Brief: Batıcim Batı Anadolu Says It Decides To Restructure, Announces Retirement Right With Share Price Set At 4.38 Lira

Baticim Bati Anadolu Sanayi ve Ticaret

18/04/2025 06:59

April 18 (Reuters) - BATIÇİM BATI ANADOLU ÇİMENTO SANAYİİ BTCIM.IS:

SAID ON THURSDAY, DECIDES TO LEASE CEMENT FACTORY TO SUBSIDIARY BATISOKE CIMENTO SANAYII WITH ALL TOOLS AND EQUIPMENT, WITH ALLOWANCE TO USE "BATICIM" BRAND

WITH NO CEMENT AND CLINKER PRODUCTION UNDER DIRECT OPERATIONS OF COMPANY, DECIDES TO CHANGE TITLE TO "BATICIM BATI ANADOLU A.Ş.", AND CHANGE TRADED STOCK SYMBOL

DECIDES TO ESTABLISH A FUND TO DEVELOP REAL ESTATE PROJECTS ON OWNED REAL ESTATES

DECIDES TO TRANSFER BORNOVA FACTORY PLOT, PLOTS IN ERZENE AND OTHER REAL ESTATES TO FUND FOR DEVELOPMENT OF REAL ESTATE PROJECTS

BATISOKE TO OPERATE BORNOVA FACTORY UNTIL REAL ESTATE DEVELOPMENT PROJECT TAKES PLACE

DECIDES TO ESTABLISH USUFRUCT OVER BATILIMAN PLOT FOR 99 YEARS, OWNED BY SUBSIDIARY BATILIMAN LIMAN ISLETMELERI

DECIDES TO ESTABLISH PREVIOUSLY DECIDED GRINDING AND PACKAGING PLANT ON BATILIMAN PLOT AND LEASE TO BATISOKE AFTER ESTABLISHED

TO SUBMIT DECISION TO GENERAL ASSEMBLY OF COMPANY FOLLOWING DECISION OF CAPITAL MARKETS BOARD (CMB)

FOLLOWING CMB DECISION, EQUITY HOLDERS WHO VOTE AGAINST DECISIONS AND SUBMITS OPPOSITION COMMENTARY TO MEETING REPORT TO HAVE RETIRMENT RIGHT WITH THEIR SHARES BEING OFFERED TO EXISTING SHAREHOLDERS

IN CASE SHARES ARE NOT TAKEN BY EXISTING SHAREHOLDERS, COMPANY TO BUYBACK THESE SHARES

DETERMINES THE SHARE PRICE FOR RETIREMENT RIGHT TO BE 4.38 LIRA PER SHARE, ACCORDING TO ARITHMETIC AVERAGE OF DAILY CORRECTED WEIGHTED AVERAGE PRICES IN STOCK EXCHANGE IN LAST THIRTY DAYS

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 (Gdansk Newsroom)

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