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İzzet Karaca had been appointed as an independent Board Member of our Company for the first time on December 03, 2013. For the last time, Mr. Karaca was re-elected in our Ordinary General Assembly Meeting held on April 30, 2019, to serve for one more year until the next Ordinary General Assembly Meeting to be held. However, Mr. Karaca's 6-year term of office expires on December 03, 2019 as required per Article 4.3.6/g of the Corporate Governance Communique (II -17.1).
Regarding the selection of a new Board Member replacing Mr. Karaca effective from this date which is to be approved in the next General Assembly of our company, our assessment is that appointing a short-term Board Member would not yield a margnal benefit in terms of Corporate Governance principles considering Mr. Karaca's experience in independent Board Membership. Thus, after receiving Capital Market Board's consent, no new Independent Board Member was appointed and İzzet Karaca's term of office as an independent Board Member has been prolonged until the 2019 Ordinary General Assembly Meeting of our company which will be held in 2020 |
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.