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English
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oda_NoncurrentAssetSaleAbstract|
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oda_UpdateAnnouncementFlag|
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Evet (Yes)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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25.01.2016; 05.02.2021; 19.04.2021
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_NatureOfNonCurrentAssetSold|
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Products, Marketing Authorizations of Products, Contracts, Fixed Assets, Inventory, Operational Know-How and Employees in relation to the hospital products business.
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oda_LocationAndAreaOfNoncurrentAssetSold|
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-
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oda_BoardDecisionDateForSale|
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05/02/2021
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
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Our subsidiary is not publicly traded, therefore, it does not have any independent Board members.
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oda_TotalSalesValue|http://www.xbrl.org/2003/role/verboseLabel
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1) In return for all Assets other than Inventory and Fixed Assets USD 3,700,000 + VAT 2) In return for the Inventory, USD 2,543,400 + VAT. In return for the Fixed Assets, USD 234,410 + VAT 3) A one-time performance fee based on the net revenue of the relevant business to be generated in 2021 capped at USD 550,000.
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oda_RatioOfTransactionAmountToValueOfCompanyBasedOnTheMathematicalWeightedAverageOnADailyBasisSixMonthsPriorToDateOfBoardDecision|
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1.11
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oda_RatioOfSalesPriceToPaidInCapitalOfCompany|
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7.73
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oda_RatioOfSalesValueToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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0.87
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oda_RatioOfSalesValueToTotalNetNoncurrentAssetsInLatestDisclosedFinancialStatementsOfCompany|
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519.28 (*)
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oda_RatioOfValueOfNoncurrentAssetToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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0.48
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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5.83
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oda_SalesConditions|
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Vadeli (Timed)
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oda_DateOnWhichRheTransactionWasWillBeCompleted|
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01.05.2021
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oda_AimOfSaleAndEffectsOnCompanyOperations|
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The developments in the health sector and expectations in terms of its evolvement, short term impacts of the Covid-19 pandemic and local competition conditions were taken into consideration. The transfer decision will not have a significant impact on our operations.
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oda_ProfitLossArisedAfterSaleOfNoncurrentAsset|
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As a result of our subsidiary's transfer decision, the profit according to the TFRS (Turkish Financial Reporting Standards) is calculated as TL 32,753,431.
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oda_HowWillSalesProfitBeUsedIfExists|
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Our subisidiary will use the profit generated from the sale for portfolio enhancement and working capital needs.
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oda_BoardDecisionDateForUseOfSalesProfitIfExists|
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-
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oda_CounterParty|
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Baxter Turkey Renal Hizmetler A.Ş.
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_NatureofRelationWithCounterParty|
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-
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oda_AgreementSigningDateIfExists|
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05/02/2021
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oda_ExercisePriceOfRetirementRightRelatingToSignificantTransaction|
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Does not satisfy the criteria of a significant transaction.
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oda_ValueDeterminationMethodOfNoncurrentAsset|
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Determined by the Parties through negotiation.
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Not prepared, as the value was determined through negotiation.
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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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(*) In terms of the Assets other than Inventory and Fixed Assets (Products, Marketing Authorizations regarding Products, Contracts, Operational Know-How and Domain Names), as these assets are "Intangible Assets" the account item "Net Value of Intangible Assets" indicated our Company's financial statements dated 31.03.2021, which have already been disclosed to the public, has been used for the calculation of the relevant ratio. In our public disclosures dated 5 February 2021 and 19 April 2021, we have announced in brief that the exclusive Distribution Agreement signed with Baxter group was ending in 2021 and that Baxter Group has conveyed its intention to handle the relevant business internally. In light of the recent developments, it was decided that: (i) an Asset Sale and Purchase Agreement be signed between EİP and Baxter Turkey Renal Hizmetler A.Ş. ("Baxter Türkiye") concerning the termination of EİP's distribution of hospital products business and transfer of assets in relation to the hospital products to Baxter Türkiye, (ii) the Competition Authority has approved the transfer transaction in its meeting dated 15 April 2021 and (iii) all issues that become final during the process be shared with the public accordingly. At this stage, the transfer transactions have been completed as of 1 May 2021, the value for the assets in relation to the relevant Business other than inventory and fixed assets determined as USD 3,700,000 +VAT has been collected as of today (i.e. 3 May 2021). The value for the inventory determined as USD 2,543,400 + VAT will be collected during the period between 20-26 October 2021 and the value for the fixed assets determined as USD 234,410 + VAT will be collected on 3 November 2021. The employment agreements of the 50 employees employed in the relevant business subject to transfer have also been transferred to Baxter Türkiye together with all rights and obligations. 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.