Due to the loss realized in the financial statements prepared as per the Capital Markets Law and related communiqués, the Board of Directors of Vestel Elektronik decided to propose no dividend payment in the General Assembly for the fiscal year 2012.
The Extraordinary General Assembly Meeting of our Company is going to be held on 27.03.2013 at 10.00 at Zorlu Plaza, 34310 Avcılar/ISTANBUL
Agenda
1 - Opening, homage and election of the Meeting Chair;
2 - Authorization of the Meeting Chair to sign the minutes of the Extraordinary General Meeting;
3 - Discussion and approval of the selection of the independent external auditing firm for the audit of the Company's accounts and transactions for 2013 in accordance with the Capital Markets Law and applicable regulations as well as the Turkish Commercial Act;
4 - Approval of the "Internal Directive on Working Principles and Procedures for General Meetings" drafted pursuant to the Regulations published in the Official Gazette of November 28, 2012 on the Principles and Procedures for General Meetings of Joint-Stock Companies and Presence of Ministry of Customs and Trade Representatives at Such Meetings;
5 - Closing.
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 The agency has simultaneously withdrawn all the ratings.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.