The share sale of 41,000,000 million shares of Çan2 Termik A.Ş., a subsidiary of our company, in which our company has a 66.64% shareholding, with a total value of 721,986,600 TL, has been realised on the stock exchange today, and the entire resource to be obtained will be transferred to Çan2 Termik A.Ş. as capital advance and the entire resource will be used in the early debt payment of Çan2 Termik A.Ş.'s Yapı Kredi Bank and Halkbank consortium. Thus, together with the share sale transactions carried out on 24.07.2023 and 21.07.2023, a total of TL 2,335,792,400 worth of shares were sold today and the entire resource to be obtained will be used for early debt repayment.
Debt settlement with the relevant transactions will start as of today and is expected to be completed within 3 days within the framework of the large amount of Euro purchase processes.
In addition to the advantageous structure of the energy sector, which generates long-term reliable income, the investments that generate this income constitute large loans and exchange rate risks. In this framework, the debt structure of energy companies is a structural consequence. The aim of the share sales is to maintain our sectoral advantage, to differentiate from the sector players and to completely free the company from the debt burden.
Kindly announced to the public.
In contradiction between the Turkish and English versions of this public disclosure, 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.
