Board Resolution regarding Share Buy-back (26.03.2020)
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As per the board resolution of our company dated 12 March 2020 which was valid until the first general assembly held after the resolution was taken, our Company executed share buy-back transactions between March 13-20, 2020 and informed the general assembly on the transactions executed.
As the Board of Directors intends to be able to continue to buy back TAV Airports shares if deemed necessary, the Board of Directors has made the following new resolution on March 26,2020:
1- In accordance with relevant articles of the Communique on Buy-Backed Shares II.22 1 of the Capital Market Board dated 3.1.2014 (“Communique”), on the purpose of avoiding an imminent and severe loss to approve that our Company is authorized to 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 the Capital Market 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 be not exceeding 36.328.125 shares corresponding to 10% of our Company’s paid capital,
2- 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 acquisitions for the information of the first General Assembly Meeting to be held,
3- It is unanimously resolved that the process regarding share buy-back to be started on the purpose of avoiding an imminent and severe loss to be disclosed as a material event disclosure and to satisfy the public disclosure obligations according to the Communique.