Related Companies
|
[]
|
||||||||
Related Funds
|
[]
|
||||||||
English
|
|||||||||
oda_RelatedPartyTransactionsAbstract|
|
|
||||||||
oda_UpdateAnnouncementFlag|
|
|
Evet (Yes)
|
|||||||
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
09.01.2018 , 07.03.2019, 15.05.2020
|
|||||||
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_AnnouncementContentSection|
|
|
||||||||
oda_ExplanationSection|
|
|
||||||||
oda_ExplanationTextBlock|
|
Our Company's board of directors has resolved with its various decisions to sign a share purchase agreement ("SPA") at an amount of USD 720,000,000 with SOCAR Turkey so as to become 18% indirect shareholder in STAR; to pay the purchase price in three (3) installments; and to pay the final installment on the Closing date that has been defined as 30 June 2021 at the latest simultaneously with the share transfer and to take all necessary actions in relation to the abovementioned transfer.
However, it was considered to be appropriate to postpone the Closing date until 03.01.2022, considering the pandemic which continues to effect all countries in the world, adverse developments in the markets and non-occurrence of the project completion date as defined under STAR's financing arrangements due to these market conditions. In this regard, an understanding has been reached with SOCAR Turkey's representatives and the Agreement has been amended in this respect.
|
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.