6-K
D-MARKET Electronic Services & Trading (HEPS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Date of Report: July 26, 2022
Commission File Number: 001-40553
D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi
(Exact Name of registrant as specified in its charter)
D-MARKET ElectronicServices & Trading
(Translation of Registrant‘s Name into English)
Kuştepe Mahallesi Mecidiyeköy Yolu
Cadde no: 12 Kule 2 K2
Istanbul, Turkey
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| D-MARKET ELECTRONIC SERVICES & TRADING | ||
|---|---|---|
| July 26, 2022 | By: | /s/ MEHMET MURAT EMIRDAĞ |
| Name: | Mehmet Murat Emirdağ | |
| Title: | Chief Executive Officer | |
| By: | /s/ HALIL KORHAN ÖZ | |
| --- | --- | |
| Name: | Halil Korhan Öz | |
| Title: | Chief Financial Officer |
EXHIBITS
| Exhibit | Title |
|---|---|
| 99.1 | Press release of D-MARKET Electronic Services & Trading dated July 26,<br> 2022 announcing the receipt of a Nasdaq notification |
Exhibit 99.1
Hepsiburada Receives Nasdaq Notification RegardingMinimum Bid Price Requirement
ISTANBUL, July 26, 2022 - D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQ: HEPS), a leading Turkish e-commerce platform (“Hepsiburada” or the “Company”), announces that on July 22, 2022 it received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for the Company‘s American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had closed below the minimum bid price requirement (“Minimum Bid Requirement”) of US$1.00 per share under the Nasdaq Listing Rules (the “Listing Rules”). Based on the closing bid price of the Company’s ADSs for the last 30 consecutive business days, the Company has failed to meet the Minimum Bid Requirement for continued listing on the Nasdaq Global Select Market set forth in Listing Rule 5450(a)(1) during that period. The Notice is only a notification that the Company is not in compliance with the Minimum Bid Requirement, it is not a notice of imminent delisting, and it has no immediate effect on the listing or trading of the Company’s ADSs on the Nasdaq Global Select Market.
Pursuant to Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of the Notice, or January 18, 2023, to regain compliance with the Minimum Bid Requirement, during which time the ADSs will continue to trade on the Nasdaq Global Select Market. The Company may regain compliance with the Minimum Bid Requirement if at any time before January 18, 2023, the bid price of the ADSs closes at or above US$1.00 per ADS for a minimum of 10 consecutive business days.
The Company’s business operations are not affected by the Nasdaq notification letter. The Company will consider any measures necessary in order to regain compliance with the Minimum Bid Requirement.
This announcement is made in compliance with Listing Rule 5810(b), which requires disclosure of receipt of a Minimum Bid Requirement notification within four business days.
About Hepsiburada
Hepsiburada is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to our customers' everyday needs and to help make people's daily lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through our embedded digital wallet, Hepsipay. As at the end of March 2022, we had seamlessly connected 44.2 million members and 82.9 thousand Active Merchants.
Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, we are committed to meaningful action to empower women. Through our 'Technology Empowerment for Women Entrepreneurs' programme, we have reached over 32 thousand female entrepreneurs across Turkey to date.
InvestorRelations Contact
ir@hepsiburada.com
MediaContact
corporatecommunications@hepsiburada.com
hepsiburada@brunswickgroup.com