Extention of the Term Regulated Under Turkish Commercial Code Provisional Article 13

The terms regulated under Turkish Commercial Code provisional Article 13 paragraph 1, which entails provisions regarding distribution of profits, has been extended by 3 months. Accordingly; “Equity companies may decide to distribute only up to twenty-five percent of the net profit for the year 2019, previous year profits and free reserve funds cannot be distributed, and the board of directors cannot be authorized to distribute dividends until 30/12/2020.”