Kap Notices

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.

Pursuant to our material event disclosures dated 06.06.2024 and 10.06.2024, the issuance and sale of Eurobonds (tap issuance) with a nominal value of USD 50 million to qualified investors outside of Turkey and quoted on the Euronext Dublin Stock Exchange, is completed on June 13, 2024 (today).

At its meeting on 10 June 2024, the Board of Directors of Vestel Elektronik Sanayi ve Ticaret AŞ unanimously resolved by the present votes

• To elect Ms. Ayşegül İldeniz, Independent Board Member, as the Chairperson and Mr. Adnan Yıldırım, Independent Board Member, and Ms. Serap Mutlu, Investor Relations Manager, as the Committee members to carry out the activities of the Corporate Governance Committee,
• To elect Mr. Adnan Yıldırım, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member, as the Committee member to carry out the activities of the Audit Committee,
• To elect Mr. Adnan Yıldırım, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member, as the Committee member to carry out the activities of the Early Detection of Risk Committee,
• To elect Ms. Ayşegül İldeniz, Independent Board Member, as the Chairperson and Mr. Emin Ataç, Independent Board Member and Mr. Bekir Cem Köksal, Board Member, as the Committee members to carry out the activities of the Strategy, Investment and R&D Committee,
• To elect Mr. Emin Ataç, Independent Board Member, as the Chairperson and Mr. Ergün Güler, CEO of Vestel Group of Companies, as the Committee member to carry out the activities of the Sustainability Committee.

The resolutions of Vestel Elektronik Sanayi ve Ticaret AŞ's Annual General Meeting for the year 2023, which was held on May 29, 2024, have been registered by the Istanbul Trade Registry Office.

Pursuant to our material event disclosure dated June 6, 2024, the tranche issuance application regarding the issuance of Eurobond with a nominal value of USD 50 million and 5-year maturity to be sold to qualified investors outside of Turkey by our Company in accordance with the "Regulation S" is approved by the Capital Markets Board on June 10, 2024.

Vestel Elektronik completed the sale of a TL 400,000,000 commercial paper with fixed coupon payment with a maturity of 167 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 55% annual simple. Ak Yatırım Menkul Kıymetler AŞ has acted as the financial intermediary for the issue.

Vestel Elektronik Sanayi ve Ticaret AŞ will undertake a USD 50 million tap issue to its existing USD 450 million Eurobond due 15.05.2029, which was issued to qualified investors abroad within the format of "Regulation S" and "Rule 144A" regulations and currently trades on the Irish Stock Exchange (Euronext Dublin) as announced with the Company's material event disclosures dated 14.03.2024, 19.04.2024, 26.04.2024, 01.05.2024, 08.05.2024, 10.05.2024, 15.05.2024, 16.05.2024 and 03.06.2024. The new bond will have a 5-year maturity, redemption date of May 15, 2029 and a coupon rate of 9.75% and will be placed abroad in accordance with the Regulation S. The issuance is planned to be completed on 13 June 2024 following the approval of the tranche issuance by the Capital Markets Board of Türkiye. JP Morgan Securities plc acted as the Sole Initial Purchaser in this transaction.