Geçgel brothers pay 5 billion lira to TMSF, measures on Astor Enerji partners lifted

Astor Enerji partners Feridun Geçgel and Enver Geçgel made a payment of 5 billion lira (5,000,000,000 TL) to the voluntary return account of the Savings Deposit Insurance Fund (TMSF). The asset freeze and suspension order imposed on them as part of the fund investigation were also lifted.

The Prosecutor's Office decision

The Istanbul Chief Public Prosecutor's Office is conducting investigations into transactions in the capital markets. In its letter, the office said it decided to lift the measures and the suspension order concerning suspects Enver Geçgel and Feridun Geçgel, within the framework of re-examining the evidence underlying the investigation, TMSF notifications, the scope of capital shares and the limits of institutional authority in the acts under investigation.

The letter also referred to an earlier requirement:

Soruşturma kapsamındaki gerçek kişiler ve malen sorumlu şirketlerin mal varlıklarında gerçekleşecek olağan dışı değişimlerin bildirim usulüne bağlanması ve muvazaalı işlemlerin engellenerek Başsavcılığımızdan görüş alınması yönünde yükümlülük getirilmiştir.

Istanbul Chief Public Prosecutor's Office letter

Statement from the company

In a statement to the Public Disclosure Platform, Astor Enerji announced that the measures and freeze order on its main shareholders Feridun Geçgel and Enver Geçgel were lifted as of today. The information that the decision was taken by the Istanbul Chief Public Prosecutor's Office was relayed to Astor Enerji by the company's partners. The investigation into the Geçgel brothers continues.

Astor Enerji shares (ASTOR) ended the day on 23 October down 4.9 percent at 142.6 TL.