Kap Notices

Vestel Elektronik has announced on March 20, 2020 that the Capital Markets Board had approved the Company's application to issue debt instruments up to a nominal value of TL 750 mn 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 50,066,100 corporate green bond with floating coupon payments with a maturity of 372 days to domestic qualified investors on July 9, 2020. Garanti Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue. The "Second Party Opinion" for the "Green Bond" issuance obtained from Vigeo Eiris with the best evaluation and the "Green Bond Framework" prepared in this context are provided in the attachment.

Vestel Elektronik has announced on March 20, 2020 that the Capital Markets Board had approved the Company's application to issue debt instruments up to a nominal value of TL 750 mn 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 50,380,000 corporate green bond with floating coupon payments with a maturity of 728 days to domestic qualified investors on July 9, 2020. Garanti Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue. The "Second Party Opinion" for the "Green Bond" issuance obtained from Vigeo Eiris with the best evaluation and the "Green Bond Framework" prepared in this context are provided in the attachment.

The amendment of the Articles of Association regarding the extension of the validity period of registered capital ceiling has been registered by Istanbul Trade Registry Office on July 7, 2020.

Decisions taken in the Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2019, which was held on June 30, 2020, has been registered by Istanbul Trade Registry Office on July 7, 2020.

At its meeting on 30.06.2020, 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.

Pursuant to our material event disclosure dated 03.06.2020, the Board of Directors’ proposal for not distributing 2019 profit has been discussed and accepted at the Company’s 2019 Annual General Meeting.

Pursuant to our material event disclosure dated 03.06.2020, Board of Directors’ proposal regarding selection of KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ as the independent audit firm has been accepted at the Company's 2019 Annual General Meeting.

Vestel Elektronik Sanayi ve Ticaret AŞ’s Annual General Meeting for the year 2019 was held on 30 June 2020 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.

Standard & Poor's Global Ratings withdrew its credit rating on Vestel Elektronik Sanayi ve Ticaret AŞ as of 29.06.2020, at the Company's request.

Vestel Elektronik Sanayi ve Ticaret AŞ sold 5,000,000 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ ("Vestel Beyaz Eşya") shares at a price of TL 23.38 per share on Borsa Istanbul on June 29, 2020 with the aim of increasing the liquidity in the shares, improving the investability of the stock for investors and for expanding the institutional investor base. Following the transaction, the Company's share in Vestel Beyaz Eşya declined to 92.54%.