Kartonsan Says Its Controlling Shareholders Signs Share Purchase Agreement To Sell Their Combined 77.21% Stake For $72 Million

KARTONSAN KARTON SANAYİ VE TİCARET BIST:KARTN:

• ITS CONTROLLING SHAREHOLDERS HAD SIGNED A SHARE PURCHASE AGREEMENT TO SELL THEIR COMBINED 77.21% STAKE IN THE COMPANY TO HASAN PEKER AND AYDIN VELI SERIN FOR $72 MILLION, SUBJECT TO CUSTOMARY CLOSING ADJUSTMENTS

• PAK HOLDING, ASIL HOLDING AND PAK GIDA URETIM VE PAZARLAMA SIGNED THE AGREEMENT ON JULY 6 FOR THE SALE OF SHARES WITH A TOTAL NOMINAL VALUE OF 57.91 MILLION LIRA, REPRESENTING 77.21% OF KARTONSAN'S PAID-IN CAPITAL OF 75 MILLION LIRA

• UNDER AGREEMENT, HASAN PEKER WILL ACQUIRE A 38.605% STAKE, CORRESPONDING TO SHARES WITH A NOMINAL VALUE OF 28.95 MILLION LIRA, WHILE AYDIN VELI SERIN WILL ACQUIRE AN IDENTICAL 38.605% STAKE, ALSO REPRESENTING SHARES WITH A NOMINAL VALUE OF ABOUT 28.95 MILLION LIRA

• THE TRANSACTION IS SUBJECT TO THE FULFILMENT OF ALL CLOSING CONDITIONS SET OUT IN THE SHARE PURCHASE AGREEMENT

• DISCLOSURES REGARDING THE MANDATORY TENDER OFFER PROCESS REQUIRED UNDER TURKEY'S COMMUNIQUÉ ON MANDATORY TENDER OFFERS WOULD BE MADE AFTER THE SHARE TRANSFERS ARE COMPLETED AND FINALISED

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