The Annual General Assembly of our Company, which took place on 30.09.2015 and where 2014 Operations and Financials as well as the amendment of 6.and 10.clauses of the Articles of Association were discussed, and approved at AGM, has been registered with the Istanbul Trade Registry.

Necessary notification has been given to the Central Securities Depository of Turkey (Merkezi Kayıt Kurulusu, MKK) as the last step of the capital decrease process (share buy back) with regards to the cancellation of 1.071.192.245 shares with a nominal value of 10.711.922,45 TL, corresponding to 5,24% of the issued share capital. This cancellation / redemption will be completed by our Company on 27.10.2015 with the Central Registry System.

Within the context of the capital decrease, only 1.071.192.245 shares with a nominal value of 10.711.922,45 TL, will be cancelled /redeemed out of the share buyback program therefore increasing the NAV per share  by 5,24pct for each share held.

The share price of the Company is expected to be adjusted by BIST (upward adjustment) on the day of cancellation (27.10.2015), to reflect the decrease in the outstanding number of shares. Accordingly, in line with its dividend policy, the cancellation process implies a dividend equivalent yield of c.5.5%, calculated at the current market capitalization (26.10.2015) of the Company.

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