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Cash Dividend Payment Amount and Rates
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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Board of Directors of Vestel Elektronik Sanayi ve Ticaret Anonim Şirketi made the following resolution:
Vestel Elektronik Sanayi ve Ticaret AŞ recorded TL 1,895,487,000 of net profit in its consolidated financial statements prepared within the framework of the Communiqué on the Principles of Financial Reporting in Capital Markets numbered II-14.1 and in compliance with the Turkish Accounting Standards/Turkish Financial Reporting Standards and audited by KPMG Bağımsız Denetim ve Serbest Muhasebecilik Mali Müşavirlik AŞ, and TL 2,600,478,781 of net profit in its statutory financial statements prepared in accordance with the Turkish Commercial Code and Tax Procedure Law with Number 213.
Taking into account the conditions set forth in the Company's Dividend Distribution Policy; the Board resolved to propose not to make any profit distribution and to add the profit amounting to TL 2,104,155,380 to extraordinary reserves after setting aside the required amount of TL 496,323,401 for the special reserves as per the Article 5/1-e of the Corporate Tax Law with Number 5520 and in order to strengthen the financial structure of the Company and not to create an additional funding requirement considering the current economic outlook, the long term strategies, the liquidity, investment and financing policies of the Company as well as to protect the long term interests of the shareholders, employees and the Company. This proposal will be submitted to the approval of shareholders at the Company's 2021 Annual General Meeting.
This statement was 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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DIVIDEND DISTRIBUTION TABLE
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VESTEL ELEKTRONİK SANAYİ VE TİCARET A.Ş. 01.01.2021/31.12.2021 Period Dividend Payment Table (TL)
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Dividend Rate Table Explanations
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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.