Transaction in Own Shares • Apr 22, 2025
Transaction in Own Shares
Open in ViewerOpens in native device viewer
In situations where the values formed on Borsa Istanbul do not reflect the true performance of our Company's activities, or to reduce price volatility, by evaluating current market conditions, the purpose is to enable the buyback of our shares on Borsa Istanbul if deemed necessary, and within this scope, by utilizing the authorization received from the General Assembly for share buy-back, to monitor price movements that will occur on the Stock Exchange in the upcoming period and to enable our Company to purchase its own shares when conditions require.
Our Company's Board of Directors has been granted authority for a period of 36 months. If deemed necessary, senior management representatives may also be authorized.
Our Company's Board of Directors is authorized for 36 months following the date it is granted authority by our General Assembly to conduct share buy-backs, dispose of the acquired shares, and carry out necessary procedures as per legislation. Within this authorization period, our Board of Directors may implement one or more shorter-term buy-back programs.
Our Board of Directors may decide to initiate a new buy-back program after the completion of a previous one, throughout the 36-month authorization period. In such a case, the procedure outlined above will be repeated.
If capital market conditions and/or the Company's financial situation are unfavorable, our Board of Directors is authorized not to initiate the share buy-back at all or to stop it at any time.
Our Board of Directors is authorized, subject to compliance with capital market legislation, to cease sales without disposing of all bought-back shares and to initiate a new buy-back program.
Pursuant to legal regulations, it is 380,000,000 shares, corresponding to 10% of our issued capital of TRY 3,800,000,000. This ratio will be adhered to during the buy-back program.
If the issued capital changes, the maximum number of shares that can be bought back will change proportionally with the capital.
Shares disposed of during the program period are not considered as deduction items in the calculation of this ratio. The total value of bought-back shares cannot exceed the total amount of resources available for profit distribution.
The lower price limit for share buy-backs is TRY 0 (zero), and the upper price limit is TRY 42 (forty-two).
If transactions occur that require the adjustment of our shares' stock exchange price, the same adjustment will be applied to the lower and upper price limits determined for the share buy-back. Lower and upper price limits adjusted in this manner will be announced on KAP via a material disclosure.
All relevant capital market legislation and Capital Markets Board regulations, primarily the provisions of Communiqué No. II-22.1 on Share Buy-backs, will be applied.
A maximum fund of TRY 1,000,000,000, generated from the Company's existing assets and income derived from its activities, can be used for the buy-back. External financing sources will not be used for the buy-back.
The nominal value of bought-back shares, including previous purchases, cannot exceed 10% of the issued capital.
The total value of bought-back shares cannot exceed the total amount of resources available for profit distribution.
The Company holds its own shares with a nominal value of TRY 4,550,291 remaining from the previous Buyback Policy in its portfolio. This amount corresponds to approximately 0.12% of the issued capital.
The maximum fund amount of TRY 1,000,000,000 that can be used within the scope of the buy-back program constitutes 0.05% of our total assets as per our financial statements dated 31.12.2024. In this context, the buyback program is not expected to have a significant impact on our Company's financial status and operating results.
During the year 2025, the lowest level seen was TRY 11.34, and the highest was TRY 16.41. The Weighted Average Share Price is TRY 14.09.
In the 3-month period starting from 16.01.2025, the lowest level seen was TRY 11.34, and the highest was TRY 16.41. The Weighted Average Share Price is TRY 14.12.
None.
The Board of Directors is authorized to execute the program. If deemed necessary, it may also authorize senior management representatives for implementation.
The Buy-back Program will be submitted for the approval of shareholders at the Ordinary General Assembly Meeting to be held on 14.05.2025 at 10:00 AM.
The buy-back program prepared by the Board of Directors shall be announced to the public via a material disclosure made by the Company and simultaneously published on the Company's website www.emlakkonut.com.tr at least three weeks prior to the general assembly meeting date, excluding the announcement and meeting days.
If any changes are made by the General Assembly to a buy-back program submitted for its approval, the amended program shall be announced to the public via a material disclosure made by the company on the first business day following the General Assembly date and simultaneously published on the Company's website.
Two business days before the commencement of buy-back transactions under the program, the Company shall make a material disclosure regarding the start and end dates of the planned buy-back period, the nominal amount of shares subject to buy-back, and their ratio to the capital.
For each transaction realized by the Company within the framework of the buy-back program, a material disclosure containing the nominal amount of the shares subject to the transaction, the transaction price, the ratio to the capital, the nominal amount of shares previously bought back under the program, any privileges attached to these shares, and the transaction date shall be made before the session starts on the business day following the transaction date.
In case of disposal of bought-back shares, including previous purchases, the Company shall make a material disclosure before the session starts on the business day following the transaction date, containing the nominal amount of the shares subject to the transaction, the transaction price, the ratio to the capital, the ratio of remaining shares to the capital, the realized gain/loss amount, any privileges attached to these shares, and the transaction date.
Within three business days following the end of the planned buy-back period, the termination of the program, or the completion of the planned buy-backs under the program, the Company shall publicly disclose the maximum and average price paid for the bought-back shares, the cost of the buy-back and the source used, the total number of shares bought back, and their ratio to the capital. If shares bought back by the Company were disposed of during the program period, additionally, in the same manner; the total nominal amount of disposed shares, the total gain/loss amount, the average selling price, any privileges attached to the shares subject to purchase and sale, and the transaction dates shall be disclosed. This information, serving as a summary of the transactions carried out within the buy-back program framework, shall also be presented for the information of the shareholders at the first General Assembly.
Reserves equivalent to the buy-back cost of the acquired shares shall be set aside and classified as restricted reserves under equity. These allocated reserves shall be released to the extent corresponding to their buy-back value if the bought-back shares are sold or redeemed.
Acquired shares will not be taken into account in the calculation of the meeting quorum at the General Assembly.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.