
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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2
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Axiom Materials Acquisition LLC
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Composite Prepreg
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oda_CapitalOfNoncurrentFinancialAsset|
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65,441,543 USD
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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After all required legal permits in Turkey and the USA are granted
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oda_AcquisitionConditions|
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Peşin (Cash)
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oda_DetailedConditionsIfItIsATimedPayment|
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-
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oda_NominalValueOfSharesAcquired|
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74,166,742 USD
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oda_PurchasePricePerShare|
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2.44 USD
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oda_TotalPurchasingValue|
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174,830,000 USD
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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Indirectly 95.83%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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Indirectly 95.83%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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After the transfer of shares, Kordsa Inc has 95.83% direct voting right in Axiom. Our Company has 95.83% voting right in this company indirectly
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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17.57% (30.09.2018)
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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37.03% (31.12.2017)
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oda_EffectsOnCompanyOperations|
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Its estimated to have positive effects
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oda_DidTakeoverBidObligationArised|
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Hayır (No)
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oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
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Hayır (No)
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oda_TitleNameSurnameOfCounterParty|
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Axiom Materials Holdings LLC
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|
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-
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oda_AgreementSigningDateIfExists|
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16/02/2019
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Negotiation Method
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Negotiation Method
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oda_DateAndNumberOfValuationReport|
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-
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oda_TitleOfValuationCompanyPreparedReport|
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-
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oda_ValueDeterminedInValuationReportIfExists|
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-
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oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
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-
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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Our affiliated company Kordsa Inc has decided to purchase 95.83% shares of Axiom Materials Acquisition LLC which provides advanced composite materials to the aerospace industry as well as the next generation transportation vehicles and owned by Axiom Materials Holdings LLC in exchange of a total purchase price of USD 174,830,000 excluding closing adjustments (onehundredseventy-fourmillioneighthundredthirtythousand) for %95.83 of total outstanding shares after all required legal permits in Turkey and the USA are granted. Final purchasing price will be determined in the closing process after approvals of Bureau of Competition and the Committee on Foreign Investment in the USA (CFIUS). The Material Event Disclosure regarding this purchasing process has been decided to delay to prevent our share performance and protect our investors against the possible fluctuations and speculative movements in our shares if the purchasing transaction would fail in the end of process. This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.