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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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18/12/2023
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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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Sale of land and buildings on it
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oda_LocationAndAreaOfNoncurrentAssetSold|
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Bursa İli, Gemlik İlçesi, Hisar Mahallesi, 953 Ada, 52 nolu Parsel
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oda_BoardDecisionDateForSale|
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22/02/2024
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
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Yes
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oda_TotalSalesValue|http://www.xbrl.org/2003/role/verboseLabel
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USD 66,000,000 (approximately TL 2,043,703,200)
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oda_RatioOfTransactionAmountToValueOfCompanyBasedOnTheMathematicalWeightedAverageOnADailyBasisSixMonthsPriorToDateOfBoardDecision|
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2,03%
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oda_RatioOfSalesPriceToPaidInCapitalOfCompany|
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1441,77%
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oda_RatioOfSalesValueToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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4,03%
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oda_RatioOfSalesValueToTotalNetNoncurrentAssetsInLatestDisclosedFinancialStatementsOfCompany|
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9,59%
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oda_RatioOfValueOfNoncurrentAssetToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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3,71%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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9,20%
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oda_SalesConditions|
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Vadeli (Timed)
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oda_DateOnWhichRheTransactionWasWillBeCompleted|
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22/02/2024
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oda_AimOfSaleAndEffectsOnCompanyOperations|
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The decision has been made to sell the relevant land and buildings in order to position the production facilities in line with the company's strategic objectives and optimize the production of large-diameter pipes. It is expected that this sale will contribute to the efficient utilization of sources and will have a positive impact on company's performance.
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oda_ProfitLossArisedAfterSaleOfNoncurrentAsset|
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The profit impact of approximately TL 65,000,000 is expected in our company's consolidated financial statements.
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oda_HowWillSalesProfitBeUsedIfExists|
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-
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oda_BoardDecisionDateForUseOfSalesProfitIfExists|
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-
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oda_CounterParty|
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Borçelik Çelik Sanayii Ticaret A.Ş
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Evet (Yes)
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oda_NatureofRelationWithCounterParty|
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The company is a subsidiary of our main shareholder, Borusan Holding
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oda_AgreementSigningDateIfExists|
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-
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oda_ExercisePriceOfRetirementRightRelatingToSignificantTransaction|
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-
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oda_ValueDeterminationMethodOfNoncurrentAsset|
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It was determined by negotiation between the parties.
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oda_DidValuationReportBePrepared|
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Düzenlendi (Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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-
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oda_DateAndNumberOfValuationReport|
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19.02.2024/ 24_400_53
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oda_TitleOfValuationCompanyPreparedReport|
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Harmoni Gayrimenkul Değerleme ve Danışmanlık A.Ş.
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oda_ValueDeterminedInValuationReportIfExists|
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USD 63,133,617 (approximately TL 1,938,000,000)
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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 our company's material disclosure dated December 18, 2023, it was announced that studies had commenced only for the sale of land and buildings associated with the production of large-diameter pipes used in the infrastructure and project business segment at our Gemlik Facilities, where we currently operate with 3 factories. As part of the aforementioned proceedings, the sale of the land and buildings associated with the large-diameter pipe production facility located in Gemlik District of Bursa Province to Borçelik Çelik Sanayii Ticaret A.Ş., a company within the Borusan Group, for a total of USD 66,000,000 (approximately TL 2,043,703,200), has been completed on February 22, 2024. A payment, totaling USD 32,500,000 (approximately TL 1,006,369,000), was received on the day the transaction completed, while the remaining portion of USD 33,500,000 (approximately TL 1,037,334,200) is scheduled to be collected by December 15, 2024, which is the projected date for the vacant delivery of the real estate. The relevant amount has been secured through a letter of guarantee. We continue to evaluate the options regarding the sale or relocation of machinery and equipment associated with the production of large-diameter pipes located on the land sold at the Gemlik Facility. Concrete developments will be shared additionally as they arise. The machinery, equipment, land, and buildings used in the production of pipes, which have been manufactured in Turkey for many years and are currently located at our Gemlik Facilities, and offered to customers in the industrial, construction, and automotive segments, are not included in the scope of the relevant sales transaction. Our company will continue its production activities at Gemlik, Halkalı and Bursa facilities in Turkey. The Turkish translation of this disclosure is also available and in case of any discrepancy, 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.