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Regarding the administrative fines applied due to the announcement in the Capital Markets Board Bulletin dated November 2, 2023, numbered 2023/67 which stated that "despite not being mentioned in the IPO prospectus, shortly after the IPO prospectus was approved by the Board, the funds were allocated to Margün Enerji Üretim Sanayi ve Ticaret A.Ş. (Margün Enerji), a subsidiary of our company, it is concluded that the information in the IPO prospectus was incorrect, misleading and incomplete". Here is our explanation regarding the imposed administrative fines; In the IPO prospectus approved by the Board and in the fund utilization reports, the absence of information regarding the fact that the investments could also be made through a 100% subsidiary does not conform to the formal requirements, but it has not caused any harm to the investor or any adverse situation for our Company. As our Company and its subsidiaries constitute an integrated whole, conducting transactions through a 100% subsidiary does not have a negative impact on consolidated financial statements. The fines for not disclosing this information in the IPO prospectus and fund utilization reports is due to a formal non-compliance with the decisions of the Capital Markets Board. Although it wasn't explicitly mentioned that a portion of the IPO revenues would be used for investments through a 100% subsidiary, the company's decision to invest a part of the funds through this subsidiary resulted in a 4.288% increase in total assets, a 7.643% increase in equity, a 1.284% increase in revenue, and a significant 22.928% increase in net profit in June 2023 compared to the first half of 2019 when the financial statements related to the public offering were prepared. The rise in our company's equity and total assets, along with the improvements in financial indicators like annual revenue and net profit, show that the investments were used as intended and correctly. Some malicious individuals and organizations in the media and on social media have distorted, manipulated, spread false information, and made false accusations. Our legal team closely monitors these individuals and organizations. Legal action, including civil and criminal lawsuits, will be pursued against those believed to have committed crimes. We will file both financial and moral compensation lawsuits against the individuals and organizations involved in these actions. We will also report the criminal offenses and carefully follow the legal process. It is respectfully announced to the public and our investors. 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. |
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.