The first coupon payment amounting to TL 29,282,310 on the TL 270,000,000 nominally valued corporate bond which was sold to qualified investors on February 26, 2025 with a maturity of 401 days and trades with the ISIN Code of TRSVSTL42618, was made as of today. The interest rate for the second coupon payment has been set as 12.4221%.
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 96,910,000 commercial paper with fixed coupon payment with a maturity of 183 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The debt instrument offers an annual simple interest rate of 53%. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
Vestel Elektronik Sanayi ve Ticaret AŞ completed the sale of a TL 35,050,000 corporate bond with floating coupon payment with a maturity of 394 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The interest rate of this instrument is 54,00% annual simple for the first coupon, 54,00% annual simple or the higher of TLREF + 1% (BIST TLREF Index Change + 100 Basis Points Additional Return) for the other coupons. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
TL 675,000,000 nominally valued Commercial Paper, which was sold to qualified investors on November 26, 2024 with a maturity of 182 days and with the ISIN Code of TRFVSTL52515, was redeemed as of today (May 27, 2025) with completion of th coupon payment amounting to TL 168,288,300 and the principal payment of TL 675,000,000.
Within the framework of the decision taken at the Ordinary General Assembly Meeting of our Company held on May 22, 2025 regarding the election of members of the Board of Directors, it was unanimously resolved by the members of the Board of Directors attending the meeting to elect Mr. Ahmet Nazif Zorlu as the Chairperson of the Board of Directors and Mr. Adnan Yıldırım as the Deputy Chairperson of the Board of Directors with the Resolution of the Board of Directors regarding the Distribution of Duties dated May 22, 2025.
At the 2024 fiscal year Ordinary General Assembly Meeting of our Company held on 22 May 2025, the following resolutions were adopted:
At the 2024 fiscal year Ordinary General Assembly Meeting of our Company held on 22.05.2025, it was resolved by the shareholders within the frame of the Board of Directors' proposal dated 25.04.2025 and numbered 2025/20, that while the net loss attributable to the parent company for the 2024 fiscal year amounted to TRY 11,020,692,000 pursuant to the consolidated financial statements prepared in accordance with the relevant legislation and audited by PwC Bağımsız Denetim ve Serbest Muhasebecilik Mali Müşavirlik AŞ, in the standalone financial statements prepared pursuant to the relevant provisions of the Tax Procedure Law No. 213 ("TPL"), the net period loss amounted to TRY 2,851,403,383, and that no dividend distribution shall be made due to the absence of distributable profit in the Company's financial statements.
At the 2024 fiscal year Ordinary General Assembly Meeting of our Company held on 22 May 2025, the amendment to the Articles of Association regarding the revision of the following articles — Article 4 titled "Head Office and Branches of the Company", Article 5 titled "Duration of the Company", Article 6 titled "Company's Capital and Types of Share Certificates", Article 11 titled "Issuance of Debt Instruments", Article 12 titled "Board of Directors", Article 16 titled "Organization of the Board of Directors, Meeting Order and Quorum", Article 17 titled "Main Duties of the Board of Directors", Article 19 titled "Audit and Independent Audit Institution", Article 21 titled "Ordinary and Extraordinary General Assemblies and Decision Quorum", Article 25 titled "Fiscal Year", Article 28 titled "Distribution of Net Profit", Article 30 titled "Amendments of the Articles of Association" and Article 31 titled "Announcements", and the abolition and the removal of Articles 13, 18, 22, 23, 24, 32, and 35 as set forth in the annex, was approved by the General Assembly.
At the 2024 fiscal year Ordinary General Assembly Meeting of our Company held on 22.05.2025, based on the Audit Committee's assessment dated 30.04.2025 regarding the selection of the independent auditor within the frame of the Board of Directors' proposal dated 30.04.2025 and numbered 2025/23, it was resolved that PwC Bağımsız Denetim ve Serbest Muhasebecilik Mali Müşavirlik Anonim Şirketi be appointed as the independent audit firm to audit the Company's consolidated financial statements for the accounting period between 01.01.2025 and 31.12.2025 in accordance with the principles set forth under the Turkish Commercial Code No. 6102 and the Capital Markets Law No. 6362, to perform other related activities within the scope of the applicable regulations under said laws, and to conduct the mandatory sustainability assurance audit of the sustainability reports, which complement the consolidated financial reports, for the periods 01.01.2024–31.12.2024 and 01.01.2025–31.12.2025, to be prepared in accordance with the Turkish Sustainability Reporting Standards, within the scope of the Assurance Engagement Standards issued by the Public Oversight, Accounting and Auditing Standards Authority.
Regarding the news published in some news websites regarding the press statements of Mr. Ömer Yüngül, the CEO of our Group, dated 20.05.2025, it has become necessary to make the following statement within the scope of Article 9 titled " Verification of News and Rumors" of the Capital Markets Board's Communiqué on Material Events numbered II-15.1:
Our Company is duly fulfilling its financial debt repayment obligations in full and on time.
The layoffs subject to the news are limited as part of efforts to enhance operational efficiency, optimize resource utilization and support sustainable growth in line with our Company's strategic objectives, and are carried out within the framework of legal regulations and with full respect for all the legal rights of our employees. As of now, there is no situation that exceeds the materiality thresholds required by the capital markets legislation.
As there is currently no matter on the agenda regarding the sale of our Company's assets, no Board of Directors resolution has been adopted as of today, and our Company has no connection with the news in question. Any potential asset sales will be evaluated, if necessary, on a company-specific basis and within the ordinary course of business.
Within the scope of our Company's revenue policy and regional diversification of revenue, opportunities in the American market are being closely monitored, and our negotiations with potential customers on various collaborations are ongoing. Any developments on the matter will be disclosed to the public fully and in a timely manner.