Company News

Please use the link below for the material disclosures for the years 2017 & 2018.
2017 & 2018 Material Disclosures Link

20.04.2016
An agreement was reached at the collective bargaining negotiations held with the Turkish Mineworkers Union with regard to our Company’s workplace in Siirt/Madenkoy. The collective bargaining agreement covers the period between 01.01.2016 and 31.12.2017 and according to this agreement, as a result of the arrangement made on the wages dated 31.12.2015 of the workers being members of the relevant union; their wages would be increased at the rate of 4%for the first 6 months as to be effective as of 01.01.2016; the wages dated 30.06.2016 at the rate of 4% for the second 6 months as to be effective as of 01.07.2016; the wages dated 31.12.2016 at the rate of 5% for the first 6 months of the 2nd year as to be effective as of the date of 01.01.2017; the wages dated 30.06.2017 at the rate of 5% for the second 6 months of the 2nd year as to be effective as of the date of 01.07.2017.

28.3.2016
At the Board of Directors meeting dated March 28, 2016,
It was resolved by the Board that the matter of distribution on June 20, 2016 of total amount of cash dividend TRY 55,222,123.83, consisting of payment of gross TRY 0.3709488, net TRY 0.3153065 to one share with a nominal value of TRY 1.- as to be paid from the period profit of 2015 and previous years’ profits and as to ensure 37.095% dividend distribution on the basis of our issued capital amounting to TRY 148,867,243.- would be submitted to the General Assembly for ratification.

1.3.2016
At the Board of Directors meeting dated 01.03.2016;
It was resolved that the matter of authorization and appointment of DRT BağımsızDenetimveSerbestMuhasebeci Mali Müşavirlik A.Ş.” as the independent audit company as per the related regulations of the Capital Market Board, Turkish Commercial Code and Energy Market Regulatory Authority upon recommendation of our Company’s Audit Committee of our Company would be submitted to the General Assembly for ratification.

13.01.2016
The collection amounting to TRY 56 million from to be made from our main partner Park Holding A.Ş., as announced on December 31, 2015 by Material Event of Disclosure dated October 14, 2015 of our Company, was made at the amount of TRY 59 million.  In the financial statements dated June 30, 2015, the Company’s receivables of TRY 237.7 million decreased down to TRY 189.4 million due to increase arisen in the late interest receivables on December 31, 2015.

30.12.2015
Dividend payment would be made on 31.12.215 as per the Ordinary General Assembly, held on 14.05.2015 for the year 2014.

17.12.2015
The rating agreement entered into by and between our Company and SahaKurumsalYönetimveKrediDerecelendirmeHizmetleri A.Ş., having carried out corporate governance rating, was renewed for one year as to be effective as of 17.12.2015.

03.12.2015
Negotiations for collective bargaining agreement between our Company and the Turkish Mineworkers Union with regard to Siirt/Madenkoy would be commenced on December 23, 2015.

23.10.2015
According to the disclosure made by our Company’s subsidiary Park TermikElektrikSanayiveTicaret A.Ş. on 23.10.2015, our Company would get dividend income of 6.964.703,73 TL by the way of distribution of dividend to be completed until 30.11.2015

14.10.2015
The disclosure with regard to the letter dated 15.09.2015 and numbered BİAŞ-4 8879 of Borsa İstanbul A.Ş. (BIST) and regarding other receivables due from the related parties is as follows:

As stated in out footnote no. 30 of the financial statements dated June 30, 2015 and limited audit report of our Company, a part of the cash surplus was lent as financial debt to Park Holding A.Ş., being our main partner and delay interest is accrued on this receivable. As of the first six months of 2015, interest income of TRY 10,354,147 was generated from Park Holding A.Ş. in consideration for this receivable.

Upon examination of the financial statements for the last three years, it is noticed that the proportion of these receivables to the total assets is below 50%and a collection of TRY 56,000,000 is to be made on the date of 31.12.2015

05.06.2015
Our Company’s Corporate Governance Compliance Rating note was updated as 9.03 by SAHA KurumsalYönetimveKrediDerecelendirmeHizmetleri A.Ş., engaged in corporate governance rating activities in Turkey under the license issued by the Capital Market Board.

Distribution of our Company’s Corporate Governance Compliance Rating note, updated by considering the enhancements within the term since June 6, 2014 when our Corporate Governance Compliance Rating note was updated, is as follows according to major topics:
Major Topics Note
– Shareholders 87.90
– Public Disclosure and Transparency 95.24
– Beneficiaries 87.81
– Board of Directors 89.51
Total 90.29

The report issued by SAHA KurumsalYönetimveKrediDerecelendirmeHizmetleri A.Ş. with regard to our Corporate Governance Compliance Rating will be announced on our Company’s official web site ” www.parkelektrik.com.tr “

06.04.2015
Board Resolution on Dividend Distribution
ADDITIONAL DISCLOSURES
At the Board of Directors meeting dated April 6, 2015
It was resolved by the Board that the matter of distribution on December 31, 2015 of total amount of cash dividend TRY 91,464,686.80.- consisting of payment of gross TRY 0.6144044, net TRY 0.5222437 to one share with a nominal value of TRY 1.- as to be paid from the period profit of 2014 and previous years’ profits and as to ensure 61.44% gross dividend distribution on the basis of our issued capital amounting to TRY 148,867,243.- would be submitted to the General Assembly for ratification.

27.02.2015
New business relation
Royalty agreement relating to bauxite site with IV Group Operating permit and license in Gaziantep/Islahiye, Registry No. 78173, Access No. 3247558 was executed with the Operator CimMadencilikSanayiveTicaret A.Ş. for five years before the General Directorate of Mining Affairs of the Ministry of Industry and Trade; provided that it would be under the possession of our Company. The operator shall pay royalty of USD 1 per ton bauxite, to be produced from the Bauxite site, subject matter of the Agreement; provided that this would annually not be less than USD 100,000. The royalty fee shall be collected quarterly.

09.02.2015
Annulment of Process
Reason for Annulment
At the Board of Directors of our Company held on Feb 9, 2015, we were notified by a letter dated Feb 9, 2015 issued by SilopiElektrikUretim A.Ş. that with regard to merger of our Company into SilopiElektrikUretim A.Ş. by the way of acquisition with all the assets and liabilities within the frame of the Board of Directors Resolutions dated Sept 1, 2014 and December 11, 2014 as per Articles 136-158 of the Turkish Commercial Code, Article 18-20ofthe Corporate Tax Law and the Capital Market Law No. 6362 and Communique No. II 23-2 regarding Merger and Split-off of issued by the Capital Market Board and all the other related laws and regulations; the process of merger with SilopiElektrik was delay much more than planned; and the merger process was renounced at this stage; studies regarding public offering would be commenced. Within this frame, Board of Directors of our Company resolved that the merger with SilopiElektrikÜretim A.Ş. would be renounced and the relevant institutions would be notified of such matter of renunciation.

28.01.2015
DISCLOSURE:
The meeting date that is required to be stated in the material event of disclosure dated 27 01 2015 was 27.01.2015; the corrected version of the disclosure is as follows:

At the Board of Directors meeting dated 27.01.2015 of our Company;
It was resolved that the merger agreement of our company, executed on 31.12.2014, the Board of Directors’ merger report would be accepted with the amendments made thereto; and would be sent to the Capital Market Board.

We hereby acknowledge that our disclosure given above is in compliance with the principles set forth in the Communiqué on Material Events of Disclosure in effect, issued by the Capital Market Board, and reveals the information transmitted to us on this matter/matters; the relevant information is consistent with our books, records and documents; we made any and all necessary efforts to get the information on the relevant matter fully and correctly; and we are responsible for the disclosures made.

27.01.2015
DISCLOSURE:
At the meeting dated 27.01.2014 of our Board of Directors;
It was resolved that the amendments made to the merger agreement executed on 31.12.2014 and the Board of Directors’ merger report, as amended, would be accepted and sent to the Capital Market Board.
We hereby acknowledge that our disclosure given above is in compliance with the principles set forth in the Communiqué on Material Events of Disclosure in effect, issued by the Capital Market Board, and reveals the information transmitted to us on this matter/matters; the relevant information is consistent with our books, records and documents; we made any and all necessary efforts to get the information on the relevant matter fully and correctly; and we are responsible for the disclosures made.