REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: Update of the voluntary tender offer price

Turkiye Garanti Bankasi ASAnnouncement

25/04/2022 07:15

============

   Turkiye Garanti Bankasi A.S. (TGBD)
   Turkiye Garanti Bankasi A.S.: Update of the voluntary tender offer price

   25-Apr-2022 / 07:05 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   TO: Investment Community

         FROM : Garanti BBVA / Investor Relations

   SUBJECT: Update of the voluntary tender offer price

    

    

   DATE: April 25, 2022

    

   Banco Bilbao  Vizcaya  Argentaria,  S.A. ("BBVA"),  has  informed  Türkiye
   Garanti Bankası A.Ş. ("Garanti BBVA") of the following:

    

   In relation to the voluntary tender offer launched by BBVA for the  entire
   share capital of Garanti  BBVA ("VTO"), it  was previously announced  that
   BBVA applied  to the  Capital  Markets Board  of  Turkey ("CMB")  for  its
   approval of  the VTO  and the  information memorandum  in accordance  with
   Section 4 of the  Communiqué on Takeover Bids  (Pay Alım Teklifi  Tebliği)
   no. II-26.1 ("Communiqué")  and on March  31, 2022, the  CMB approved  the
   information memorandum in accordance with  Section 4 of the Communiqué  in
   their letter numbered E-29833736-110.05.05-19391 and dated March 31, 2022.
   The VTO price was set at TRY 12.20 for shares with a nominal value of  TRY
   1.00 and the tender offer period of  20 business days for the VTO  started
   on April 4, 2022.

    

   The Board of Directors of BBVA decided to increase the Voluntary  Takeover
   Bid price offered in cash for each Garanti BBVA share with a nominal value
   of TRY 1.00  from the initially  announced price (12.20  Turkish Lira)  to
   15.00 Turkish Lira.

    

   As a result of  the increase in  the Voluntary Takeover  Bid price and  in
   accordance with the  Communiqué, the  acceptance period  of the  Voluntary
   Takeover Bid is  extended for a  period of 2  weeks (the last  day of  the
   acceptance period of  the Voluntary Takeover  Bid will be  May 18,  2022).
   This date takes into  consideration the national  holidays in Turkey  from
   May 2,  2022 to  May 4,  2022 and  will need  to be  adjusted in  case  of
   additional national  holidays.  As per  Article  22/4 of  the  Communiqué,
   during this 2 week additional period, no new modifications can be made  to
   the tender offer.

    

   The amount equal to the difference of 2.80 Turkish Lira per share will  be
   paid to the investors who have already  sold their shares to BBVA as  part
   of the Voluntary Takeover bid within  the two business days following  the
   expiry of the original acceptance period (i.e. by May 6, 2022)

    

   The updated Voluntary Tender Offer Bid  Form will be available to  Garanti
   BBVA   shareholders   and   investors    on   the   following    webpages:
   https://kap.org.tr/,        https://www.garantibbvainvestorrelations.com/,
   https://www.garantibbva.com.tr/                                        and
    1 https://www.garantibbvayatirim.com.tr/.

    

    

   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:  2 investorrelations@garantibbva.com.tr

          3 www.garantibbvainvestorrelations.com

    

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          US9001487019
   Category Code: TEN
   TIDM:          TGBD
   LEI Code:      5493002XSS7K7RHN1V37
   Sequence No.:  157154
   EQS News ID:   1333701


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    4 fncls.ssp?fn=show_t_gif&application_id=1333701&application_name=news&site_id=reuters9

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=89f633c19cd32fd180549b6b6aaa5409&application_id=1333701&site_id=reuters9&application_name=news
   2. mailto:investorrelations@garantibbva.com.tr
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=19979b7bae6aeeb49d76141fbe11774c&application_id=1333701&site_id=reuters9&application_name=news


============