Within the scope of the verification obligation of the news and rumors set forth under Article 17 of the Communiqué on Material Events Disclosure, it has been deemed useful to make the following statement, regarding the news that appeared in some media channels:
Vestel Elektronik Sanayi ve Ticaret A.Ş. (Vestel), its wholly-owned subsidiary Vestel Ticaret A.Ş. and Vestel's relevant foreign subsidiaries (Vestel Holland B.V., Vestel CIS Ltd., Vestel Trade Ltd., Vestel Electronica S.R.L., Vestel France S.A.S., Vestel Holland B.V. Sucursal En Espana, Vestel Holland B.V. Germany Branch Office and Vestel Holland B.V. UK Branch Office), acting as plaintiffs, have initiated a compensation lawsuit in the amount of EUR 2,053,200,000 arising from the competition laws, against Samsung, LG Group companies, Technicolr S.A., TTD International S.A.S and TDP SP. Z.O.O which are acting as defendants. The Dutch East Brabant Regional Court has rendered a decision whereby it partially accepted and partially rejected our compensation claim. According to the court decision, two defendants (TTD International S.A.S and TDP SP. Z.O.O.) were ordered to pay Vestel a compensation in the amount of EUR 684,400,000; whereas the case was rejected for the other defendants. The decision of the Dutch first instance court and the amounts specified in the court decision have not been finalized yet, and the parties have a right to object to the decision. Our company will exercise its right to appeal against the part of the decision ruled against our company within the legal period.
Vestel Elektronik Sanayi ve Ticaret AŞ and Vestel Beyaz Eşya Sanayi ve Ticaret AŞ signed a collective bargaining agreement with Türk Metal Union today.
Our controlling shareholder Zorlu Holding AŞ (Zorlu Holding) informed our Company that Ömer Yüngül, who has assumed significant roles within Zorlu Group for 27 years and has been serving as the CEO of Zorlu Holding since 2013, will leave his position as of June 21, 2024 due to retirement. Effective as of the same date, Bekir Cem Köksal, who has been serving as the CFO of Zorlu Holding since 2002 and is also a member of the Executive Committee of Vestel Group of Companies and a Board Member at both Vestel Elektronik Sanayi ve Ticaret AŞ and Vestel Beyaz Eşya Sanayi ve Ticaret AŞ, will become the new CEO of Zorlu Holding. Bekir Cem Köksal will also serve as the Deputy CEO of Zorlu Holding from February 1 to June 21, 2024. As of March 1, 2024, Alp Dayı, who currently serves as the CFO of Vestel Group of Companies, will take over the CFO role at Zorlu Holding and Bülent Kiracıoğlu, who is currently the Deputy General Manager of Vestel Finance, will be appointed as the new CFO at Vestel.
The first coupon payment amounting to TL 55,335,700 on the TL 460,000,000 nominally valued commercial paper, which was sold to qualified investors on October 19, 2023 with a maturity of 379 days and trades with the ISIN Code of TRSVSTLK2421, was made as of today. The interest rate for the second coupon payment has been set as 12.0295% (simple annual interest 48.25%).
The first coupon payment amounting to TL 36,296,100 on the TL 300,000,000 nominally valued commercial paper, which was sold to qualified investors on October 3, 2023 with a maturity of 395 days and trades with the ISIN Code of TRSVSTLK2413, was made as of today. The interest rate for the second coupon payment has been set as 11,9672% (simple annual interest 48%).
The Board of Directors of Vestel Elektronik Sanayi ve Ticaret AŞ resolved to establish the following committees in order to assist the Board of Directors in fulfilling its supervisory responsibilities as per the Paragraph 2 of Article 366 of the Turkish Commercial Code.
1- "Strategy and Investments Committee" will be established to operate in the fields of strategy and investments within the framework of its "Working Principles and Procedures" to be prepared and Mr. Elmas Melih Araz will be appointed as the Chairperson and Ms. Ayşegül İldeniz and Mr. Bekir Cem Köksal as the Committee members.
2- "Sustainability Committee" will be established to operate in the field of sustainability within the framework of its "Working Principles and Procedures" to be prepared and Mr. Bekir Ağırdır will be appointed as the Chairperson and Mr. Ergün Güler as the Committee member.
The first coupon payment amounting to TL 59,836,000 on the TL 500,000,000 nominally valued commercial paper, which was sold to qualified investors on September 18, 2023 with a maturity of 283 days and trades with the ISIN Code of TRFVSTL62423, was made as of today. The interest rate for the second coupon payment has been set as 11,9672% (simple annual interest 48%).
Zorlu Holding AŞ sold Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares with a nominal value of TL1,320,000 at a price of TL48.0 per share via block sale on Borsa Istanbul on December 15, 2023. Following the transaction, the company’s share in Vestel Elektronik declined to 55.69%.
The first coupon payment amounting to TL 35,153,700 on the TL 300,000,000 nominally valued commercial paper, which was sold to qualified investors on September 15, 2023 with a maturity of 265 days and trades with the ISIN Code of TRFVSTL62415, was made as of today. The interest rate for the second coupon payment has been set as 11,7179% (simple annual interest 47%).
In line with Vestel's new growth plans and vision to strengthen its global position, the following changes will be implemented in the Company's sales and marketing organization and senior management, effective from December 1, 2023.
Seda Kaya, who joined Vestel Group of Companies in 1997 and has been serving as the General Manager in charge of International Sales at Vestel Ticaret AŞ since 2015, will leave our Company due to retirement.
As a part of Vestel's global brand expansion strategy, a new 'Marketing General Management' organization has been established, covering central brand management, product management, and a consolidated industrial design department. Nezihe Duygu Badem Uylukçuoğlu, who has been working at Vestel Group of Companies since 2010 and is currently the Deputy General Manager of Domestic Marketing, has been appointed as Chief Marketing Officer. Mrs. Uylukçuoğlu holds a bachelor's degree in Tourism Administration and a master's degree in Business Administration from Boğaziçi University. She has also completed Vestel's first MT program.
In line with a more focused and effective growth strategy in global markets, a geographical region-based structure is being introduced in sales operations. In this context;
Seçkin Mazlum Gençoğlu, who has been working at Vestel Group of Companies since 2000 and currently serves as the Deputy General Manager in charge of Product Management for White Goods, has been appointed as Chief Commercial Officer for the EMEA and Americas regions. Mr. Gençoğlu holds a bachelor's degree in Mechanical Engineering from Boğaziçi University and a master's degree in Business Administration from Koç University.
Tarık Hakan Leloğlu, who has been working at Vestel Group of Companies since 1997 and currently holds the position of Deputy General Manager in charge of Dealers and Retail Sales, has been appointed as Chief Commercial Officer for Türkiye, Central Asia, Iran, Iraq, Syria and Northern Cyprus regions. Mr. Leloğlu holds a bachelor's degree in Economics from Anadolu University and a master's degree in Management and Organization from Çukurova University.
Ulaş Özcan, who has been working at Vestel Group of Companies since 1998 and currently serves as the General Manager for Asia Operations, will also assume the role of the Chief Commercial Officer for the APAC region in addition to his existing duties. Mr. Özcan holds a bachelor's degree in Economics from Boğaziçi University.