About Public Disclosure Platform Public
Disclosure Platform (PDP) is an electronic system through which electronically
signed notifications required by the capital markets and Borsa Istanbul
regulations are publicly disclosed.
Within the framework of Capital Markets Board of Turkey's (CMB) 'Communiqué Regarding Principles of Submitting Electronically Signed Information, Documents and Notifications to the Public Disclosure Platform', all information and documents to be publicly disclosed must be sent to the PDP. The system is operated and managed by the MKK-Investor and Corporate Governance Servıces Department on a 7/24 basis. The system covers over 700 companies, 1000 investment funds and 3000 users all over Turkey. The system is designed to allow everyone to have access to correct, timely, fair and complete information about the Borsa Istanbul companies, over the world wide web simultaneously and at low costs. Furthermore, PDP serves as an electronic archive which allows easy and low-cost access to historical information. Notifications are submitted to PDP through electronic certificates. Therefore, companies are responsible for keeping a sufficient quantity of valid electronic certificates to allow uninterrupted flow of notifications. Prior to applying the CMB for an initial public offering or for the initial registration of participation certificates, companies or exchange traded funds (ETFs) must apply the electronic certificate provider for electronic certificates. Electronic certificates are a prerequisite for listing / trading on the Borsa Istanbul. In addition to Borsa Istanbul companies and ETFs, investment firms, mutual funds, pension funds, real estate investment funds, venture capital investment funds, foreign funds and portfolio management companies may submit notifications to PDP. Independent audit companies, on the other hand, send the electronically signed financial statements for which independent audit is required, to the relevant company electronically in order to be announced to the public. The system disseminates data on: www.kap.org.tr Also 21 data vendors disseminates KAP data simultaneously. Basic Features of PDP The basic features of PDP are as follows:
Advantages of PDP With respect to notification-senders;
With respect to investors;
With respect to the regulating authorities;>
Types of Notifications Borsa Istanbul companies are required to publicly disclose:
Financial Reporting Corporations apply the International Accounting Standards / International Financial Reporting Standards as approved by the European Union. Within this framework, Turkish Accounting Standards / Turkish Financial Reporting Standards published by the Public Oversight, Accounting and Auditing Standards Authority, in compliance with the adopted standards are applied. Financial reports - Financial reports comprise of financial statements, the board of directors' operating review report and representation letters. Financial reports comprise of financial statements, the board of directors' operating review report and representation letters. Financial statements, on the other hand, comprise of the statement of financial position, comprehensive income statement, cash flow statement and statement of changes in equity and notes to the financial statements. The deadlines for financial reporting are as follows:
Material Events Material events, in general, are defined as events that give rise to insider information and continuous information. Insider information is defined as material information that may influence the value of a capital markets instrument or the decisions of the investors, and that has not yet been disclosed to the public. Continuous information, on the other hand, consists of all other information that must be publicly disclosed in accordance with the CMB's 'Communiqué on Principles Regarding Disclosure of Material Events'. Material events or any changes in the previously disclosed material events must be publicly disclosed immediately upon occurrence or upon becoming known. Other Notifications Other notifications of Borsa Istanbul companies and ETFs fall in the category of other notifications. Mutual Funds' Notifications Within the framework of CMB's related 'Communiqués, disclosure requirements of mutual funds, pension funds, foreign funds, asset finance fund and housing finance fund must be fulfilled via PDP. Borsa Istanbul Companies' Disclosure Obligations and PDP Practices Please, click to download 'Borsa Istanbul Companies' Disclosure Obligations and PDP Practices (PDF)' file |