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Turkcell Annual General Assembly Decisions Dated April 25, 2008


  ISTANBUL, Turkey, April 25 /PRNewswire-FirstCall/ -- Turkcell (NYSE: TKC, ISE: TCELL), the leading provider of mobile communications in Turkey, announced today the following decisions taken at its Annual General Assembly:

1. Turkcell Board of Directors determined, pertaining to the period between January 1, 2007 and December 31, 2007, our Company''s profit, calculated according to the consolidated financial statements, which were audited independently in accordance with the Capital Markets Board Communique Serial: XI numbered 25, named "Communique Regarding the Accounting Standards in Capital Markets" is TRY1,758,625,233 (approximately US$1,361,797,454) and the commercial after tax profit calculated according to the provisions of Turkish Commercial Code is TRY1,901,863,845 (approximately US$1,472,714,763),

After tax profits, subject to dividend distribution, calculated, in accordance with article 36 of the Capital Markets Board Communique Serial: XI numbered 20, named "Communique on Principles Regarding Financial Reporting in Hyperinflationary Periods", modified by the Capital Markets Board Communique Serial: XI numbered 26 is TRY1,758,625,233 (approximately US$1,361,797,454),

TRY1,392,521,095 (approximately US$1,078,303,465), calculated by subtracting the total profits of our Company''s subsidiaries and the affiliated companies, which have not passed a shareholders resolution regarding dividend distribution or not subject to distribution despite such resolution, amounting to TRY366,104,138 (approximately US$283,493,989), shall be taken as the basis for dividend distribution,

In accordance with the CMB Communique Serial IV No: 27 on "Principles Regarding Distribution of Dividends and Interim Dividends To Be Followed by the Publicly Held Joint Stock Corporations Subject to Capital Market Law" and within the framework of article 466 of the Turkish Commercial Code ("TCC"), 5% of the commercial after tax profit of TRY1,901,863,845 (approximately US$1,472,714,763) shall be set aside as the first legal reserve, which amounts to TRY95,093,192 (approximately US$73,635,738),

TRY1,297,427,903 (approximately US$1,004,667,727) is the basis for dividend distribution for the Company, pertaining to year 2007, which is the difference between TRY1,392,521,095 (approximately US$1,078,303,465), as stated in the consolidated financial reports of the Company and TRY95,093,192(approximately US$73,635,738), which is the first legal reserve amount, as mentioned here in above and TRY1,301,935,368 (approximately US$1,008,158,098)- calculated by adding TRY4,507,465 (approximately US$3,490,371) which is the aggregate amount of the donations made during the year, to the above mentioned amount shall be taken as the first dividend basis,

TRY260,387,074 (approximately US$ 201,631,620), which is 20%, the percentage declared by the Capital Markets Board as the minimum dividend distribution percentage for year 2007, of the first dividend basis, amounting to TRY1,301,935,368 (approximately US$1,008,158,098) shall be distributed as the first cash dividend and the secondary reserve amounting to TRY53,871,395(approximately US$ 41,715,499) shall be separated from the rest of the net distributable current year profit,

a. The total amount of TRY648,713,951 (approximately US$502,333,863), which shall be distributed in cash, will be distributed as follows;

- TRY1,687,150 (approximately US$ 1,306,450) from extraordinary reserves, - TRY647,026,801(approximately US$501,027,412) from previous years profits,

b. As the total amount of TRY648,713,951 (approximately US$502,333,863), which is stated above and which shall be distributed in cash, has been obtained by the investment incentive utilized within the scope of the investments made during the period prior to April 24, 2003 and investment allowance withholding has been calculated on the same amount in this regard, it shall be distributed without any withholding tax deductions,

c. In this respect, an amount of TRY0.2948699 (approximately US$0.2283335), net and gross, shall be paid in cash equally, to our shareholders for each share, having a nominal value of TRY 1 (One New Turkish Lira),

The aggregate net amount of cash dividend payment shall be TRY648,713,951 (approximately US$502,333,863),

TRY1,243,556,508 (approximately US$962,952,228) which is the remaining distributable profit after the cash dividend distribution shall be:

a. Regarded as extraordinary reserves and set aside within the Company,

b. As the total of such amount, transferred to 2008 financial year as extraordinary reserves, has been obtained by the investment incentive, utilized within the scope of the investments made during the period prior to April 24, 2003 and investment allowance withholding has been calculated on such amount, no withholding tax deductions shall be applicable on such amount in case such amount will be subject to redistribution,

TRY366,104,138(approximately US$283,493,989), the aggregate profit of the Company''s subsidiaries and the affiliated companies, which is not subject to distribution shall be left within the Company as the extraordinary reserve,


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