The SPK (Capital Markets Board of Turkey) Criminal Complaint 3: THE BONUSES PAID TO THE BOARD MEMBERS ARE VERY HIGH. THERE ARE TRANSFERS OF DISCRETIONARY INCOME.
My Answer: There is a clear regulation that specifically deals with this matter. When there is a legal regulation it is against reason, logic and the law to look for an unknown counterpart. You cannot claim that an action is a crime when itabides by the law and when it is done lawfully.
THE POLICY DECISION ON PROFIT SHARING WAS MADE AND ANNOUNCED EIGHT YEARS AGO IN KOZA’S GENERAL ASSEMBLY AND WAS PUT ON THE WEBSITE AND HAS BEEN A PERMANENT FEATURE THERE.
Furthermore, every year it has beendiscussed and approved in the general assembly, and every year, the approval has been announced.
ACCORDING TO THE DECISION THAT ISONOUR OFFICIAL WEBSITE:
he board members will receive a 2-3 percent bonus of the net profit after tax, if the company makes a profit that year.The profit in the period that was inspected was 3.2 billion TL and some 100 million TL was paid to the board.How can such information be ‘discretionary’ when it is crystal clear and when everyone knows about it and when it has been announced on our website each year;is there for 365 days, for the last 8 years; and it’s there in the 16 independent audit reports, and in the 32 financial tables that were published every 3 months, and it was announced in 8 separate general assemblies.
HAVE A HEART!
The foreign funds, that have 90 percent of the 30 percent of shares which are open to the public, and who, on principle,usually object to every motion raised, haven’t made the slightest objection to this.
When none of the owners of the company has any objection, on behalf of whom is the SPK making a criminal complaint and filing a lawsuit to collect the debt?
HAVE A HEART!
If there is a matter pertaining to the SPK, it is this:
As our profit-sharing policy is completely in line with all the legal regulations, is it also in line with the clearly defined rules and regulationsset out in the SPK’s declaration on profit shareto be distributed to the board?
The answer: YES. 100 percent LETTER FOR LETTER.
IN THAT CASE, MY FRIEND, WHY DID YOU PUT TEKIN IPEK IN PRISON?