Aksa Akrilik Decides to Continue Operations of Energy and Support Services as a Separate Entity

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Aksa Akrilik Decides to Continue Operations of Energy and Support Services as a Separate Entity

Forex - Aksa Akrilik (IS:AKSA) has decided to continue its operations as a separate joint-stock company in order to increase the strategic focus and growth potential of its energy and auxiliary services business unit.

The statement published includes the following:

As per the decision of the Company’s Board of Directors: It has been decided that our energy and auxiliary services business unit will continue its operations as a separate joint-stock company in order to enhance its strategic focus and growth potential. To this end, a new company will be established through a partial spin-off, transferring all assets and liabilities of Aksa Akrilik Kimya Sanayii A.Ş., and this new company will be our 100% subsidiary.

In this context, in accordance with Articles 159 to 179 of the Turkish Commercial Code No. 6102 regulating the spin-off procedure, Articles 19 and 20 of the Corporate Tax Law No. 5520, General Communique No. 1 of the Corporate Tax Law, the Capital Markets Board's ("SPK") Communique II-23.2 on Mergers and Divisions, the Trade Registry Regulation, and other relevant legislation:

  1. The sole shareholder of the newly established company will be Aksa Akrilik.
  2. The spin-off transaction will be carried out based on the financial statements dated 30.06.2024, which have been prepared in accordance with the relevant regulations of the SPK and have undergone limited audit.
  3. Since the partial spin-off will be conducted according to the "Facilitated Method with Participation Model" as per the SPK's Communique II-23.2 on Mergers and Divisions, a report from an independent auditor and an expert opinion will not be required.
  4. In accordance with Article 15/ch of the SPK's Communique II-23.3 on "Significant Transactions and Right of Withdrawal," there will be no "Right of Withdrawal" for our shareholders.
  5. Necessary documents such as Announcement Text, Spin-off Plan, Spin-off Report, announcement of the right to review, and all other required documents will be prepared and all necessary legal procedures will be carried out in compliance with relevant Capital Market regulations.
  6. In this scope, all necessary applications and transactions will be conducted with all official and private institutions and organizations, including the Ministry of Trade, SPK, Competition Authority, EPDK, MKK, and Trade Registry Offices.