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Our Company has signed a Share Purchase Agreement ("Agreement") to purchase 255,377 shares representing 86.70% of ELBA HR İnsan Kaynakları Eğitim ve Danışmanlık Anonim Şirketi's (Peoplise) equity with an average price per share of 6.46 USD. As per the Agreement, after the completion of the share transfer, there is a possible performance-based payment in 2021 in addition to the share purchase price. Share transfer will take place immediately following the completion of the conditions specified in the Agreement.
Peoplise is an integrated and video-enabled digital human resources management platform designed for all recruitment needs of corporate companies. The solution, positioned as the Talent Management System, turns the application tracking systems (ATS) into a mobile compatible platform that includes social media hiring, digital evaluation and branding tools. Its existing customers operate in the financial services, retail, manufacturing and professional service sectors. Peoplise, which has 13 employees, was established in 2013 and currently has 74 corporate customers offering services in 13 languages.
Human Resources solutions, which have an important share after ERP and e-government solutions in Logo's one-time revenues, are a strategically important product group that supports competitiveness and general brand awareness in the large enterprise segment. It is predicted that Peoplise will complement Logo's current Human Resources solutions and will further strengthen the ongoing investments for HR solutions portfolio, particularly with the synergy it will create during the transition to cloud-based solutions.
Following the completion of the share purchase, "Subscription and Shareholders Agreement" and "Executive Employment Agreement" will be signed with Çağatay Güney and Doruk Molo, founders and shareholders of Peoplise.
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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.