News From GSD Group Companies in 2018
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News From GSD Group Companies in 2018

Capital Increases of GSD Shipping B.V.

At the Board of Directors Meeting of GSD Holding A.Ş. dated 7 May 2018, the share capital of GSD Shipping B.V., fully owned subsidiary of the Company, amounting to USD 20,000,000 has been decided to be increased with USD 10,000,000 to USD 30,000,000 and the authorized share capital amounting to USD 30,000,000 has been decided to be increased to USD 40,000,000 and all the capital paid by GSD Holding A.Ş.

At the Board of Directors Meeting of GSD Holding A.Ş. dated 24 September 2018, the share capital of GSD Shipping B.V., fully owned subsidiary of the Company, amounting to USD 30,000,000 has been decided to be increased with USD 10,000,000 to USD 40,000,000 and the authorized share capital amounting to USD 40,000,000 has been decided to be increased to USD 50,000,000 and all the capital paid by GSD Holding A.Ş.

Property Sale of GSD Yatırım Bankası A.Ş.

The property of GSD Yatırım Bankası A.Ş. acquired from execution for debt in assets held for sale amounting to TL thousand 53,550 sold with an amount of TL thousand 79,216 on 26 March 2018.

Ship Receiving of Mila Maritime Limited

The purchase of one dry cargo ship was completed and delivered on 24 May 2018 to Mila Maritime Ltd. which is established in Malta and 100% capital share subsidiary of GSD Shipping B.V.. Starting from 25 May 2018 Mila Maritime Ltd. rented the dry cargo ship in the form of time charter lease with ship rental contracts and started earning rental income.

Sale of Zeyno Maritime Limited to GSD Shipping B.V.

On 6 June 2018, Zeyno Maritime Ltd. fully owned by GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş. sold to GSD Shipping B.V. ,which is established on 19 October 2016 in Netherlands, with a price determined according to valuation report USD 5.883.290,06.

Sale of Dodo Maritime Limited and Neco Maritime Limited to GSD Shipping B.V.

On 6 December 2018, Dodo Maritime Ltd. and Neco Maritime Ltd. fully owned by GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş., sold GSD Shipping B.V. which is established on 19 October 2016 in Netherlands, with prices determited according to valuation report respectively USD 1,773,000 and USD 5,336,000.

The Share Buy-Back Transactions of GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticari A.Ş.

At the Board of Directors Meeting of GSD Denizcilik Gayrimenkul İnşaat Sanayi ve Ticaret A.Ş. dated 26 July 2016, it has been decided to buy-back shares up to 10% of its paid-in capital in order to protect the investors within the scope of the announcements of the CMB on 21 July 2016 and 25 July 2016, and in this context it has been decided to allocate TL 5,000,000 for the share buy-back.

In 2018, the Company bought back shares with a nominal value of TL 596,059.00 at the price of TL 621,217.51.

As of 11 March 2019, the Company bought back C group shares with a nominal value of TL 3,411,059 at the price of TL 3,222,647.20