Recent Developments In Tender Offers

The Communiqué Amending the Communiqué on Tender Offers No. II-26.1 (II-26.1.ç) ("New Communiqué"), the draft of which was published by the Capital Markets Board (the "Board") on 1 February 2021 on its official website, entered into force on 16 October 2021 through publication in the Official Gazette.

1. Persons Benefiting from Tender Offers

With the New Communiqué, persons who will benefit from tender offers are limited to the shareholders of the target company at the date of the disclosure of the acquisition of the shares or voting rights triggering the tender offer. In that respect, a list showing the shareholders who are entitled to benefit from the tender offer and the amount of shares that they hold in the target company shall be shared by the Central Registry Agency one business day prior to the commencement date of the tender offer.