ISTANBUL (Turkey), Mar 12, 2010 -- (InPR) -- According to the Capital Markets Law and Capital markets Board Regulations, our company earned a post-consolidated tax net profit of TL 811,297,710.17 as a result of its activities in 2009, whereas statutory records show post-tax net profits to be TL 632,932,412.73. Consolidated balance sheet assets totaled TL 10,223,303,304.46 in 2009.
The 5% Legal Reserve to be set aside pursuant to Article 466 of the Turkish Commercial Code was not set aside in the current year, since reserves in previous years exceeded the ceiling.
Since distributable profits pertaining to the current period in the financial statements created in line with official records are below the distributable current period profits in the financial statements issued in accordance with the Capital market Law and Capital market Board Regulations, the profit to be regarded as the basis of distribution is the one in the official records totaling TL 632,932,412.73. Therefore we propose to the Ordinary General Meeting that will convene on Monday, April 5, 2010 to debate the outcomes of the activities of 2009 that: to recommend to be distributed as dividend TL 626,048,000.00 to shareholders and TL 61,352,704.00, 10% to be separated as II. class reserve
If the above mentioned dividend distribution proposal is approved, on the basis of our official records, that
Be distributed as dividend to shareholders,
- The TL 626,048,000.00 to be distributed as cash dividends be expended, from TL 31,656,091,83 exceptional earnings of the current year, TL 544,875,279.74 non-exceptional earnings of the current period, TL 49,516,628.43 from the non- exceptional legal reserves
- a cash dividend of gross=net TL 2,50 be paid for one nominal stock worth TL 1.00 at a rate of 250% to our full fledged corporate taxpayer shareholders and limited corporate taxpayer shareholders earning dividends through a Turkey-based Business or permanent representation office;
- other shareholders be paid a gross cash dividend of TL 2,50 and a net cash dividend of TL 2.14396 in return for one nominal stock worth TL 1.00, at a rate of 250%; and
The dividend distribution be set to begin on Tuesday, April 6, 2010.
We declare that the statement above is in conformity with the principles set forth in the Series VIII No.54 Communiqué of the Capital Markets Board, that it accurately reflects all Information submitted to us regarding this/these issue(s), and that this Information is consistent with the Information in our books, records and documents, that we have made all effort to obtain the relevant Information completely and accurately and that we are bound by this statement. 2009 Profit Distribution Table
Source: Tupras, March 10, 2010
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