The SPK (Capital Markets Board of Turkey) Criminal Complaint 2. WHY DID YOU DONATE SO MUCH? YOU DONATED MORE THAN YOUR COUNTERPARTS.
My Answer: THE WAY DONATIONS ARE MADE IS CLEARLY DEFINED BY THE LAW. THE QUESTIONS AND ANSWERS ACCORDING TO THE LAW.
Is there a clausepertaining to this matter in our articles of association? YES. Was it decided on in the general assembly? YES. Was the amount to be donated announced in the general assembly? YES.
Were the donations made in secret? NO, OF COURSE NOT.THERE HAS BEEN A REGULAR ANNOUNCEMENTEVERY YEAR FOR THE PAST 8 YEARS. IT IS ON OUR WEBSITE, AND APPROVED IN OUR FINANCIAL TABLES.IT IS THERE FOR EVERYBODY TO SEE.
How long have you been making donations? 8 YEARS.
Has there been any case opened against the general assembly on this decision? NO.
Was there a warning by the SPK on this matter? NO.
Why is there one now, then???
Maybe the company was plunged into a state of crisis. How was the financial situation? DURING THE PERIOD WHEN THE COMPANY WAS BEING INSPECTED, THERE WAS A PROFIT OF 3.5 BILLION TL AND NO DEBT AND THERE WAS 1.5 BILLION IN CASH.
How much money was donated? About 0.01 percent which is 130 MILLION TL.
In this 8 year period, the board might have exceeded the limit set by the general assembly: NO, THEY WERE ACQUITTED AT THE END OF EVERY YEAR.
Were all the donations recorded? Were there receipts? YES, ALL OF THEM ARE OFFICIAL DONATIONS.
Who were all the donations made to? NINETY PERCENT OF THEM WERE MADE TO OFFICIAL BODIES OR EDUCATIONAL INSTITUTIONS WITH OFFICIAL STATUS.
IF THE DECISION OVER THE DONATIONS AND THE AMOUNT TO BE DONATED WAS MADE IN THE GENERAL ASSEMBLY, WHY HAS THE CASE BEEN OPENED AGAINST THE BOARD??? IT MIGHT BE A MISTAKE.
What is the premise for this case, then? THEY SAID IT WASN’T APPROPRIATE WHEN COMPARED WITH OUR COUNTERPARTS.
Who are the counterparts, then? NOBODY KNOWS. THIS IS NOT THE TYPE OF INFORMATION WE CAN GET HOLD OF. IT’S PRIVATE SO IT’S NOT SHARED WITH OTHER COMPANIES.
If you couldn’t get hold of this information, how would you come to an agreement onhow much to donate? WE DON’T KNOW.
Who is the counterpart, then? APPARENTLY, THIS INFORMATION IS CONFIDENTIAL.