Turkiye Garanti Bankasi A.S.: Sale of Türk Telekomünikasyon A.Ş. shares

TO: Investment Community

FROM : Garanti BBVA / Investor Relations

SUBJECT: Sale of Türk Telekomünikasyon A.Ş. shares

 

DATE: March 31, 2022

 

Re: Public Disclosure dated 10 March 2022

 

With the referenced public disclosure, it was announced that a share purchase agreement ("Agreement") was signed on 10 March 2022 with Turkish Wealth Fund (TVF) for the sale of Türk Telekomünikasyon A.Ş.'s ("TTKOM") 192,500,000,000 Group A registered shares which represent 55% of TTKOM's share capital and which are held by LYY Telekomünikasyon A.Ş ("LYY").

 

In this context, the sale and transfer, to TVF, of 192,500,000,000 Group A registered shares which represent 55% of TTKOM's share capital and which are held by LYY, for a purchase price of USD 1,650,000,000 (one billion six hundred fifty thousand million USD) was  completed on 31 March 2022.

 

In addition, pursuant to the Agreement, LYY will be paid an amount corresponding to 55% of the shares, which were transferred by LYY, out of the dividend amount that was resolved, by the TTKOM General Assembly today, to be distributed based on the independently audited 2021 consolidated financial statements.

 

 

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

 

We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

 

Yours sincerely,

Garanti BBVA

Contact Garanti BBVA Investor Relations:

Tel: +90 212 318 2352

Fax: +90 212 216 5902

E-mail: investorrelations@garantibbva.com.tr

www.garantibbvainvestorrelations.com