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Additional Explanations
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Our Company's Board of Directors has made the following decisions; As a result of the developing marketplace, market conditions, the effects of global economic developments on the sector in which we operate and their reflections on the Turkish capital markets, Arçelik A.Ş.'s market capitalization in Borsa İstanbul has been evaluated as not reflecting the actual performance of the Company's activities, therefore in order to contribute to the formation of healthy prices; · Initiating of buy-back Company shares on the Stock Exchange with respect to the announcements made by the Capital Markets Board of Turkey on 21.07.2016, 25.07.2016 & 23.03.2020. · To determine the maximum number of shares, which may be subject to the buy-back, as TL67,572,820.50.- nominal (6,757,282,050 shares at a nominal value of 1 kuruş each), corresponding to 10% of the Company's issued capital. · To determine the maximum amount of funds to be allocated for the share buy-back as TL2,400,000,000, · By taking the buy-back process to be carried out on the agenda of the first general assembly meeting to be held and submitted to the information and approval of the shareholders at the general assembly,
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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.