Net Holding (NTHOL) and Net Tourism (NTTUR) merger.

In 2015, a decision was made to merge two of our companies – Net Holding and Net Tourism.

We believe that this merger will help us to eliminate cross-holding pattern that has existed since 1989 and to create one strong parent company. This merger will provide our company with synergies which will lead us to better business performance, financial gains and overall shareholders value in the long term.

During the process, all NTTUR assets will be transferred to the NTHOL balance sheet, thus boosting our company’s goodwill in the market – by increasing the confidence of the shareholders of the merged company and creating a good image among the customers. Also ability to access funds and assets will support our business growth and development.

As a result of this merger process we expect to increase the transparency, efficiency and market cap of our company. Merger process of NTHOL and NTTUR is expected to be completed in the beginning of 2017.