At its meeting held on 10.05.2018; the Company’s Board of Directors resolved to elect Mr. Ahmet Nazif Zorlu as the Chairman of the Board, Mr. Bekir Ağırdır as the Vice Chairman and Mr. Olgun Zorlu, Mrs. Selen Zorlu Melik, Mr. Mehmet Emre Zorlu, Mr. Elmas Melih Araz and Ms. Ayşegül İldeniz as the other members of the Board.
Vestel Elektronik Sanayi ve Ticaret AŞ’s Ordinary General Assembly Meeting for the year 2017 was held on May 9, 2018 at 10:00 am at the address of Raffles İstanbul Zorlu Center, 34340 Beşiktaş/Istanbul.
Click here for the Minutes of the Meeting.
Click here for the List of Attendees.
Pursuant to our material event disclosure dated 11.04.2018, Board of Directors’ proposal for not distributing 2017 profit has been discussed and accepted at the Company’s 2017 Ordinary General Assembly Meeting.
Pursuant to our material event disclosure dated 11.04.2018, Board of Directors’ proposal regarding selection of PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi as the independent audit firm has been accepted at the Ordinary General Assembly Meeting.
Vestel Elektronik announced consolidated sales revenues of TL 3,006 mn (US$ 788 mn) and net loss of TL 30 mn (US$ 8 mn) in 1Q18.
Click here for 1Q18 CMB financials.
Vestel Elektronik Sanayi ve Ticaret AŞ’s Ordinary General Assembly Meeting for the year 2017 will be held to discuss the following agenda items at the address of Raffles İstanbul Zorlu Center, 34340 Beşiktaş/ISTANBUL at 10:00 am on 9 May 2018.
Click here for the Agenda.
Click here for the Invitation.
At its meeting on 11 April 2018, the Company’s Board of Directors took the following decisions.
Vestel Elektronik Sanayi ve Ticaret AŞ recorded TL 55,108,000 of net profit in its consolidated financial statements prepared in compliance with the Turkish Accounting Standards/Turkish Financial Reporting Standards as per the Capital Market Law and related Communiqués and TL 53,197,920.29 of net profit in its statutory financial statements prepared under the Tax Procedure Law.
In accordance with the provisions set forth in the Company’s Profit Distribution Policy; the profit for 2017 is proposed to be added to extraordinary reserves after setting aside the required amount for the first legal reserve and not to be distributed in order to strengthen the Company’s equity and meet the funding requirements for ongoing investments. This proposal will be submitted to the approval of shareholders at the Company’s 2017 Ordinary General Assembly Meeting.
Click here for the Profit Distribution Table.
At its meeting on 11 April 2018, the Company’s Board of Directors took the following decisions.
Taking into consideration the assessment of the Audit Committee dated 11 April 2018, the Company's Board resolved to nominate PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi as the independent auditor for auditing the Company’s financial reports for the fiscal year 2018 inaccordance with the Turkish Commercial Code, the Capital Market Law and related regulations and for carrying out the other duties required under these laws and to submit this selection to the approval of the shareholders at the Company’s 2017 Ordinary General Assembly Meeting.
Pursuant to our material event disclosure dated 26.02.2018, Vestel Elektronik will be granted an incentive for its planned battery factory investment within the scope of Turkish Government’s Project Based Incentive Package, which was announced on April 9,2018 by the Ministry of Economy.
Vestel Elektronik announced consolidated sales revenues of TL 12,101 mn (US$ 3,317 mn) and net profit of TL 55 mn (US$ 15 mn) in 2017.
Click here for FY17 CMB financials.