Copyright © 2025 KAP
Central Securities Depository & Trade Repository of Türkiye
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Additional Explanations | ||||||||||
Pursuant to the resolution of our Company's Board of Directors dated 16/09/2026, it has been resolved that: (1) In accordance with the provisions of the Capital Markets Board's Principle Decision No. i-SPK.22.9 and the Communiqué on Repurchased Shares No. II-22.1, with the aim of protecting the interests of all stakeholders, supporting sound price formation and share price stability, and contributing to long term shareholder value through the cancellation of repurchased shares, buyback transactions regarding our Company's Class B shares traded on Borsa Istanbul, shall be initiated in accordance with the following principles, (2) As of the date of this resolution, the maximum number of shares that may be eligible for repurchase shall be designated as 39,725,600 Class B shares with a total par value of 39,725,600 TL (thirty-nine million seven hundred twenty-five thousand six hundred Turkish Lira), corresponding to 5% of the Company's issued capital; (3) The maximum amount of funds to be allocated for the share buyback transactions shall be determined as 1,000,000,000 TL (one billion Turkish Lira), to be covered from the Company's own resources and cash generated from its operations; (4) Share buyback transactions shall be terminated upon reaching the maximum number of shares subject to buyback; in any event, the share buyback resolution shall be valid for a maximum period of 1 year from the date of this resolution, (5) Share buyback transactions shall be included on the agenda of the next general assembly meeting and presented to the shareholders for their information and approval, (6) Investors shall be informed that the maximum number of shares eligible for the share buyback transactions, the maximum amount of funds to be allocated for these transactions, and the fact that the share buyback resolution shall remain valid for a maximum of one year from the date of this resolution do not constitute a commitment to carry out the share buyback transactions, (7) the Company Management is authorized for the implementation of the share buyback transactions, (8) It is hereby agreed that the Class B shares to be repurchased under this resolution shall, following the completion of the share repurchase transactions, be canceled through a capital reduction that does not require a cash outflow, subject to the completion of the necessary decision, authorization, and approval processes in accordance with Capital Markets Legislation and other relevant legislation; (9) The following explanatations shall be recorded: Company's financial condition, cash generation capacity, balance sheet cash position, capital structure, public float ratio, and trading volume of its shares are evaluated collectively in connection with the cancellation of the repurchased shares, and the practice of canceling repurchased shares is a corporate governance practice widely adopted in international markets that supports transparency, accountability, and effective capital management, and this approach is consistent with the Company's strategy to strengthen its corporate governance in line with international standards and to enhance investor confidence. This is respectfully submitted to the information of the public and our shareholders. This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. | ||||||||||
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.
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