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English
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oda_NoncurrentFinancialAssetSaleAbstract|
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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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13.02.2024, 05.03.2024
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oda_DelayedAnnouncementFlag|
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Evet (Yes)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForSale|
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13/02/2024
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
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Yes
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oda_TitleOfNoncurrentFinancialAssetSold|
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Zorlu Enerji Dağıtım AŞ
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oda_FieldOfActivityNoncurrentFinancialAssetSold|
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Distribution of gaseous fuels and electricity through the main grid and other
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oda_CapitalOfNoncurrentFinancialAssetSold|
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TL 895,150,000.00
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oda_DateOnWhichRheTransactionWasWillBeCompleted|
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12.03.2024
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oda_SalesConditions|
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Peşin (Cash)
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oda_NominalValueOfSharesSold|
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TL 895,150,000.00
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oda_SalesPricePerShare|
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TL 7.1221
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oda_TotalSalesValue|
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The total sale price is USD 200,000,000 amounting to TL 6,375,330,000 (USD/TRY exchange rate of 31.8767). As of 12.03.2024 transfer date, Zorlu Enerji Dağıtım AŞ's financial and commercial liabilities amounting to TL 2,806,342,588 were deducted from the sales price and the balance of TL 3,568,987,412 was paid in cash and upfront by the buyer.
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oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
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100
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
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0
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
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0
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oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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8.12%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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21.20%
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oda_EffectsOnCompanyOperations|
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Termination of affiliate relationship
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oda_ProfitLossArisedAfterTransaction|
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To be stated under the relevant footnote of Zorlu Enerji's financial report dated March 31, 2024.
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oda_HowWillSalesProfitBeUsedIfExists|
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Within the framework of investment policies and strategies, it will be used to pay down financial debt.
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oda_BoardDecisionDateForUseOfSalesProfitIfExists|
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-
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oda_TitleNameSurnameOfCounterPartyBought|
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Gaztrak Enerji AŞ, 100% subsidiary of Palmet Enerji AŞ
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|http://www.xbrl.org/2003/role/verboseLabel
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No
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oda_AgreementSigningDateIfExists|
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13/02/2024
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Negotiated procedure
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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It is not obligatory to prepare valuation report.
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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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Pursuant to our material event disclosures dated 13.02.2024 and 05.03.2024; as per the adjustment procedures stipulated under the Share Purchase Agreement, by making adjustment for the financial and commercial liabilities on the closing date and deducting the financial and commercial liabilities amounting to a total of 2,806,342,588 Turkish Liras from the sale price and payment of the remaining amount of 3,568,987,412 Turkish Liras in cash and upfront by the buyer, the sale of all of our shares in our 100% owned subsidiary Zorlu Enerji Dağıtım AŞ for a total consideration of 6,375,330,000 Turkish Liras, equivalent to USD 200,000,000 (converted at the USD/TRY exchange rate of 31.8767), to Gaztrak Enerji AŞ, a 100% subsidiary of Palmet Enerji AŞ, is completed on 12.03.2024. Considering that the transfer price would be determined at the closing stage subject to the agreement between the parties by making adjustments for the financial and commercial liabilities of Zorlu Enerji Dağıtım AŞ on the closing date and to avoid misleading the investors, the disclosure of the said information to the public has been postponed with the Board of Directors' decision dated 13.02.2024 until the date when the share sale price will be finalized. 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.