Kap Notices

Pursuant to the Article 4.2.8 of the Capital Markets Board's Communiqué on Corporate Governance, Vestel Beyaz Eşya has renewed its existing Directors and Officers Liability Policy for one year. The annual insurance limit of the policy does not exceed 25% of the Company's share capital.

Vestel Beyaz Eşya reported TL 13,974 mn of sales revenues and TL 617 mn of net profit for 1Q24.

Click here for the 1Q24 CMB financials.

At its meeting on 10 June 2024, the Board of Directors of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ unanimously resolved by the present votes

• To elect Ms. Ayşegül İldeniz, Independent Board Member, as the Chairperson and Mr. Adnan Yıldırım, Independent Board Member, and Ms. Ayça Ersoy, Investor Relations Manager, as the Committee members to carry out the activities of the Corporate Governance Committee,
• To elect Mr. Adnan Yıldırım, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member, as the Committee member to carry out the activities of the Audit Committee,
• To elect Mr. Adnan Yıldırım, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member, as the Committee member to carry out the activities of the Early Detection of Risk Committee,
• To elect Ms. Ayşegül İldeniz, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member and Mr. Bekir Cem Köksal, Board Member, as the Committee members to carry out the activities of the Strategy, Investment and R&D Committee,
• To elect Mr. Emin Ataç, Independent Board Member, as the Chairperson and Mr. Ergün Güler, CEO of Vestel Group of Companies, as the Committee member to carry out the activities of the Sustainability Committee.

The resolutions of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2023, which was held on May 29, 2024, have been registered by the Istanbul Trade Registry Office.

Within the framework of the decision taken at the Annual General Meeting held on 29.05.2024; the Company’s Board of Directors unanimously resolved to elect Mr. Ahmet Nazif Zorlu as the Chairperson of the Board of Directors and Ms. Ayşegül İldeniz as the Vice Chairperson at its meeting on 29 May 2024.

Pursuant to the material event disclosure dated 24 May 2024, the Board of Directors’ proposal for the selection of PwC Bağımsız Denetim ve SMMM AŞ as the independent audit firm for auditing the Company’s accounts and transactions for the fiscal year 2024 has been accepted at the Company’s Annual General Meeting.

Pursuant to the material event disclosure dated 3 May 2024, the Board of Directors' proposal for dividend distribution for the year 2023 and the date of dividend payment has been accepted at the Company’s Annual General Meeting.

At Vestel Beyaz Eşya ve Ticaret AŞ’s Annual General Meeting for the year 2023, which was held on 29 May 2024 at 12:30 pm at Raffles İstanbul Zorlu Center Levazım Mahallesi Koru Sokak No: 2 Zorlu Center 34340 Beşiktaş/İstanbul, it has been resolved

• To approve the Financial Statements for the fiscal year 2023,
• To acquit the members of the Board of Directors for their activities and transactions in the fiscal year 2023,
• To determine the number of members of the Board of Directors as seven and the term of office of the Board members as one year and to elect Mr. Ahmet Nazif Zorlu, Mr. Olgun Zorlu, Mr. Bekir Cem Köksal and Mr. Mümin Cengiz Ultav as Board Members and Ms. Ayşegül İldeniz, Mr. Adnan Yıldırım and Mr. Emin Ataç as Independent Board Members,
• To pay a monthly net remuneration of TL 80,000 to each Independent Board Member and to make no payment to other Board Members for the year 2024,
• To approve the Board of Directors' proposal dated 03.05.2024 regarding dividend distribution and the date of dividend payment,
• To grant permission to members of the Board of Directors to carry out the activities and transactions specified in Articles 395 and 396 of the Turkish Commercial Code,
• To select PwC Bağımsız Denetim ve SMMM AŞ as the independent audit firm to audit the accounts and transactions of the Company for the fiscal year 2024,
• To set the upper limit for the donations to be made in the period between January 1, 2024 and December 31, 2024 as 1.2% of the Company's earnings before interest, tax, depreciation and amortization (EBITDA) calculated based on the Company’s publicly announced annual financial statements for the year 2023 prepared in accordance with the capital market regulations.

Click here for the minutes of the Annual General Meeting.

Click here for the list of attendees.

According to Article 10 titled "Common and Continuous Transactions" of the Communiqué on Corporate Governance No. II-17.1 of the Capital Markets Board, which was published in the Official Gazette dated January 3, 2014, and numbered 28871, within the scope of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ's ("Company") financial planning for the year 2024; total revenues to be generated from the sale of products to Vestel Ticaret AŞ in 2024 are foreseen to exceed 10% of the Company's revenues in its latest publicly announced annual financial statements. It is concluded that the scope and the terms of the sales transactions are compatible with previous years and are reasonable when compared to market conditions.

The third coupon payment amounting to TL 5,904,050 on the TL 50,000,000 nominally valued corporate bond, which was sold to qualified investors on August 25, 2023 with a maturity of 390 days and trades with the ISIN Code of TRSVEST92410, was made as of today. The interest rate for the fourth coupon payment has been set as 17.8542%.