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MarketScreener Homepage  >  Equities  >  ISTANBUL STOCK EXCHANGE  >  Turkcell Iletisim Hizmetleri A.S.    TCELL   TRATCELL91M1

TURKCELL ILETISIM HIZMETLERI A.S. (TCELL)
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Turkcell Iletisim Hizmetleri : 11.1.2019 | Announcement Regarding the Completion of the Sale of Azerinteltek QSC Shares

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01/11/2019 | 08:59am EST

Istanbul, January 11, 2019

Announcement Regarding the Completion of the Sale of Azerinteltek QSC Shares

With reference to our announcement dated November 16, 2018, the transfer of shares held by our

Company's 55% owned subsidiary İnteltek İnternet Teknoloji Yatırım ve Danışmanlık Ticaret A.Ş. ("İnteltek") in its 51% owned subsidiary Azerinteltek QSC ("Azerinteltek") with a nominal value of

AZN 51,000 to Baltech Investment LLC, shareholder of Azerinteltek with a 24.5% shareholding, has been completed on January 11, 2019 for a total consideration of EUR 19,530,177.

Board Decision Date for Sale

:

26.10.2018

Were Majority of Independent Board Members' Approved the Board Decision for Sale?

Yes

:

Title of Non-current Financial Asset Sold

  • : Azerinteltek QSC ("Azerinteltek")

    Field of Activity of Non-current Financial Asset sold

  • : Information and entertainment services

    Capital of Non-current Financial Asset sold

  • : AZN 100,000

    Date on which the Transaction was/will be Completed

  • : 11.01.2019

    Sales Conditions

  • : Cash

    Nominal Value of Shares Sold

  • : AZN 51,000 (Inteltek's stake)

    Sales Price Per Share

  • : EUR 383

    Total Sales Value

  • : EUR 19,530,177

    Ratio of Shares Sold to Capital of Non-current Financial Asset (%)

    Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Sales Transaction (%)

  • : 28.07%

:

0%

Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)

:

0%

Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)

: 0.02%

Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)

: 0.67%Effects on Company Operations

:The parent-subsidiary relationship is ceased.

Profit / Loss Arised After Transaction

:

The profit generated with this transaction is calculated to be TRY58.2 million based on financials as of November 30, 2018.

How will Sales Profit be Used if Exists?

Board Decision Date for Use of Sales Profit if Exists

: :

-

-

Title/ Name-Surname of Counter Party Bought

Is Counter Party a Related Party According to CMB Regulations?

: :Baltech Investment LLC

Yes

Relation with Counter Party if any

Agreement Signing Date if Exists

Value Determination Method of Non-current Financial Asset

: : :

One of the other two shareholders of the financial asset sold

15.11.2018

Peer Company and trading multiplesDid Valuation Report be Prepared?

Reason for not Preparing Valuation Report if it was not Prepared

: :

No.

Not required by the legislation.

Value Determined in Valuation Report if Exists

:

-

Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report

For more information: Turkcell Investor Relations investor.relations@turkcell.com.tr Tel: + 90 212 313 1888

:

-

Disclaimer

Turkcell Iletisim Hizmetleri AS published this content on 11 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 January 2019 13:58:03 UTC

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