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Additional Explanations
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In accordance with article 379 of the Turkish Commercial Code, Article 22 of the Capital Markets Law, Capital Market Board's Communique II-22.1 on Share Buybacks and the decision of the Capital Markets Board dated 14.02.2023; As a result of the effects of the earthquake disaster in our country on the sectors in which we operate and on the Turkish capital markets, it has been evaluated that the value of Yapı ve Kredi Bankası A.Ş. share in Borsa Istanbul does not reflect the actual performance of the Bank; In order to protect the value of our shareholders' investments; by our Bank's Board of Directors resolved to; a) Initiate a share buyback program from the market in accordance with article 10 of the Articles of Association, b) Determine the maximum amount of shares that may be subject to buy-back be 8.500.000.000 with a total nominal value of 85.000.000 TL, c) Determine the maximum amount of funds to be allocated for share buybacks to be 750.000.000 TL, which will be sourced from the current Bank sources, d) Present the buyback program to the information of the first upcoming general assembly of shareholders, e) Carry out the buyback program from the date of this decision until 15.05.2023 and authorize the Head Office in matters related to the buyback program. In contradiction between the Turkish and English versions of this public disclosure, 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.