Zorlu Holding AŞ sold 5,850,000 Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares at a price of TL 24.24 per share on Borsa Istanbul via block sale on October 4, 2021. Following the transaction, the Company's share in Vestel Elektronik declined to 63.70%. Our company commits not to sell any additional Vestel Elektronik shares for 180 days following this transaction.
Within the scope of the restructuring of sales and marketing companies abroad, Vestel UK Limited, which is based in the UK and wholly-owned by Vestel Ticaret AŞ (Vestel Ticaret), a fully-owned subsidiary of Vestel Elektronik, will transfer all its assets, liabilities and operations to Vestel Holland B.V. UK Branch Office, which is established in the UK by Vestel Holland B.V., another wholly-owned subsidiary of Vestel Ticaret. The transfer will take place as of October 1, 2021. Following the transfer, Vestel Holland B.V. UK Branch Office will maintain the existing organizational and ownership structure of Vestel UK Limited and continue the company’s operations. The aforementioned transfer will not affect Vestel Elektronik’s position in the UK market.
Vestel Elektronik Sanayi ve Ticaret AŞ sold 5,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares at a price of TL 46.2 per share on Borsa Istanbul via block sale on September 2, 2021. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 82.53%. Our company commits not to sell any additional Vestel Beyaz Eşya shares for 180 days following this transaction.
The second coupon payment, amounting to TL 21,901,600.00 on the TL 400,000,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 383 days and with the ISIN Code of TRSVSTL32213 was made as of today.
Zorlu Holding AŞ sold 1,600,000 Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares at a price of TL 28.12 per share on Borsa Istanbul on August 10, 2021. Following the transaction, the Company's share in Vestel Elektronik declined to 65.45%.
Vestel Elektronik announced consolidated sales revenues of TL 14,215 mn (US$ 1,809 mn) and net profit of TL 913 mn (US$ 116 mn) in 1H21.
Click here for 1H21 CMB financials.
Vestel Elektronik Sanayi ve Ticaret AŞ signed a Corporate Governance Principles Compliance Rating Agreement with SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri AŞ on August 6, 2021 for the renewal of the Company's corporate governance rating. The term of the agreement is one year.
Vestel Elektronik has announced on February 25, 2021 that the Capital Markets Board had approved the Company's application to issue TL denominated debt instruments up to a nominal value of TL 750 million and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market. Within this scope, the Company completed the sale of a TL 165,000,000 corporate bond with floating coupon payments with a maturity of 367 days to domestic qualified investors on July 30, 2021. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
Vestel Elektronik has announced on February 25, 2021 that the Capital Markets Board had approved the Company's application to issue TL denominated debt instruments up to a nominal value of TL 750 million and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market. Within this scope, the Company completed the sale of a TL 165,000,000 corporate bond with floating coupon payments with a maturity of 367 days to domestic qualified investors on July 30, 2021. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
Pursuant to our material event disclosures dated 08.03.2018, 07.05.2018, 06.07.2018, 04.09.2018, 02.11.2018 and 06.01.2020, the application to cancel the Competition Board's reasoned decision that Vestel Ticaret AŞ, a wholly-owned subsidiary of Vestel Elektronik, had not violated the Article 4 of the Law on the Protection of Competition numbered 4054 and there is no need to impose an administrative fine on the company as per the Article 16 of the same Law has been rejected by the Ankara 4th Administrative Court. The Court's decision can be appealed to the Court of Appeal.