Vestel Elektronik’s wholly-owned subsidiary Vestel Ticaret AŞ signed an agreement with Crosslee PLC, a UK based company, for the acquisition of the Hostess ve White Knight business trademarks, intellectual property rights, domain names and some equipment related with these trademarks. The registration process for the transfer of the trademarks is completed in the EU while the process continues in some non-EU countries.
Crosslee PLC is among Vestel’s ODM customers and is one of the key players in the UK household appliances market. Vestel expects to further enhance its presence in the UK market with this acquisition.
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 in order not to adversely affect the brand acquisition process and competition condition and not to weaken the Company’s negotiating power during the process. This disclosure is made as the conditions for the postponement decision have ended.
The firsth coupon payment, amounting to TL 1,430,839.05 on the TL 50,066,100 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 372 days and with the ISIN Code of TRSVSTL72110, was made as of today.
The interest rate for the second coupon payment of TL 50,066,100 nominally valued corporate bond, which was sold to qualified investors on July 9, 2020 with a maturity of 372 days and trades with the ISIN Code of TRSVSTL72110, has been set as 3.567%. (simple annual interest 13.9995%)
The first coupon payment amounting to TL 1,531,501.61 on the TL 50,380,000 nominally valued Corporate Bond with the ISIN Code of TRSVSTL72227 was made as of today.
The interest rate for the second 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 3.794%. (simple annual interest 15.2177%).
Zorlu Holding AŞ sold 5,000,000 Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares at a price of TL 17.2 per share on Borsa Istanbul on September 4, 2020 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 70.14%.
Vestel Elektronik Sanayi ve Ticaret AŞ sold 18,365 Vestel Beyaz Eşya Sanayi ve Ticaret AŞ (Vestel Beyaz Eşya) shares within a price range of TL 25.90-26.08 per share on Borsa Istanbul on September 3, 2020. Following the transaction, the Company's share in Vestel Beyaz Eşya declined to 92.53%.
Vestel Elektronik announced consolidated sales revenues of TL 8,355 mn (US$ 1,293 mn) and net profit of TL 600 mn (US$ 93 mn) in 1H20.
Click here for 1H20 CMB financials.
Vestel Elektronik signed a Corporate Governance Principles Compliance Rating Agreement with SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri AŞ on August 7, 2020 for the renewal of the Company's corporate governance rating. The term of the agreement is one year.
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 2020: