Essas Holding's Major Transformation Strategy for Pegasus Shares

Critical Application from Esas Holding

Esas Holding has made a significant transformation move regarding its subsidiary Pegasus Hava Taşımacılığı A.Ş. (#PGSUS). The company applied to the Capital Markets Board (CMB) requesting that 10% of Pegasus' capital, totaling 50 million TL in nominal value of registered shares, be eligible for trading on Borsa Istanbul.

Compliance with Legal Regulations

It was stated that the application was prepared within the scope of the CMB's VII-128.1 Capital Market Instruments Communiqué, and this process is highlighted as having critical importance from a financing perspective. Esas Holding announced that the specified shares are planned to be used as collateral in a three-year term loan financing.

Trading of Shares and Use of Collateral

For the approval of the "Share Sale Information Form" prepared within the scope of the application, necessary procedures were carried out with the Capital Markets Board on December 26, 2025. This transaction was carried out to be provided as collateral to financial institutions. However, it was emphasized that this arrangement would not hinder the exercise of shareholder rights by Esas Holding.

No Share Sales for Three Years

Esas Holding has stated that after the conversion transactions, the shares expected to be traded will not be sold on or off the exchange for a three-year period. This commitment is part of the company’s objective to protect its financial health and market stability.

Thus, through the transformation of Pegasus shares, Esas Holding aims to secure financing conditions as well as to enhance corporate governance standards. This strategy carries elements that will attract the attention of investors and market analysts.