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MARTI HOTELS and MARINAS Secures Up To TRY 59,4 Million From GEM Global Yield Fund

April 4, 2018 Hotel Trends No Comments Email Email

Marti Hotels and Marinas (“MARTI” or “MARTI A.Ş.” or “Company”) has signed a funding facility for an amount of up to TRY[59.4] million under a Share Subscription Facility (“SSF”) and Call Option Agreement, (the “Agreement”) with GEM Global Yield Fund, the private alternative investment group.http://www.seychelles.com/

This maximum amount will be raised from a combination of instruments, TRY45 million from the SSF which shall be applicable for a period of three years and TRY[14.4] million under a call option that can be exercised by GEM Global Yield Fund within a period of three years for [8] million shares, at a price which represents TRY [1.8] per share.

This new Agreement will be used to provide strength to the working capital of the Company.

About MARTI HOTELS and MARINAS

Marti Hotels and Marinas was founded by Narin family in 1967 and has started its operations 50 years ago with the first resort hotel of Turkey called “Marmaris Marti Resort”. As the pioneer company in the sector from the beginning of the operations, Marti has become the first listed Turkish tourism public company under Istanbul Stock Exchange in 1990.

Currently, Marti Hotels and Marinas has 1200 employees and continues its operations with 100% customer satisfaction approach by running 6 hotels with 2300 bed capacity, and a marina with 380 yacht capacity. By having more than 50 years of experience in the sector, Marti Hotels and Marinas aims at carrying its success to the future through new moves and investments as part of its vision.

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