Turkiye Garanti Bankasi A.S.: Sale of shares representing the share capital of Türk Telekomünikasyon A.Ş.

TO: Investment Community

FROM : Garanti BBVA / Investor Relations

SUBJECT: Sale of shares representing the share capital of Türk Telekomünikasyon A.Ş.

 

 

DATE: March 10, 2022

 

 

Re: Public disclosure dated 17.12.2021

 

In our public disclosure, it was announced that negotiations had been started with Türkiye Wealth Fund ("TVF") for the sale of 192,500,000,000 Group A registered shares representing 55% of the share capital of Türk Telekomünikasyon A.Ş. ("TTKOM") owned by LYY Telekomünikasyon A.Ş. ("LYY").

 

In this context, LYY and TVF have signed a Share Purchase Agreement on March 10, 2022 regarding the sale of 192,500,000,000 Group A registered shares which represent 55% of share capital of TTKOM with a consideration of USD 1.650.000.000. The share transfer will be completed following obtaining of necessary approvals and fulfilling of conditions specified in the relevant agreement. 

 

Additionally, it has been agreed among parties that the dividend amount relating to the shares subject to sale, which will be determined according to the audited consolidated financial statements for the year end 2021 and approved at TTKOM's 2021 General Shareholders' Meeting, will be paid to LYY.

 

 

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