Due to the reason that each share must have a minimum nominal value of 1 Kurus in accordance with the Law nr. 5274 related to changing the Turkish Commercial Code, 20 of the Group (A) shares, each of which previously had a nominal value of TL 500 were grouped together as per the Extraordinary General Meeting dated 25.07.2007, and new Group (A) shares were composed, each with a nominal value of 1 Kurus. Group (A) shares each with a nominal value of 1 Kurus (the old Group A shares: TL 500) have the privileges of;
- receiving shares as times 20, in the distribution of bonus shares issued from conversion of extraordinary reserves and revaluation funds generated in accordance with the relevant laws (Article 18 of the Articles of Incorporation)
- exercising pre-emptive rights as times 20 (Article 19 of the Articles of Incorporation)
- 20 shares of voting rights (Article 49 of the Articles of Incorporation)
Despite having a lower nominal value, Group (B) shares, each with a nominal value of 1 Kurus, have the same rights with the Group (C) shares, each with a nominal value of 4 Kurus. Furthermore, Group (A) and (B) shares, each with a nominal value of 1 Kurus, have priority rights in distribution of profits pursuant to Article 58 of our Articles of Incorporation.
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