Board Resolution regarding Share buy-back
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In accordance with the articles 4 and 5 of the Communique II.22 1 of the Capital Markets Board on Share Buy-back dated 3.1.2014 (“Communique”), for the purpose of avoiding an imminent and severe loss, due to the value of our shares as traded on Borsa Istanbul not reflecting our Company’s real performance of its activities and due to the fact that the loss of value of the shares’ daily weighted average price has surpassed 20% in the last month, it is unanimously resolved to approve that our Company shall buy back its shares on Borsa Istanbul (BIST) until the first General Assembly Meeting to be held pursuant to the provisions of the Communique and by considering Capital Markets Board Press Announcement and Annotation of 21.07.2016, provided that 200.000.000 Turkish Liras in total and as a maximum shall be reserved as a fund and the maximum share amount shall not exceed 36.328.125 shares corresponding to 10% of our Company’s paid-in capital,
It is unanimously resolved to submit; all required information within the scope of the Communique containing the purpose of acquisition, sources used and summary of purchases to the information of the first General Assembly Meeting to be held,
It is unanimously resolved that the process regarding the share buy-back to be started for the purpose of avoiding an imminent and severe loss shall be disclosed as a material event disclosure and the public disclosure obligations according to the Communique shall be satisfied.