Kap Notices

Vestel Elektronik Sanayi ve Ticaret AŞ sold 8,500,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares within a price range of TL 10.30 – TL 10.49 per share on Borsa Istanbul via block sale to institutional investors on June 22, 2023. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 79.64%.

Zorlu Holding AŞ sold Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares with a nominal value of TL750,000 at a price of TL43.5 per share via block sale on Borsa Istanbul on June 21, 2023. Following the transaction, the company’s share in Vestel Elektronik declined to 58.25%.

Vestel Elektronik Sanayi ve Ticaret AŞ sold 7,750,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares within a price range of TL 11 – TL 11.2 per share on Borsa Istanbul via block sale to institutional investors on June 13, 2023. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 80.18%.

The resolutions of Vestel Elektronik's Annual General Meeting for the year 2022, which was held on May 31, 2023, have been registered by the Istanbul Trade Registry Office on June 06, 2023.

The CEO of Vestel Group of Companies, Enis Turan Erdoğan will resign from his post due to retirement as of September 1, 2023. He will be replaced by Erdal Haspolat, who is currently serving as the General Manager of Vestel Beyaz Eşya Sanayi ve Ticaret AŞ.

At its meeting on 31 May 2023, the Company's Board of Directors unanimously resolved

1.To elect Ms. Ayşegül İldeniz, Independent Board Member, as the Chairperson and Mr. Elmas Melih Araz, Independent Board Member, and Ms. Serap Mutlu, Investor Relations Director, as the Committee members to carry out the activities of the Corporate Governance Committee,

2.To elect Mr. Elmas Melih Araz, Independent Board Member, as the Chairperson and Mr. Bekir Ağırdır, Independent Board Member, as the Committee member to carry out the activities of the Audit Committee,

3.To elect Mr. Bekir Ağırdır, Independent Board Member, as the Chairperson and Ms. Ayşegül İldeniz, Independent Board Member and Mr. Elmas Melih Araz, Independent Board Member, as the Committee members to carry out the activities of the Early Detection of Risk Committee.

Pursuant to our material event disclosure dated 3 May 2023, the Board of Directors' proposal regarding 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 2023 has been accepted at the Company's Annual General Meeting.

Pursuant to our material event disclosure dated 03 May 2023, the Board of Directors' proposal for not making any profit distribution for the year 2022 has been accepted and approved by the General Assembly.

At Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2022, which was held on 31 May 2023 at 10:00 am at Levent 199 Büyükdere Cad. No: 199 34394 Şişli/Istanbul, it has been resolved

• To approve the Consolidated Financial Statements for the fiscal year 2022,
• To acquit the members of the Board of Directors for their activities and transactions in the fiscal year 2022,
• 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. Ömer Yüngül and Mr. Bekir Cem Köksal as Board Members and Mr. Bekir Ağırdır, Ms. Ayşegül İldeniz and Mr. Elmas Melih Araz as Independent Board Members,
• To pay a monthly net remuneration of TL 60,000 to each Independent Board Member and to make no payment to other Board Members for the year 2023,
• To approve the Board of Directors' proposal for no profit distribution for the year 2022,
• 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 2023,
• To set the upper limit for the donations to be made in the period between January 1, 2023 and December 31, 2023 as 2.4% of the Company's earnings before interest, tax, depreciation and amortization (EBITDA) calculated based on the Company's publicly announced annual consolidated financial statements for the year 2022 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