TURK EKONOMI BANKASI AS
Address of the Company : TEB Kampüs C ve D Blok, Saray Mahallesi, Sokullu Caddesi,
No: 7A-7B Ümraniye/İSTANBUL
Telephone and Fax Number : (0216) 635 35 35 - (0216) 636 36 36
E-mail address : yatirimci.iliskileri@teb.com.tr
Telephone and Fax Number of the investors/shareholders relationship unit of the Company
: (0216) 635 35 35 - (0216) 636 36 36
Is the declaration an Update? : No
Is the declaration a Correction? : No
Is the declaration postponed? : Yes
Date of the previous special :
circumstance declaration
Summary : Authorization for Subsidiary Sale
Date of the Board of Directors resolution regarding the sale | : | 24/07/2015 |
Title of the fixed asset sold | : | The Economy Bank N.V. |
Field of activity of the fixed asset sold | : | Banking |
Share capital of the fixed asset sold | : | 30.000.000 Euro |
Date of completion | : | Not determined yet |
Terms of sale | : | |
Nominal value of the shares sold | : | 30.000.000 Euro |
Price per share | : | Not determined yet. |
Total amount | : | Not determined yet. |
Ratio of the shares sold to the capital of the fixed asset sold (%) | : | 100% |
Shareholding ratio in the fixed asset sold following the sale (%) | : | 0% |
Ratio of the voting rights to the total voting rights of the fixed asset sold following the sale (%) | : | 0% |
Ratio of the fixed asset sold to the total assets as per the last publicly announced financial statements of the partnership (%) | : | As of 31 March 2015 ratio of the total assets of The Economy Bank N.V. to TEB A.Ş's consolidated total assets is 2.09%. |
Effects on the activities of the partnership | : | The fund to be provided by the sale shall be used for strengthening the share capital of the company. |
Profit/Loss amount incurred as a result of the sale | : | This shall be determined following the completion of the cost calculations and audit studies. |
How the profit derived from the sale, if any, will be used | : | Not decided yet. |
The date of the Board of Directors resolution regarding the use of profit derived from the sale, if any | : | Not resolved yet. |
Name/Title of the purchaser | : | BNP Paribas Fortis S.A./N.V. |
Relationship of the purchaser with the partnership | : | An indirect shareholder of TEB A.Ş. |
Valuation model of the fixed asset | : | Valuation will be determined by certain adjustments to the equity as agreed by the parties. |
Has any valuation report been issued or not | : | Not issued. |
If not, the reason of not issuing a valuation report | : | No legal obligation. |
Amount as per the valuation report | : | n/a |
The grounds of non performing the transaction in line with the outcomes of the valuation report | : | n/a |
24.07.2015
EXPLANATIONS:
In the Board of Directors Meeting of our Bank (TEB A.Ş.) on 24 July 2015, it has been unanimously resolved that: all of our shares in The Economy Bank N.V., a company duly organized and existing under the Laws of the Netherland, having its registered offices at the address of Prof. W.H. Keesomlaan 5, 1183DJ, Amstelveen, The Netherlands, with a registered and fully paid share capital of EUR 30,000,000,- divided into 60,000 registered shares each with a nominal value of EUR 500, shall be sold to BNP Paribas Fortis S.A./N.V.
We hereby state that the above explanations comply with the provisions of the Communiqué of the Capital Market Board, they fully represent the information which we received on this issue/issues, the declared information is compatible with the documents, related books and records of the Company, we used all the efforts to gather the information complete and accurate and we are responsible for the explanations stated above.
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