Please find the public disclosure by one of our controlling shareholders as below:
Public Disclosure (General)
Name of the Company / Name of the
Shareholder
Address of the Company
Türk Ekonomi Bankası A.Ş. / BNP Paribas Fortis Yatırımlar
Holding A.Ş
TEB Kampüs C ve D Blok, Saray Mahallesi, Sokullu Caddesi,
:
No: 7A-7B Ümraniye/İSTANBUL
: (216) 635 35 35 – (216) 636 36 36
: [email protected]
Telephone and Fax No
E-mail
Telephone Fax No of the Investor
: (216) 635 35 35 – (216) 636 36 36
Relations Unit of the Company
Subject
: Sell-out Right / Squeeze-out Right
Public disclosure made by BNP Paribas Fortis Yatırımlar Holding A.Ş., one of the controlling
shareholders of Türk Ekonomi Bankası A.Ş. :
 Controlling Shareholders: BNP Paribas Fortis Yatırımlar Holding A.Ş., BNP Paribas Yatırımlar
Holding A.Ş., BNP Paribas and TEB Holding A.Ş. together hold 96.005% of Türk Ekonomi
Bankası acting jointly as the “Controlling Shareholders” according to the Communique of the
Capital Markets Board No II-27.2 on Squeeze-out and Sell-Out Rights (“Communiqué”),
 Sell-Out and Squeeze-Out Rights: Pursuant to Provisional Article 1 of the Communiqué
squeeze-out right became exercisable by the purchase of one share by BNP Paribas Fortis
Yatırımlar Holding A.Ş today,
 Sell-Out Right: As of today, the date that the additional share is purchased, the shareholders
other than the Controlling Shareholders have the right to sell their shares to BNP Paribas
Fortis Yatırımlar Holding A.Ş, one of the Controlling Shareholders, within three months and
their request to use such right should be made in writing to Türk Ekonomi Bankası A.Ş.
Investor Relations Unit.
Controlling Shareholders shall not acquire any shares within such three-month period, other
than the acquisitions made in relation to use of sell-out rights in accordance with the
Communique.
 Squeeze-Out Right: BNP Paribas Fortis Yatırımlar Holding A.Ş, one of the controlling
shareholders, shall apply to Türk Ekonomi Bankası A.Ş. to use its squeeze-out right within
three business days following the end of the three-months period,
 Price: The price for sell-out and squeeze-out shall be determined in accordance with the
principles set forth under Article 6 of the Communiqué.
Fair Value for Sell-Out Right shall be the highest of:
- 2.0032 TL: Weighted average market price of the 30 days preceding the
announcement regarding the acquisition of the additional share
- Price determined in the valuation report (the valuation will be made pursuant to
the relevant regulations of the Capital Markets Board within one month following
the receipt of the request of the shareholders for sell-out by the Company)
- Average of weighted average market price of the last 6 months: 2.0185 TL,
weighted average market price of the last one year: 2.0528 TL , and weighted
average market price of the last five years: 2.0562 TL preceding the
announcement of the acquisition of the additional share
Squeeze-out Price: Pursuant to the Communiqué, 2.0032 TL, average of weighted
average market prices of the last 30 days preceding the announcement of the
acquisition of the additional share
 Other Information:
It is decided to disclose to the public in the Public Disclosure Platform that:
-
On January 23, 2014, the controlling shareholders authorized BNP Paribas Group with
respect to the exercise of squeeze out offer. According to article 6 of the Communique on
Special Circumstances (II-15.1) the disclosure of the information has been deferred until BNP
Paribas Group would be able to effectively exercise such squeeze out offer. As the
Communiqué No: II – 27.2 has entered into force on November 12, 2014 and BNP Paribas
Fortis Yatırımlar Holding A.Ş. has decided to effectively exercise such right, the reasons for
deferral ceased.
-
An application will be made to Borsa İstanbul A.Ş. for delisting of Türk Ekonomi Bankası A.Ş.
shares simultaneously with the application to be made to the Capital Markets Board for
squeeze-out rights.
BNP Paribas Fortis Yatırımlar Holding A.Ş.
Didier Albert Nicole Van Hecke
Board Member
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Please find the public disclosure by one of our controlling