Kap Notices

In line with the Company's goal to bolster its position in international markets and enhance collaboration with global trademarks, Vestel's wholly-owned subsidiary, Vestel Ticaret AŞ signed a brand licensing agreement with Posco International Corporation on May 20, 2021 for the development, production, sales, marketing and distribution of televisions and household appliances under the license of Daewoo brand in 49 countries including the EU and CIS countries as well as Russia and Turkey. The agreement will become effective on July 1, 2021 and will be valid for ten years. The brand licensing agreement aims to enhance Vestel's competitiveness and branded sales in domestic and export markets.

Since a final agreement was not certain at the stage of the signing of the memorandum of understanding, within the scope of the Capital Markets Board's Communiqué on Material Events Disclosure, the Company's Board of Directors resolved to postpone the public announcement until the signing of a binding agreement in order not to mislead investors and weaken the Company's bargaining position during the process. This disclosure is made as the reason for the postponement has been lifted with the signing of the final agreement.

Pursuant to our material event disclosure dated 25.02.2021, Vestel Elektronik has been notified today that the Capital Markets Board had approved the Company's application to issue debt instruments. The approved issue document is presented in the attachment.

Click for Corporate Bond.

Vestel Elektronik announced consolidated sales revenues of TL 6,201 mn (US$ 841 mn) and net profit of TL 220 mn (US$ 30 mn) in 1Q21.

Click here for 1Q21 CMB financials.

Decisions taken in the Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2020, which was held on April 15, 2021, has been registered by Istanbul Trade Registry Office on April 21, 2021.

Pursuant to our material event disclosures dated 18.03.2021 and 15.04.2021, within the scope of the Article 5 of CMB's Communiqué on Dividends and Board of Directors' dividend distribution proposal which has been approved at the Company's 2020 Annual General Meeting, the distribution dates of the dividends to be distributed in three equal installments have been determined as 30.07.2021, 30.09.2021 and 30.11.2021 by the Board decision dated 22.04.2021.

Decisions taken in the Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2020, which was held on April 15, 2021, has been registered by Istanbul Trade Registry Office on April 21, 2021.

At its meeting on 16.04.2021, the Company's Board of Directors resolved to;

• Appoint Mr. Bekir Ağırdır, Independent Member of the Board, as the Chairman of the Corporate Governance Committee and Mr. Mehmet Emre Zorlu, Board Member, and Ms. Serap Mutlu, Investor Relations Director, as the Committee members,
• Appoint Mr. Elmas Melih Araz, Independent Member of the Board, as the Chairman of the Audit Committee and Mr. Bekir Ağırdır, Independent Member of the Board, as the Committee Member,
• Appoint Mr. Elmas Melih Araz, Independent Member of the Board, as the Chairman of the Early Detection of Risk Committee and Mrs. Selen Zorlu Melik, Board Member, as the Committee Member.

Vestel Elektronik Sanayi ve Ticaret AŞ’s Annual General Meeting for the year 2020 was held on 15 April 2021 at 10:00 am at the address of Levent 199 Büyükdere Caddesi No: 199 34394 Şişli/Istanbul.

Click here for the Minutes of the Meeting.

Click here for the List of Attendees.

Pursuant to our material event disclosure dated 18.03.2021, Board of Directors’ proposal regarding selection of KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ as the independent audit firm for auditing the Company's accounts and transactions in 2021 has been accepted at the Company's 2020 Annual General Meeting.

Pursuant to our material event disclosure dated 18.03.2021, the Board of Directors’ proposal for the distribution of 2020 profit has been accepted at the Company’s 2020 Annual General Meeting.