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The conclusion part of the Board of Directors' report prepared in accordance with Article 10 of the Corporate Governance Communiqué numbered II-17.1 under the title of Common and Continuous Transactions regarding the fertilizer sales to be made in 2024 to the Central Union of Turkish Agricultural Credit Cooperatives, which is our related party, is presented below for public information. Conclusion of the Valuation Report on the Company's Fertilizer Sales The following conclusions have been reached in the evaluation of the "common and continuous transactions" that Gübre Fabrikaları T.A.Ş. plans to make with its related party the Central Union of Turkish Agricultural Credit Cooperatives in 2024 in terms of compliance with the provisions of the Capital Markets Board's Corporate Governance Communiqué numbered II-17.1; 1. The ratio of the sales planned to be made in 2024 to the Central Union of Turkish Agricultural Credit Cooperatives, one of the related parties of Gübretaş, to the revenue amount of Gübretaş according to the last annual consolidated financial statements disclosed to the public exceeds 10%, therefore, it is necessary to determine whether the conditions determined by the management of our company regarding the planned sales transactions with this related party are in accordance with the market conditions within the framework of the relevant communiqué. 2. Practices such as premiums, discounts, campaigns, etc. in fertilizer sales planned to be made by Gübretaş to the Central Union of Turkish Agricultural Credit Cooperatives are also valid for other buyers, there are no significant price differences between the Central Union of Turkish Agricultural Credit Cooperatives and other buyers in sales, and the minor differences are due to changes in circular prices because of orders on different dates and changes in sales prices in far or near delivery distances. 3. The prices foreseen by Gübretaş for its planned sales to its related party, Central Union of Turkish Agricultural Credit Cooperatives in 2024 are in line with market conditions. Respectfully announced to the public. *This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.