Ulusoy Electric, Katener Rail Systems Activities on the Asset Assumed

ulusoy electric catenary rail systems handed over the goods
Ulusoy Electric, Katener Rail Systems Activities on the Asset Assumed

Ulusoy Elektrik made its transfer to Ulusoy Rail Systems for catenary rail systems with a cost of TL 2,97 million.

In the statement made to the PDP from the Company, the following information was given:

“With the participation of all the independent members of our Board of Directors and unanimously, sales of a number of assets, including contracts, intellectual property, fixed assets and inventory, which have been determined by our Company, based on the meeting decision dated 18.03.2019 and numbered 7, It was decided to issue a valuation report in accordance with the Capital Markets Board related communiqués in order to transfer it to Ulusoy Raylı Sistemler A.Ş. and determine the transaction price.

In accordance with the Capital Markets legislation, TSKB Gayrimenkul Değerleme A.Ş. has performed a valuation study regarding machinery and equipment. In the appraisal study, Market Approach and Cost Approach methods were used, and as a result of the study, the total of fixed assets (machinery and equipment) belonging to catenary rail systems activities
is determined as 1.300.000 TL (VAT excluded). The summary of the mentioned valuation report is attached to the appendix. The book value of the inventory belonging to the catenary rail activities is recorded as 31.03.2019 TL based on the records of our company dated 1.506.798.

Based on this information, Ulusoy Raylı for a total price of 1.300.000 TL (excluding VAT), including the 1.674.220 TL (excl. Transfer of assets to Sistemler A.Ş. was realized on 2.974.220. The total sales price will be paid in cash and in cash on 12.04.2019. ”

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