A memorandum of understanding ("MoU") has been signed on 14/02/2024 between our subsidiary Alarko Gübre Fabrikaları Sanayi ve Ticaret A.Ş., Ahmet Koç, Sefa Koç, Gimak Denizcilik Limited Şirketi and guarantor Negmar Denizcilik Yatırım A.Ş. with the purpose of acquiring all shares (100%) of Verim Gübre Anonim Şirketi ("Verim Gübre"), provided that determined conditions are satisfied.

Pursuant to the MoU, it is envisaged that a share purchase agreement reflecting the key terms in the MoU will be signed between the parties, on the condition that Verim Gübre acquires all shares (100%) of Sulfert Kimya Sanayi Ticaret Anonim Şirketi ("Sulfert Kimya") and Ege Antrepo Lojistik Limited Şirketi ("Ege Antrepo") and obtains necessary approvals from the Competition Authority and regulatory authorities for the acquisition.

From the companies subject to the MoU, Sulfert Kimya owns approximately 65.000 m² land, including approximately 30,000 m² of fertilizer production facility and warehouses located in the Menemen district of İzmir and a solar power plant (not subject to license) with an installed power of 2.1 MW, Ege Antrepo has an operating permit for warehouse, and Verim Gübre has 25 product registration certificates for different fertilizers in the chemical, organic, organomineral, liquid and powder product groups.

According to the MoU, share purchase price under the share purchase agreement will be determined as Turkish Lira equivalent of USD 38.200.000,00 on the understanding that it will be updated due to certain adjustments.

Further developments will be communicated in due course.

Respectfully announced to the public. 

This statement has been translated into English for information purposes only. In case of any discrepancy between Turkish and English versions of this statement of disclosure, Turkish version shall prevail.