Fertilizer Factories to Propose Share Buyback Program for General Assembly Approval

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Fertilizer Factories to Propose Share Buyback Program for General Assembly Approval

Foreks - Gubre Fabrikaları (IS:GUBRF) will submit its share buyback program for approval at the Extraordinary General Assembly Meeting to be held on November 25.

According to a statement made by the company to the Public Disclosure Platform (KAP), it was decided that the maximum number of shares that could be subject to the buyback would be 33,400,000 lots and the maximum fund would be up to 4,000,000,000 TL.

The statement provided the following information: "In the meeting of our Company’s Board of Directors dated 30.10.2024; Based on Article 379 of the Turkish Commercial Code numbered 6102, Article 22 of the Capital Markets Law numbered 6362, and the principles set forth by the Capital Markets Board as per the II-22.1 Regulation on Buy-Back Shares published in the Official Gazette dated 03.01.2014;

  • It was decided that the maximum number of shares that could be subject to the buyback would be 33,400,000 lots and the maximum fund would be up to 4,000,000,000 TL,
  • The maximum duration for the buyback of company shares will be valid for at most 1 (one) year from the date of the general assembly’s approval of the share buyback program,
  • The "Gubre Fabrikaları Türk A.Ş. Share Buyback Program" prepared by our Board of Directors will be submitted for the approval of the general assembly at the Extraordinary General Assembly Meeting to be held on November 25, 2024."