The Board of Directors of SATS Ltd. announced that the company has, on 17 January 2018, incorporated two wholly-owned subsidiaries in Turkey known as SATS Investments Turkey Havacilik Yatirimlari Anonim Sirketi (SATS Investments Turkey) and SATS Food Turkey Gida Hizmetleri Anonim Sirketi (SATS Food Turkey). SATS Investments Turkey is set up primarily to hold the company's investments in Turkey, while SATS Food Turkey is set up primarily to carry out food-related projects in Turkey. The initial issued and paid up share capital of each of SATS Investments Turkey and SATS Food Turkey is TRY 50,000 consisting of 50,000 shares of TRY 1 each.