The Board of Directors of Global Investment Holdings (“GIH” or the “Company”) resolved on April 22nd 2021 to issue 32,411,159,007 ordinary shares, with a nominal value of 1 Kr each, increasing the issued share capital of the Company by 324,111,590.07 TL, from 325,888,409.93 to 650,000,000, which is the upper limit of its registered capital. Such capital increase will be paid in cash.

GIH’s existing shareholders will be able to exercise their pre-emptive rights for the new issued shares at the value of 1.5 TL for 1 lot (100 shares). Remainder of the shares that have not been bought by the by the existing shareholders, will be offered to the public on the Stock Exchange at the price to be set on Borsa Istanbul, which will not be lower than the nominal value, for 2 business days.

Through the capital increase, GIH is taking effective steps to stabilise its liquidity position and manage its long-term debt obligations. This aims to provide the company with a more stable, deleveraged capital structure.

Completion of the capital increase is conditional upon receipt of customary regulatory clearances and approvals from various Turkish governmental authorities, including the Capital Markets Board of Turkey, Borsa Istanbul, Central Registry Agency and Istanbul Settlement and Custody Bank.

Upon the completion of this capital increase in cash, the Board later on to evaluate the usage of the 192,110,841.59 TL, that already exists under internal resources, as share premiums, in addition to share premiums to be obtained from this capital increase in cash, for a possible non-cash capital increase.

SHARE: