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Aksa Madagascar B.V., a wholly-owned subsidiary of Aksa Enerji Üretim A.Ş. ("Aksa Energy") has acquired 416.5 shares, each with a nominal value of 1 (one) US Dollar, in AKSAF Power Ltd, a company established for the construction of a power plant and electricity sales in Republic of Madagascar, in which Aksa Madagascar B.V. had a 58.35% stake and our foreign partner AF Power Ltd had a 41.65% stake, for a consideration of USD 15.000.000. Some USD 5.000.000 portion of the share transfer price has been paid up on the transfer date (today) and the remaining portion will be paid in quarterly installments of USD 833.333 to be completed by December 31, 2022.
Following the share transfer, Aksa Madagascar B.V., a wholly-owned subsidiary of Aksa Energy, has become the sole owner of AKSAF Power Ltd, which owns a 66 MW power plant in Madagascar and operates a 24 MW power plant on behalf of the Republic of Madagascar as per the maintenance and operation agreement. There are no minority shareholders left in our operations in the Republic of Madagascar.
Respectfully announced to our esteemed stakeholders
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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.