Related Companies
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[AYGAZ, YKBNK]
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Related Funds
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English
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Hayır (No)
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Hayır (No)
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-
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Hayır (No)
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oda_ExplanationTextBlock|
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The Board of Directors of our subsidiary Koç Finansal Hizmetler A.Ş.(KFS), where we and our subsidiary Aygaz A.Ş. own 84,53% and 3,93% of the shares respectively, resolved to submit to the approval of its general assembly on 13.03.2020, the reduction of its capital by 4.855.600.000 TL, from 6.400.600.000 TL to 1.545.000.000 TL. The general assembly agenda also includes dividend distribution of 334.996.381,74 TL mainly from extraordinary reserves and authorization of KFS management for interim dividend distribution during the year if deemed necessary. After the general assembly approval, the reduction is expected to take place in the first half of 2020, following the necessary announcements to be made in accordance with the Turkish Commercial Code and the registration of the general assembly resolution. The funds from the foreseen capital reduction and dividend distributions are planned to be used in order to satisfy the obligations that have arisen in relation to the transaction on transfer of KFS and Yapı ve Kredi Bankası A.Ş. shares announced in 30.11.2019 and closed in 05.02.2020. 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.
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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.