Global Liman İşletmeleri A.Ş. (“GLI”), a 100% subsidiary of Global Yatırım Holding A.Ş., has informed us today (September 1st, 2015) that it has signed a binding sale and purchase agreement (“SPA”) to purchase 30.79% of shares of Valletta Cruise Port Plc (“VCP” or the “Company”), a Maltese company, which is engaged in cruise port operations and rent-out of office and retail areas in Malta. The successful completion of the transaction is subject to legal and regulatory approvals and the waiver of the pre-emption rights by the remaining shareholders of the Company. The total consideration for the shares will be announced following the successful completion of the conditions precedent.

The Company took over the cruise and ferry terminal operations in Valletta, Malta in 2002 in connection with a 65-year concession agreement which was awarded as a result of an international tender issued by the Government of Malta. The concession also includes a 65-year lease of 48,000 square metres of land and buildings adjacent to the quays. VCP, through its 90% subsidiary Travel Shopping Ltd. also runs duty-free operations in the port. Targeting a total passenger number of around 650,000 in 2015, the Company envisages to increase its home-porting activities parallel to the expected increase in the total number of passengers.

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