With regards to Fatih Project undertaken by General Directorate of Innovation and Educational Technologies under Ministry of National Education, Vestel Dijital Üretim Sanayi A.Ş., 99.9% subsidiary of Vestel Elektronik Sanayi ve Ticaret A.Ş., made the best offer for the tender for 49,000 units of tablet computers under the pilot phase. The Company is waiting for the invitation to sign the official contract. The developments on this issue will be announced publicly when they become certain.
In accordance with Turkish Commercial Code numbered 6102 Article 428 it is required from our shareholders to send the identity information of institutional representatives - if any they will suggest - whom will vote and take other necessary actions on behalf of them at the Extraordinary General Meeting of our Company which is planned to be held in December and to send the addresses, email addresses and telephone and fax numbers which institutional representatives can be reached at within maximum seven days beginning from the date of this announcement. Furthermore, individuals who are willing to be institutional representatives are required to apply to our Company within the same period of time.
The individuals who are suggested as institutional representatives and their contact information will be also announced in the Extraordinary General Meeting invitation announcement and published on our Company’s web-site.
Vestel Elektronik Sanayi ve Ticaret A.Ş.
Contact information:
Address: Zorlu Plaza, 34310 Avcılar/İstanbul
Telephone: 212-456 20 66
Fax: 212-422 01 14
Vestel Elektronik’s 99.2% subsidiary Vestel Dış Ticaret A.Ş. and 100% subsidiary Vestel Dayanıklı Tüketim Malları Pazarlama A.Ş. decided to merge through takeover of Vestel Dayanıklı Tüketim Malları Pazarlama A.Ş. by Vestel Dış Ticaret A.Ş. in accordance with the related articles of Turkish Commercial Code and Corporate Tax Law and to start necessary legal actions accordingly.
The transaction should base on 30.06.2012 financials.
In accordance with the related articles of Capital Market Law, Turkish Commercial Code and Corporate Tax Law, the Board of Directors of Vestel Elektronik Sanayi ve Ticaret A.Ş decided to takeover and merge with Vestel Dijital Üretim Sanayi A.Ş in which the Company has 99.9% stake and necessary legal actions to be started accordingly.
Vestel reported total revenues of US$2,130mn and net profit of US$1.8mn in 1H12.
Click here for 1H12 CMB financials.
Moody's upgraded the rating of Vestel Elektronik from "B3" to "B2", the outlook on the ratings is stable.
Click here for the press release.
Due to the loss realized in the in financial statements being prepared according to the Capital Markets Law and related communiqués, the Board of Directors of Vestel Elektronik decided to propose no dividend payment (from 2011 earnings) to the General Assembly.
Vestel reported total revenues of US$1,000mn and net profit of US$9mn in 1Q12.
Click here for 1Q12 CMB financials.
US$86.4mn of US$225mn of bonds remaining after the previous cancellation of US$138.6mn portion purchased by the Company from the OTC Market expired as of 9 May 2012. The bonds at the amount of US$225mn were originally issued by Vestel Electronic Finance Ltd. on 9 May 2005. The payment was realised through the liquid assets of the Company.