With the decision of our Board of Directors dated 14.02.2023, the share buyback program initiated within the framework of the Capital Markets Board's ("CMB") Communiqué No. II-22.1 on Buybacked Shares and the Principle Decision No. i-SPK.22.7 (dated 14.02.2023 and numbered 9/177) will automatically conclude on the date of the first general assembly meeting to be held as a result of the CMB's Principle Decision No. i-SPK.22.8 (dated 01.08.2024 and numbered 41/1198).
In this context, with the aim of;
- Ensuring the continuation of our share buybacks in full compliance with current legislation,
- Supporting our Company's shares to be valued at a level close to their fair value,
- Mitigating the potential negative effects of sharp downward price movements in our shares on our investors and the value of our Company in the short term, thus protecting the interests of our shareholders,
- Contributing to a healthy price formation by supporting the stability of our Company's share price,
- Maintaining the interest of our investors in our Company's shares and encourage them to increase the holding duration as one of the tools of our Company's total shareholder return strategy;
Our Company's Board of Directors decided to;
1. Launch a Share Buyback Program covering 3 years as of the date of the first General Assembly Meeting,
2. Allocate a maximum amount subject to buyback as 9,000,000,000 TL to be covered from our Company's cash portfolio,
3. Limit the maximum number of shares to be repurchased to 1.7% of our Company's issued share capital
and present the attached Share Buyback Program Proposal to the approval of the shareholders at the first general assembly meeting to be held.
Respectfully announced to the public.