Kap Notices

The conclusion section of the "Report on the Common and Continuous Transactions" between the Company (including consolidated subsidiaries) and its related parties, which was prepared in accordance with the Article 10 of the CMB's II.17.1 Communiqué on Corporate Governance, is provided below :

Within the context of the Company's financial planning for the year 2021:

• Total revenues to be generated by Vestel Elektronik Sanayi ve Ticaret AŞ ("Company") and its subsidiary Vestel Beyaz Eşya Sanayi ve Ticaret AŞ ("Vestel Beyaz Eşya") from the sale of products to Vestel Ticaret AŞ ("Vestel Ticaret") in 2021 are foreseen to exceed 10% of the Company's revenues reported in its latest annual consolidated financial statements. It is concluded that the terms of the sales transactions to Vestel Ticaret are compatible with previous years and are reasonable when compared with the market conditions,
• Total amount of raw material purchases to be made by Vestel Elektronik and its subsidiaries Vestel Beyaz Eşya and Vestel Ticaret from Vestel Holland B.V. in 2021 within the context of common and continuous raw material procurement transactions, are foreseen to exceed 10% of the Company's cost of sales reported in its latest annual consolidated financial statements. It is concluded that the terms of the purchase transactions with Vestel Holland B.V. are compatible with previous years and are reasonable when compared with the market conditions.

Vestel Elektronik Sanayi ve Ticaret AŞ sold 4,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ shares at a price of TL 55 per share on Borsa Istanbul on April 12, 2021. Following the transaction, the Company's share in Vestel Beyaz Eşya Sanayi ve Ticaret AŞ declined to 85.17%.

The third coupon payment, amounting to TL 2,122,912.43, on the TL 50,380,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 728 days and with the ISIN Code of TRSVSTL72227 was made as of today.

Pursuant to our material event disclosure dated 15.03.2021 and 23.03.2021, regarding the amendment of Article 6 of our Company's Articles of Association, approved by the Ministry of Trade.

The interest rate for the fourth coupon payment of TL 50,380,000 nominally valued corporate bond, which was sold to qualified investors on July 9, 2020 with a maturity of 728 days and trades with the ISIN Code of TRSVSTL72227, has been set as 5.0670%. (simple annual interest 20.3236%)

Zorlu Holding AŞ sold 1,000,000 Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares at a price of TL 36.5 per share on Borsa Istanbul on March 31, 2021 with the aim of increasing the liquidity in the shares, expanding the institutional investor base and thereby ensure that Vestel Elektronik is included in the leading stock market indices at home and abroad. Following the transaction, the Company's share in Vestel Elektronik declined to 66.21%.

Pursuant to our material event disclosure dated 15.03.2021 and 23.03.2021, regarding the amendment of Article 6 of our Company's Articles of Association, approved by the Ministry of Trade.

Pursuant to our material event disclosure dated 15.03.2021, Capital Markets Board has approved Vestel Elektronik's application to obtain the required permission to amend the Article 6 of the Company's Articles of Association.

Vestel Elektronik Sanayi ve Ticaret AŞ's Board of Directors made the following decision.

Taking into consideration the assessment of the Audit Committee dated 18 March 2021, the Company's Board of Directors resolved to nominate KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi to audit the Company's financial reports for the fiscal year 2021 in accordance with the Turkish Commercial Code, the Capital Market Law and related regulations and to carry out the other duties required under these laws and to submit this selection to the approval of shareholders at the Company's 2020 Annual General Meeting.

Vestel Elektronik Sanayi ve Ticaret AŞ's Board of Directors made the following decisions.

• Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2020 will be held on 15 April 2021 at 10:00 pm at the address of Levent 199 Büyükdere Caddesi No: 199 34394 Şişli/Istanbul in order to discuss and resolve the aforementioned agenda items.
• The Board of Directors is authorized to make the invitation for the Annual General Meeting in accordance with the Company's Articles of Association and related regulations.
• Pursuant to the Capital Markets Board’s Corporate Governance Principles and Communiqués, the agenda item, the documents and the reports to be discussed at the Annual General meeting will be submitted to the information of the shareholders at the Company’s www.vestelinvestorrelations.com website under the "Information Memorandum for the Annual General Meeting" heading and the Board of Directors is authorized to make the necessary material event disclosures.

Click here for the Agenda.