Main Navigation Section Navigation Main Content
Please enter minimum 3 characters

Disclosure Policy

Based on the principles of transparency and accuracy, the company’s Disclosure Policy has been developed for public disclosure with the purpose of ensuring that the shareholders and stakeholders follow the company’s developments in an equal and impartial manner.

The company complies with the Capital Market Law (CML) and the regulations of the Capital Markets Board of Turkey (CMB) and the Borsa Istanbul (BIST) on public disclosure. Additionally, the company is attentive to implementing the CMB’s Corporate Governance Principles.

The Board of Directors is responsible for preparing, disclosing to public, tracking, reviewing and improving the Disclosure Policy. The Corporate Governance Committee informs the Board of Directors, the Audit Committee, the CEO and the Financial Affairs Department on issues that relate to the Disclosure Policy.

The Investor Relations Unit is responsible for the oversight of the Disclosure Policy.

The stakeholders and institutions that shall be informed in relation to the Disclosure Policy are:

  • Existing investors
  • Potential investors
  • Stakeholders
  • Regulatory bodies
  • The public

Disclosure Tools

The Disclosure Policy is carried out by means of the tools listed below:

  • Web Site
  • Annual report
  • Meetings with investors
  • Special Situation Announcement Form (BIST)
  • Media and press releases
  • Trade Registry Gazette and other newspapers
  • News channels (Reuters, AP, Bloomberg, Forex and so on)
  • Communication tools such as electronic mail and so on
  • Telephone, fax and so on

Responsibility

The individuals and units responsible for providing notifications are:

  • The Board of Directors
  • The Audit Committee
  • The Corporate Governance Committee
  • CEO
  • Chief Financial Officer
  • Manager of Investor Relations

Disclosure Topics

The following items shall be disclosed:

  • Annual reports, financial statements and their footnotes, independent audit reports and the dividend distribution policy are communicated to investors, the public, stakeholders and regulatory institutions through the company web site and other distribution channels.
  • Meetings, road shows and analysts meetings are organized to inform investors, creditors, analysts and shareholders. The members of the Board of Directors, the CEO, the Director of Finance, the Investor Relations Unit and auditors attend these meetings. These meetings are organized at least once a year and following the release of financial statements.
  • Any information related to the Ordinary General Assembly is made available to the public at the company headquarters or branches and the company’s web site at least three weeks in advance.
  • Financial statements and the independent audit report are announced to the public quarterly via the web site.
  • In the event of special situations that are defined by the CMB’s Communique No:54 Series: VIII, “Guidelines for the Disclosure of Special Situations to the Public,” related disclosures are made to the BIST.
  • The Investor Relations Unit plans and coordinates the meetings between the members of the Board of Directors and the printed media. In the event that the share value of the company may be affected, the press meetings are only organized upon unanimous decision by the members of the Board of Directors and held within the knowledge of the Investor Relations Unit.
  • Regarding the insiders, an Insider Trading Policy is created by taking into consideration the members of the Board of Directors, executives and employees of the company.

In line with this policy, the obligations that must be followed for the safety and the protection of the company’s trade secrets are:

  • Avoiding disclosure to unauthorized people of information related to trade secrets.
  • Avoiding the purchase, sale and trade of goods or making purchase or sale recommendations to any outsiders while holding such information.
  • Avoiding discussions related to such information when chatting on Internet sites.
  • Avoiding any behavior in line with such information that might result in personal gains or cause any outsider to benefit from.

Once the company’s Insider Trading Policy is developed, it is reviewed and updated regularly based on changing conditions.

  • The company’s Corporate Governance Principles Compliance Report, including the issues and the grounds for noncompliance to the Corporate Governance Principles (as published by the CMB), is included in the company’s annual report as well as its web site.
  • Developed by the company’s Board of Directors, the Profit Distribution Policy is disclosed to the public. It is also presented to the shareholders at the Ordinary General Assembly and included in the annual report.
  • In case of situations such as new, pending or finalized lawsuits and penalties against the company, except for special situation announcements, the company informs the public on the extent, date/time and by which authorized body/bodies will make such disclosure.

People Authorized to Disclose Information

The Group Chairman, the Chairman and Members of the Board of Directors, the CEO, the Chief Financial Officer or the Investor Relations Unit provide written or verbal responses to requests for information based on demand levels, except for the above-mentioned public disclosures. Other employees are not authorized to respond to information requests. In order to prevent disparity, public disclosures are made simultaneously and exclusively.

Web Site

The company uses the web site efficiently for public disclosure. Information that is required by the CMB’s communique on Corporate Governance Principles is provided on the company’s web site updated regularly.

Disclosures on the company’s web site do not substitute for statements and special situation announcements that are required by the CML. Public disclosures are published in Turkish and/or English on the company’s web site.

Ban on Disclosure

In order to prevent false or unauthorized disclosures, the company avoids disclosing information that has not been announced to the public until financial statements and their footnotes are published quarterly on the 15th of the month following the end of the accounting period. Based on the confidentiality principle, there shall be no discussions about the company’s non-disclosed financial information, and no responses shall be given to questions regarding such information during this period.