Related Companies
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Related Funds
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English
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oda_NoncurrentFinancialAssetAcquisitionAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForAcquisition|
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18/05/2018
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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YES
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Mavi Jeans Inc. (Mavi Canada)
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Sale, marketing and distribution of apparel products
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oda_CapitalOfNoncurrentFinancialAsset|
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1,800,200 CAD
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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21/05/2018
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oda_AcquisitionConditions|
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Peşin (Cash)
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oda_DetailedConditionsIfItIsATimedPayment|
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-
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oda_NominalValueOfSharesAcquired|
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450,050 CAD
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oda_PurchasePricePerShare|
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8.83 CAD
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oda_TotalPurchasingValue|
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3,975,000 CAD
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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25%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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63.25%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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63.25%
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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1.3%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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0.8%
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oda_EffectsOnCompanyOperations|
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It will increase the impact and efficiency of management of current Canada operations
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oda_DidTakeoverBidObligationArised|
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Hayır (No)
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oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
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Hayır (No)
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oda_TitleNameSurnameOfCounterParty|
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Kitsch Apparel Inc.
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Evet (Yes)
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oda_RelationWithCounterPartyIfAny|
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The Seller is the minority shareholder of Mavi Jeans Inc. which is a subsidiary of Mavi Giyim. The major shareholder of the Seller, Arkun Durmaz is the general manager of Mavi Jeans Inc. Canada
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oda_AgreementSigningDateIfExists|
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-
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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DCF analysis and comparable company analysis
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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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10 April 2018
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oda_TitleOfValuationCompanyPreparedReport|
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PwC Yönetim Danışmanlığı A.Ş. (PwC Management Consulting Turkey)
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oda_ValueDeterminedInValuationReportIfExists|
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3.7 mn CAD - 4.2 mn CAD
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oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
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The transaction is in accordance with the valuation report
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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Our Company's Board of Directors has resolved to ;
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Purchasing of shares representing 25% of the capital of Mavi Jeans Inc. ("Mavi Canada") which is a subsidiary of the Company, from the Company's related party Kitsch Apparel Inc.,
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Paying to Kitsch Apparel Inc. CAD 3,975,000 as sales price,
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Carrying out all necessary transactions for the resolution of the Board of Directors, including the signing of the share transfer agreement.
The sales price of CAD 3,975,000 was determined taking into account the Appraisal Report dated April 10, 2018, prepared by the PwC Yönetim Danışmanlığı A.Ş.
As per the Related Party Transactions Policy the content of which was disclosed through the public offering prospectus and by taking into account the fact that the amount of the transaction corresponds to 1.5% of the gross revenues under the preceding year's income statement and to 1.3% of the preceding year's balance sheet, the transaction is approved by the Board of Directors by taking the opinion of the Audit Committee and through the affirmative votes of all Independent Board Members.
Following the planned share transfer, the Company will directly control 25% of the shares of Mavi Canada and together with the current 38.25 indirect shareholding The effective shareholding ratio of the Company in Mavi Canada will rise to 63.25 % .
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.
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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.