Vestel Elektronik Sanayi ve Ticaret AŞ sold 5,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares within a price range of TL 10.57 – TL 10.70 per share on Borsa Istanbul via block sale to institutional investors on June 23, 2023. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 79.33%.
Zorlu Holding AŞ sold Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares with a nominal value of TL546,000 at a price of TL43.5 per share via block sale on Borsa Istanbul on June 22, 2023. Following the transaction, the company’s share in Vestel Elektronik declined to 58.08%.
In line with its smart mobility vision, Vestel Elektronik continues its investments in automotive electronics applications, electric vehicle chargers and battery solutions. The Company's application for the Digital Transformation call under the Technology Oriented Industry Action Programme of the Ministry of Industry and Technology of Türkiye for its automotive investments planned to be undertaken in its existing facilities in Manisa Organized Industrial Zone has been accepted and accordingly, Vestel Elektronik received an investment incentive certificate as of June 2023 for its Automotive Display Solutions and Connectivity Devices project.
The aim of the project is to develop display equipment for in-vehicle infotainment (IVI), automotive boards and mobility products. The duration of the project is 52 months.
The incentives provided under the Investment Incentive Certificate are as follows (Category: Strategic Investments).
a. VAT Exemption and Refund
b. Customs Duty Exemption
c. Corporate Tax Reduction
d. Social Security Premium Employer's Share Support
e. Social Security Premium Employee's Share Support
f. Income Tax Withholding Support
g. Interest or Dividend Support
Vestel Elektronik aims to expand its investments in the automotive sector in line with its evolving customer portfolio and product range.
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.