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Amount and Rate of Cash Dividend Payment
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Cash Dividend Payment Dates
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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According to the enclosed dividend distribution table about the financial statements for the accounting period 01.01.2017 and 31.12.2017, in compliance with the TAS/TFRS and statutory results, prepared by Turkish Petroleum Refineries Corporation, and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. , our proposal for profit distribution has been explained as follows;
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DIVIDEND DISTRIBUTION TABLE
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TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş. 01.01.2017/31.12.2017 Period Dividend Payment Table (TL)
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Dividend Rates Table
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Dividend Payment Table Explanation
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According to the enclosed dividend distribution table about the financial statements for the accounting period 01.01.2017 and 31.12.2017, in compliance with the TAS/TFRS and statutory results, prepared by Turkish Petroleum Refineries Corporation, and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. our proposal for profit distribution has been explained as follows; A) Pursuant to Article 519 of the Turkish Commercial Code, 5% Legal Reserve to be set aside but since as of December 31st 2017, capital reserves already exceeds 20% of equity, 5% Legal Reserve was not set aside in the current year. According to the Capital Markets Law and Capital Markets Board Regulations, consolidated net income, attributable to equity holders of the parent company is in the amount of TL 3,811,546,000.00 and when donations of 27,406,755.38 TL to charitable organisations are added, the first assessment base for dividend is 3,838,952,755.38 TL. According to the statutory records, it was realized that TL 3,715,044,558.44 of net distributable profit exists B) In accordance with the Capital Market Law, Capital Market Board Regulations, Company's Articles of Association and Dividend Distribution policy of our company, as per enclosed dividend distribution table, the following profit distribution is proposed; 3,406,452,377.60 - TL to be distributed as first dividend to shareholders 339,393,141.76 - TL to be put aside as II. Class Legal Reserve, C) The total amount of dividend of TL 3,406,452,377.60 will be paid in cash. D) If the above mentioned dividend distribution proposal is approved by the general assembly, on the basis of statutory accounts, the amount to be distributed is TL 3,406,452,377.60 as cash, of which TL 3,378,451,504.04 is from other earnings of the current period and TL 28,000,873.56 is from distributable other reserves. Secondary legal reserves with a value of 339,393,141.76 of which 336,593,054.40 will be funded from current year earnings and remaining TL 2,800,087.36 will be funded from distributable other reserves. E) On this basis, a cash dividend of gross=net 13,603 TL is to be paid for one nominal stock worth 1.00 TL at a rate of 1,360.3% to our legally obligated corporate taxpayer shareholders and limited corporate taxpayer shareholders earning dividends through a Turkey-based business or permanent representation office. Other shareholders are going to be paid a gross rate of 1,360.3%, a cash dividend of gross 13.603 TL, and net rate of 1,156.255%, a cash dividend of net TL 11.56255 for one nominal stock worth 1.00 TL The dividend distribution is set to begin on March 29, 2018. The dividend distribution proposal will be submitted to General Assembly that will be held in March 21, 2018.
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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.