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made with a simple majority. This provision shall be reflected in the
articles of association.
For the purposes of determining the criteria of ‘importance’; any
of the following shall be taken into consideration:
a) 20% of the total assets disclosed in the last financial tables to
the public,
b) 40% of the relevant account group disclosed in the last finan-
cial tables to the public,
c) 25% of the equity disclosed in the last financial tables to the
public,
d) 20% of the gross sales revenue disclosed in the last financial
tables to the public.
General assembly meetings may be opened to the beneficiaries and
media having no right for them to comment therein. Such provision
may be inserted to the articles of association.
Applications that complicate the usage of the voting rights and
privileges in the voting rights shall be refrained. In case of privileges
in the voting rights, the privileges that prevent the public shares to be
represented in the management should be cancelled.
Minority rights may be granted to the persons who hold less than
1/20 of the share capital by a provision in the articles of association,
and the capacity of the minority rights may be extended in the articles
of association.
The company shall have a profit distribution policy. Such policy
shall be submitted to the consent of the shareholders at the general
assembly, stated in the annual report and disclosed to the public via
website of the company.
Applications limiting or complicating the free transfer of the
shares traded in the stock exchange shall be refrained from.
The website of the company shall be actively used for public dis-
closure and any and all information shall be updated therein.
The following information shall be stated in the website of the
company (alongside with the required disclosure as per applicable
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NEWSLETTER 2012