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Turkcell General Assembly Held, Shareholders Approve Historic Resolutions: Turkey's Turkcell Has Gained Further Strength


Amendments to the Articles of Association were approved at the General Assembly Meeting of Turkcell, the only Turkish company with shares publicly traded abroad, and among Turkey's top 5 most valuable brands, held today. With approval of the amendments a firm step is taken towards Turkcell being more competitive globally, while paving the way for a simpler shareholder structure and accelerating decision-making processes.

The General Assembly at which historic decisions were taken at Turkcell (NYSE:TKC) (BIST:TCELL), and which has launched a new era for the Company has been completed. The articles stipulating amendments to the Articles of Association of the Company, which the major shareholders of Turkcell had long studied and brought forward to the Turkcell General Assembly have been accepted by the shareholders. Following these amendments along with the share transfer transactions stipulated to be performed among shareholders, Turkey Wealth Fund is expected to become the majority shareholder of Turkcell with 26.2 per cent of the total shares, and LetterOne is expected to increase its share in the Company to 24.8 per cent, while public shares corresponding to 49 percent of the Company remain traded at the Borsa Istanbul and New York Stock Exchange.

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The General Assembly at which historic decisions were taken at Turkcell, and which has launched a new era for the Company has been completed. (Photo: Turkcell)

The General Assembly at which historic decisions were taken at Turkcell, and which has launched a new era for the Company has been completed. (Photo: Turkcell)

"We'll proceed to create value for our country"

Stating that the General Assembly meeting being held with a high level of participation and efficiency had added value to the Company, Bülent Aksu, the Chairman of the Board of Directors of Turkcell, has emphasized that the Articles of Association were amended for the purpose of becoming a more powerful company and brand for both the investors and the customers. He said, "I'd like to thank all our shareholders who have attended our General Assembly and voted today. By virtue of this courtesy ensuring that historic decisions were taken, our Articles of Association have been amended and the shareholders have arrived at a solution. By common will of our shareholders, the General Assembly produced a solution which creates significant value for both the Company and the Turkish economy in accordance with the provisions of the legislation and corporate governance principles."

Aksu said that, "When it comes to Turkcell, there are certain values which shall never change. We'll continue strengthening our innovativeness, high quality, customer satisfaction policy, strong financial structure and our socially responsible business model, all of which exist in our Company's DNA." He continued that: "Turkcell displays consistent growth and shares value created with its investors. Turkcell, having approximately 50 million subscribers and one of the strongest infrastructures in the world also embodies a digital service portfolio spanning music, instant messaging services, personal cloud storage platform used worldwide and digital business solutions including the largest data center of Turkey, along with the next generation payment platform of Turkey in the tech-fin sphere. I believe that the share transfers expected to be realized after the General Assembly shall contribute to Turkcell's market value, and that our Company shall remain as the right address for all investors, domestic and foreign. Turkcell continues its journey as a global brand with fast and firm steps. Following our General Assembly today, our target is to lead our brand much further in the global arena. With the support of our shareholders, we'll continue to do our diligence in accordance with this common purpose, to add value to our customers' lives, and develop products and services that contribute to our strong position in the global arena. And being Turkey's Turkcell, we will continue to work for our country and produce for our nation. May the new era be the best yet for our country and for Turkcell."

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