ISS, the world's leading provider of corporate governance and proxy voting solutions, increased Vestel Elektronik's corporate governance rating score to 9.09 (90.94%) from 8.83 (88.32%). ISS Corporate Services stated in its report that the rating reflected the very good overall performance of the company regarding its current corporate governance structures as measured against the Principles of the Turkish Capital Markets Board (CMB).
| Sub Categories | Weight | 2012 Grade | 2013 Grade |
| Shareholders | 0.25 | 8.83 (88.39%) | 9.13 (91.38%) |
| Public Disclosure and Transparency | 0.35 | 8.80 (88.02%) | 9.28 (92.87%) |
| Stakeholders | 0.15 | 9.04 (90.40%) | 9.08 (90.85%) |
| Board of Directors | 0.25 | 8.74 (87.41%) | 8.78 (87.85%) |
| Total | 1.00 | 8.83 (88.32%) | 9.09 (90.94%) |
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The Extraordinary General Assembly Meeting of Vestel Elektronik Sanayi ve Ticaret A.Ş was held on 26.12.2012.
Fitch Ratings affirmed Vestel Elektronik's long-term foreign and local currency Issuer Default Ratings (IDR) at "B". The outlooks on both IDRs are stable. The agency has simultaneously withdrawn all the ratings.
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With regards to Fatih Project undertaken by General Directorate of Innovation and Educational Technologies under Ministry of National Education, the contract for the tender for 49,000 units of tablet computers under the pilot phase was signed between Ministry of Transport and Vestel Dijital Üretim Sanayi A.Ş., 99.9% subsidiary of Vestel Elektronik Sanayi ve Ticaret A.Ş. on 04.12.2012. The project’s total contract cost is TL 18,685,000 for 49,000 tablet computers.
Regarding our announcement dated 23.11.2012, the merger of Vestel Dış Ticaret A.Ş with Vestel Dayanıklı Tüketim Malları Pazarlama A.Ş is registered by Istanbul Trade Registry Office as of today. Accordingly, the merger process is completed.
Standard & Poor’s affirmed Vestel Elektronik's the corporate credit rating at "B-", the outlook on the rating is stable.
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The Extraordinary General Assembly Meeting of our Company is going to be held on 26.12.2012 at 11.00 at Zorlu Plaza, 34310 Avcılar/ISTANBUL
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CMB approved the takeover and merger of Vestel Elektronik Sanayi ve Ticaret A.Ş with Vestel Dijital Üretim Sanayi A.Ş in its decision dated 21/11/2012 numbered 40/1267.
Regarding our announcement dated 18.10.2012, in the General Assembly of Vestel Dış Ticaret A.Ş. held on 22.11.2012, the merger of Vestel Dış Ticaret A.Ş with Vestel Dayanıklı Tüketim Malları Pazarlama A.Ş in accordance with the related articles of Turkish Commercial Code and Corporate Tax Law was approved unanimously.
Vestel reported total revenues of US$3,020mn and net loss of US$19mn in 9mth-12.
Click here for 9mth-12 CMB financials.