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In accordance with the CMB's II-17.1 Communiqué on Corporate Governance for the transactions executed between our company and OPET Petrolcülük A.Ş and Tupras Trading LTD, "The Report Regarding the Common and Continuous Transactions" was prepared and approved at our Company's Board of Directors desicion on March 1, 2021. Conclusion of the report is given below. With respect to Article 10 of Capital Markets Board's (CMB) Declaration, numbered Serial II.17.1, (Declaration), since the ratio of the amount of the common and continuous product sales transactions of our Company with OPET Petrolcülük A.Ş. to the revenue amount, included in the annual financial statements to be publicly disclosed, reaches more than 10%, in 2020 and since the related party transaction is expected to be realized above the limit at the same conditions also in 2021 the conditions of the transactions made with OPET Petrolcülük A.Ş., the price determination method, and the rationale for the selection of this method are explained in this Report, and information is presented on the compliance of the transactions with market conditions. Additionally, since it is expected that ratio of the amount of the common and continuous product sales transactions of our Company with Tupras Trading LTD, a 100% subsidiary of our company, to the revenue amount will reach more than 10% in 2021, the price determination method, and the rationale for the selection of this method are explained in this Report, and information is presented on the compliance of the transactions with market conditions. |
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.