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
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
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
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 (%)
Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)
Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)
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
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
Peer Company and trading multiplesDid Valuation Report be Prepared?
Reason for not Preparing Valuation Report if it was not Prepared
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 firstname.lastname@example.org Tel: + 90 212 313 1888