Related Companies
|
[]
|
||||||||
Related Funds
|
[]
|
||||||||
English
|
|||||||||
oda_RelatedPartyTransactionsAbstract|
|
|
||||||||
oda_UpdateAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
09.01.2018 , 07.03.2019
|
|||||||
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_AnnouncementContentSection|
|
|
||||||||
oda_ExplanationSection|
|
|
||||||||
oda_ExplanationTextBlock|
|
Our Company's Board of Directors has resolved with its decisions dated 09.01.2018 and 07.03.2019 to sign a share purchase agreement ("SPA") at an amount of USD 720,000,000 with STEAŞ, our main shareholder, so as to become 18% indirect shareholder in STAR; to pay the purchase price in three equal installments; and to pay the final installment on the Closing date that has been defined as 30 June 2020 at the latest simultaneously with the share transfer and to take all necessary actions in relation to the abovementioned transfer. However, in order to strengthen our Company's cash position, considering the pandemic which spread to all countries in the world and adverse developments in the markets and non-occurrence of the project completion date as defined under STAR's financing arrangements, as a result of negotiations with STEAŞ, a mutual understanding has been reached for determining the last date for Closing, and consequently the third installment payment last date, as 30.06.2021, 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.