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.
Click here for the Agenda.
At its meeting on 18 March 2021, the Company's Board of Directors made the following decisions.
"Vestel Elektronik Sanayi ve Ticaret AŞ recorded TL 974,308,002 of net profit and has TL 1,620,822,129 of extraordinary reserves and special funds in its 2020 statutory financial statements prepared in accordance with the Turkish Commercial Code and Tax Procedure Law, amounting to TL 2,595,130,131 of total funds available for profit distribution in accordance with the Company's Articles of Association and Dividend Distribution Policy. Accordingly, after setting aside TL 234,396,120 of second legal reserve, the Company's Board of Directors resolved to propose the distribution of TL 2,360,734,011 of gross cash dividends, which corresponds to a gross cash dividend of TL 7.0373 (net cash dividend of TL 5.9818) per share to be distributed in 3 equal installments. The Board of Directors is authorized to determine the distribution dates in accordance with the related regulation, taking into to account the cash projections of the Company. These decisions will be summited to the approval of shareholders at the 2020 Ordinary General Assembly Meeting. "
Click here for the Dividend Distribution Table.
Vestel Elektronik Sanayi ve Ticaret AŞ's Board of Directors took the following decisions at its meeting today:
The management will be authorized to carry out the necessary transactions related with this resolution.
Vestel Elektronik Sanayi ve Ticaret AŞ's Board of Directors took the following decisions at its meeting today:
The management will be authorized to carry out the necessary transactions related with this resolution.
Vestel Elektronik announced consolidated sales revenues of TL 21,546 mn (US$ 3,075 mn) and net profit of TL 1,773 mn (US$ 253 mn) in 2020.
Click here for FY20 CMB financials.
Vestel Elektronik Sanayi ve Ticaret AŞ's Board of Directors decided to authorize the Company's management to carry out the necessary procedures to issue up to TL 750 mn of debt instruments in single or multiple tranches with varying maturities of maximum 5 years. The instruments will be sold to qualified investors and/or private placements in the domestic market and can be issued as all kinds of bonds, convertible bonds, exchangable bonds, commercial papers and other capital market instruments that are debt instruments by their nature and accepted by the Capital Markets Board. Any two member of the Board of Directors who has first degree signature authority is authorized with a joint signature to carry out the necessary transactions, without any monetary limitation, related with this resolution.