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Hayır (No)
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Our 30% owned subsidiary Shell & Turcas Petrol A.Ş. ("STAŞ") decided to distribute dividends amounting to 200,000,000.00 TL to be covered from retained earnings of the company at its Extraordinary General Assembly Meeting held on 25.03.2024 (Turcas' share is 60,000,000.00 TL on a net basis). 30,000,000.00 TL portion of the related amount has been collected as of 28 March 2024 and the remaining portion amounting to 30,000,000.00 TL is expected to be collected as of 27 June 2024.
In addition, balancing payment of 2023 to be paid by Shell Company of Türkiye Ltd. to our Company as per Balancing Payment Agreement between our Company and Shell Company of Türkiye Ltd. has been calculated as 7.6 Million USD and the related amount has been collected as of 28 March 2024. On top of this collection; payment of preferred dividends amounting to 8 Million USD by STAŞ to our Company with regards to the preferred shares owned by our Company is expected to be collected as of 27 June 2024.
Best regards,
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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.