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As previously announced in our Company's Public Disclosure dated 30 January 2019, Turcas Elektrik Toptan Satış A.Ş. (100% subsidiary of Turcas Petrol A.Ş.) had decided to apply to Energy Market Regulatory Authority in order to terminate its Supplier License. According to the notification obtained from Energy Market Regulatory Authority, Turcas Elektrik Toptan Satış A.Ş.'s Supplier License has been terminated in response to our application. Turcas Elektrik Toptan Satış A.Ş. has not carried out any operation related to the mentioned license for the last three years due to the developments in retail and wholesale electricity market as well as the fact that these operations can be carried out by both our subsidiary RWE & Turcas Güney Elektrik Üretim A.Ş. and its own subsidiaries and Turcas Kuyucak Geothermal Power Generation. Therefore, the mentioned transaction is not expected to impact our consolidated financial statements. Following this transaction, our Company aims to increase operational efficiency within the group and further simplify group structure. Kind regards, |
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.