Pursuant to the Article 4.2.8 of the Capital Markets Board's Communiqué on Corporate Governance, Vestel Elektronik has renewed its existing Directors and Officers Liability Policy for one year. The annual insurance limit of the policy exceeds 25% of the Company's share capital.
In accordance with its Board's decision dated 09.07.2024, Vestel Elektronik Sanayi ve Ticaret AŞ decided to apply to the Capital Markets Board of Türkiye to issue up to TL 3,000,000,000 (three billion Turkish Liras) of TL denominated debt instruments in varying terms up to 5 (five) years, in single or multiple tranches, in the form of sales to qualified investors without being offered to the public.
Vestel Elektronik completed the sale of a TL 360,000,000 commercial paper with fixed coupon payment with a maturity of 139 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The interest rate of this instrument is 52% annual simple. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
TL 550,000,000 nominally valued Corporate Bond, which was sold to qualified investors on March 28, 2024 with a maturity of 98 days and with the ISIN Code of TRFVSTL72414, was redeemed as of today (July 4, 2024) with completion of th coupon payment amounting to TL 85,649,850 and the principal payment of TL 550,000,000.
The third coupon payment amounting to TL 39,222,600 on the TL 300,000,000 nominally valued commercial paper, which was sold to qualified investors on October 3, 2023 with a maturity of 395 days and trades with the ISIN Code of TRSVSTLK2413, was made as of today. The interest rate for the fourth coupon payment has been set as 19.395%.
Vestel Elektronik completed the sale of a TL 500,000,000 commercial paper with fixed coupon payment with a maturity of 55 days to domestic qualified investors, the transfer of the securities to the customer accounts will be completed today. The interest rate of this instrument is 52% annual simple. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.
TL 500,000,000 nominally valued commercial paper, which was sold to qualified investors on September 18, 2023 with a maturity of 283 days and trades with the ISIN Code of TRFVSTL62423, was redeemed as of today (June 27, 2024) with completion of third coupon payment amounting to TL 72,758,500 and the principal payment of TL 500,000,000.
Zorlu Holding AŞ sold Vestel Elektronik Sanayi ve Ticaret AŞ ("Vestel Elektronik") shares with a nominal value of TL6,000,000 at a price of TL80.5 per share via block sale on Borsa Istanbul on June 24, 2024. Following the transaction, the company’s share in Vestel Elektronik declined to 52.77%.
Vestel Elektronik reported TL 26,633 mn of consolidated sales revenues and TL 216 mn of net loss for 1Q24.
Click here for the 1Q24 CMB financials.
Pursuant to our material event disclosure dated 13.06.2024, the proceeds from the USD 50 million tap issuance abroad are transferred to our Company's account.