28 Mar 2008 16:10
Turkiye Is Bankasi28 March 2008 26.03.2008The Sale of Shares in Asmas Agir Sanayi Makinalari A.S Related to our letter dated 14.02.2008 nrs.CY-162 As per the resolution of Board of Directors dated 26.03.2008, Isbank Head Officehas been authorized to sell 97.53% share in Asmas Agir Sanayi Makinalari A.S.with a nominal value of TRY 6,437,003.38 to Turkiye Sise ve Cam Fabrikalari A.S.and/or to its other group company/ies indicated by Sisecam in return for theprice which will be determined after revising the amount of USD 9,753,035proposed as per the financial tables dated 31.07.2007, and according to thechanges in shareholders' equity and financial liabilities at the date of sharetransfer . Isbank Head Office also has been authorized to sign the contract forthe sale and execute the necessary transactions. The following issues are takeninto account in determining the share price: • The valuation of an expert consultancy firm • The financial statements of Asmas Agir Sanayi Makinalari A.S. • The proposals taken during the sale process The sales profit will be determined as the sales price becomes definite. After the finalization of the sale, Isbank will have no direct share in AsmasAgir Sanayi Makinalari A.S. This information is provided by RNS The company news service from the London Stock Exchange