Kap Notices

Pursuant to our material event disclosure dated 18.03.2021, Board of Directors’ proposal regarding the selection of KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ as the independent audit firm for auditing the Company’s accounts and transactions in 2021 has been accepted at the Company's 2020 Annual General Meeting.

The conclusion section of the "Report on the Common and Continuous Transactions" between Vestel Beyaz Eşya Sanayi ve Ticaret AŞ and its related parties, which was prepared in accordance with the Article 10 of the CMB's II.17.1 Communiqué on Corporate Governance, is provided below:

Within the context of the Company's financial planning for the year 2021:

Total revenues to be generated by Vestel Beyaz Eşya Sanayi ve Ticaret AŞ ("Vestel Beyaz Eşya") from the sale of products to Vestel Ticaret AŞ ("Vestel Ticaret") in 2021 are foreseen to exceed 10% of the Company's revenues reported in its latest annual financial statements. It is concluded that the terms of the sales transactions to Vestel Ticaret are compatible with previous years and are reasonable when compared with the market conditions.

Vestel Elektronik Sanayi ve Ticaret AŞ sold 4,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares at a price of TL 55 per share on Borsa Istanbul on April 12, 2021. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 85.17%.

Pursuant to our material event disclosure dated 15.03.2021 and 02.04.2021, regarding the amendment of Article 6 of our Company's Articles of Association, approved by the Ministry of Trade.

Pursuant to our material event disclosure dated 15.03.2021 and 02.04.2021, regarding the amendment of Article 6 of our Company's Articles of Association, approved by the Ministry of Trade.

Pursuant to our material event disclosure dated 15.03.2021, the approval of the application made to the Capital Markets Board for the amendment of Article 6 of the Company's Articles of Association titled “Company’s Share Capital” was published in the CMB's bulletin dated 01.04.2021 and numbered 2021/17.

Pursuant to our material event disclosure dated 15.03.2021, the approval of the application made to the Capital Markets Board for the amendment of Article 6 of the Company's Articles of Association titled “Company’s Share Capital” was published in the CMB's bulletin dated 01.04.2021 and numbered 2021/17.

• Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's Board of Directors decided to authorize the Company's management to carry out the necessary procedures to issue up to TL 750 mn of debt instruments in single or multiple tranches with varying maturities of maximum 5 years. The instruments will be sold to qualified investors and/or private placements in the domestic market and can be issued as all kinds of bonds, convertible bonds, exchangable bonds, commercial papers and other capital market instruments that are debt instruments by their nature and accepted by the Capital Markets Board. Any two member of the Board of Directors who has first degree signature authority is authorized with a joint signature to carry out the necessary transactions, without any monetary limitation, related with this resolution.

Vestel Beyaz Eşya Sanayi ve Ticaret AŞ’s Board of Directors made the following decision.

Taking into consideration the assessment of the Audit Committee dated 18 March 2021, the Company’s Board of Directors resolved to nominate KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi to audit the Company’s financial reports for the fiscal year 2021 in accordance with the Turkish Commercial Code, the Capital Market Law and related regulations and to carry out the other duties required under these laws and to submit this selection to the approval of shareholders at the Company’s 2020 Annual General Meeting.

Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's Board of Directors made the following decisions.

• Vestel Beyaz Eşya Sanayi ve Ticaret AŞ’s Annual General Meeting for the year 2020 will be held on 15 April 2021 at 12:00 pm at the address of Levent 199 Büyükdere Caddesi No: 199 34394 Şişli/Istanbul in order to discuss and resolve the aforementioned agenda items.
• The Board of Directors is authorized to make the invitation for the Annual General Meeting in accordance with the Company's Articles of Association and related regulations.
• Pursuant to the Capital Markets Board’s Corporate Governance Principles and Communiqués, the agenda item, the documents and the reports to be discussed at the Annual General meeting will be submitted to the information of the shareholders at the Company’s http://vesbe.vestelinvestorrelations.com/ website under the "Information Memorandum for the Annual General Meeting" heading and the Board of Directors is authorized to make the necessary material event disclosures.

Click here for the Agenda.