As stated in the Material Event Disclosure made by our Company on 15.05.2025, the Concession Agreement signed between our 100% owned subsidiary Celebi GS Chennai Private Limited (|||CGSC|||) and Chennai International Airport (|||MAA|||) which was valid until 2033, has been unilaterally terminated by MAA on the grounds that it allegedly contradicts national security considerations. The notice regarding this termination was delivered to our subsidiary on 26.05.2025.
Since the beginning of its operations, our subsidiary has never engaged in any activity that would violate national security considerations or relevant legislation in India. Our Company and its subsidiary bear no responsibility for any possible issues, delays, negative impacts on airport operations or civil air traffic disruptions that may arise at Chennai International Airport as a result of the unilateral termination of the Concession Agreement by MAA.
Our Company will pursue all relevant administrative and legal remedies to clarify these unfounded allegations and to reverse this termination.
This development regarding CGSC, as well as the other developments concerning our subsidiaries in India mentioned in the Material Event Disclosure dated 15.05.2025, do not pose a risk to our Company`s financial position, operations or ability to fulfill its obligations.
Should there be any new developments that may materially affect our partnership`s shares, our shareholders will be duly informed.
This Material Disclosure Announcement is prepared in Turkish and in English. In case of any discrepancy between the two versions, Turkish disclosure will prevail.