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Amount Of Sale Out Rights Exercised
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Daily Amount Of Sale Out Rights Exercised Info
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Total Amount Of Sale Out Rights Exercised Info
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Squeeze Out
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Additional Explanations
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Due to the fact that, on 26 June 2019, the voting rights of Mayhoola for Investments LLC ("Mayhoola") in Beymen Perakende ve Tekstil Yatırımları A.Ş. ("the Company") exceeded the rate of 98%, the three-month prescription period regarding the use of right to sell-out, which was initiated on 27 June 2019, was expired on 27 September 2019. The shareholding ratios of other shareholders in the Company, except Mayhoola, decreased to 0.08% within three months and on 2 October 2019, Mayhoola applied to the Company to exercise its right to squeeze-out. In the exercise of the right to squeeze-out, the sale price is determined within the framework of the Capital Markets Board's Communiqué on the Rights of Squeeze-out and Sell-out (II-27.2) ("Communiqué"). Accordingly, as stipulated in Article 6/(2)/(a)/(1) of the Communiqué, the right of squeeze-out shall be exercised at the price of 5.3619 TL, which is the arithmetic average of the volume weighted average prices in the stock market within the thirty days before 27 June 2019, the date of public disclosure of the acquisition of the dominant shareholder position by Mayhoola. The process regarding the right of squeeze-out and the removal of the Company (BOYP) from Borsa İstanbul A.Ş. will proceed as follows: (i) Based on Mayhoola's application dated to 2 October 2019, the Company's Board of Directors will decide on the cancellation of the shares subject to right of squeeze-out and the issuance of new shares to be issued in return for such shares. (ii) An application will be made to the Capital Markets Board ("CMB") in order to approve the issuance of new shares to be made within the framework of the allocated capital increase arrangements. (iii) Simultaneously with the application to the CMB, an application to Borsa İstanbul A.Ş. will be made to delist the shares from the exchange list. (iv) In the three working days following the CMB's approval, the approved issuance certificate shall be registered with the trade registry and shall be published in the Trade Registry Gazette of Turkey. Previous shares subject to the exercise of the right of squeeze-out shall be canceled as of the date of registration. (v) In accordance with Article 6/(2)/(a)/(1) of the Communiqué, TL 5,3619, which is the price determined per share with a nominal value of one TL, shall be paid for the cancelled shares. (vi) It shall be applied to the Central Registry Agency ("CRA") with the request of deposit of the worth of the accounts of the shareholders excluding Mayhoola, the cancellation of these shares and the transfer of the new shares to the controlling shareholder's account. (vii) As of the mentioned date, the balance amount related to the shares monitored by the Company in the CRA system and the shares of the persons who have not been dematerialized and who have proved that they are shareholders after the mentioned date, shall be kept in a special blocked account to be opened in Takasbank by the relevant investment institutions for a period of three years by means of yielding interest. (viii) The amounts regarding the shares registered in the CRA system will be transferred to the accounts of the relevant investment institutions by CRA to be transferred to the rights holders' accounts. (ix) Following the completion of this process, Borsa İstanbul A.Ş. will decide to delist the Company from the stock exchange list and to permanently prohibit it from trading, and the decision will enter into force on the business day following the announcement of the decision at the Public Disclosure Platform. With this transaction, the Company will be removed from the scope of Capital Markets Law No. 6362 by the CMB.
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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.