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Main contract

  • DCIM100MEDIADJI_0017.JPG
  • DCIM100MEDIADJI_0017.JPG

AKSU ENERGY AND TRADE JOINT STOCK COMPANY MAIN AGREEMENT

ESTABLISHMENT ([1])

Article 1 - As stipulated in the Articles of Association of the Articles of Association, a joint stock company has been established between the Group and the holders of the shares to be issued as per the relevant provisions of the Turkish Commercial Code to be administered in accordance with the applicable laws and the provisions of this Articles of Association.

 

FOUNDERS ([2])

 

Article 2 Aksu Energy and Trade Joint Stock Company registered on 11.18.1985 and 21.11.1985 organizations in the history of Turkey No. 1391 were announced in the Trade Registry Gazette.

 

COMPANY'S TITLE

 

Madde 3– Şirketin adı “AKSU ENERJİ VE TİCARET ANONİM ŞİRKETİ” dir.

 

PURPOSE AND SUBJECT([3])

 

Madde 4– Şirketin başlıca konuları aşağıda gösterilmiştir.

  • Şirket, elektrik enerjisi üretimi için tesis kurulması, işletmeye alınması veya hazır tesis satın alınması, kiralanması, üretilen elektrik   enerjisinin müşterilere satışı ile iştigal eder.
  • Şirket her türlü petrol, gaz, maden ve yeraltı kaynaklarını gerekli izinleri almak şartıyla arama,  çıkarma çalışmalarını yapabilir, satın alabilir,   satabilir,   kiralayabilir, kiraya verebilir. Çıkarılan madenleri işleyebilir, ham, cevher veya mamul madde olarak satabilir, ithal ve ihraç edebilir.  Madenlerin işlenmesi için tesis kurabilir, makine ve gerekli ekipmanı alabilir, satabilir, ithal ve ihraç edebilir. Devletin her türlü maden arama ve çıkarma imtiyazları için açacağı ihalelere iştirak edebilir. Her türlü maden sahaları ruhsatname müracaatları yapabilir, devir alabilir, devir edebilir.

 

The Company shall operate in accordance with the relevant energy legislation, including the electricity market, the natural gas market, the petroleum market and the mine legislation, in order to achieve the objective set out in sections (A) and (B) above:

 

1-  Elektrik enerjisi üretmek amacıyla Enerji Piyasası Düzenleme Kurumu’ndan gerekli izin ve lisansları almak, her türlü tesisi kurmak, işletmeye almak, satın almak, devralmak, kiralamak, kiraya vermek,

 

2- Her nevi enerji ve yenilenebilir enerji kaynaklarına dayalı elektrik üretimi için; ilgili mevzuat çerçevesinde, her nevi madenleri ve gazları, petrol, doğalgaz ve türevlerini, jeotermal, su kaynakları, doğal kaynakları ve sair her türlü enerji kaynağını ve elektrik üretimi için gerekli her türlü hammadde ve yardımcı maddeleri satmak, satın almak, işlemek, depolamak, nakletmek, ithal etmek,ihraç etmek, ticaretini yapmak ve bu hususlarda gerek resmi gerek özel her türlü ihalelere iştirak etmek, anlaşmalar akdetmek,

3-   Elektrik üretimi faaliyeti sırasında oluşan buhar, sıcak su, gaz, atık ve sair yan ürünleri satmak, depolamak, değerlendirmek,

 

4-  Yeraltı ve yerüstü maden ve tabii kaynakları, jeotermal ve doğal mineralli su kaynakları ve jeotermal kökenli gazları mevcut Kanunlara uygun olarak aramak, çıkartmak, işletmek, satın almak, satmak, kiralamak, kiraya vermek, jeotermal kaynaklar ve doğal mineralli sularla ilgili arama ve işletme ruhsatı almak, maden arama ruhsatnamesi almak, maden aramak, işletme hakkı talep etmek, işletme ruhsatnamesi ve işletme imtiyazı almak, maden ruhsatnameleri üzerinde ipotek ve rehin kurmak, devri kabil madenlerin haklarını devralmak, ilgili mevzuata riayet etmek koşulu ile her türlü maden ve kömür ocakları açmak ve işletmek, maden işletmeleri ve maden sanayi tesisleri kurmak, madencilik ile ilgili  makine,  yedek parça,  teçhizat ve tesisatı  üretmek,   almak,   satmak, pazarlamak, ithalat ve ihracatını yapmak, maden cevheri satın almak, işlemek, zenginleştirmek, satmak, maden cevheri üzerinde rehin tesis etmek,

 

5-  Üretilen elektrik enerjisi ve/veya kapasiteyi toptan satış lisansı sahibi tüzel kişilere, perakende lisansı  sahibi tüzel kişilere ve serbest tüketicilere ikili anlaşmalar yoluyla satmak,

 

6- SPKn’nun md.15/son hükmü saklı olmak kaydıyla kontrol oluşturmaksızın kurulmuş veya kurulacak dağıtım şirketleri ile iştirak ilişkisine girmek,

 

7- SPKn’nun md.15/son hükmü saklı olmak kaydıyla kurulmuş veya kurulacak elektrik enerjisi üretim şirketleri ile iştirak ilişkisine girmek.

On the other hand, the Company may engage in the following matters to be limited to the activities of the Company in order to realize the matters related to its purpose and subject, to make the necessary explanations within the scope of the Capital Market legislation and to comply with the principles set forth in the capital market legislation in order to ensure the clarification of the investors:

a)-Faaliyet konuları ile ilgili olarak, acenteler, mümessillikler, şubeler açmak ve pazarlamacılık faaliyetinde bulunmak,

b)-Faaliyet konuları ile ilgili olarak, yurtiçi ve yurtdışından makine ve ekipman    kiralamak,  satın almak ve satmak,

c)-Faaliyet konuları ile ilgili olarak tesisleri kiralamak, satın almak, satmak ve işletmek,

d)-Faaliyet konuları ile ilgili olarak sermaye piyasası mevzuatı ile düzenlenen aracılık faaliyeti, menkul kıymet portföy işletmeciliği ve yatırım danışmanlığı faaliyeti niteliğinde olmamak üzere her türlü menkul ve gayrimenkul mal ve araç  edinmek,  bunları  işletmek,   satın  almak,  satmak,   şirket  alacaklarının teminatı olarak başka şahısların gayrimenkulleri    üzerinde ipotek almak, fek etmek ve gerek şirketin gerekse başka şahıs ve şirketlerin borçlarının teminatı olarak ipotek vermek, gayrimenkule müteallik, tevhit, ifraz, terk, irtifak hakkı tesisi ve maliki  olduğu gayrimenkullerde cins tashihi işlemleri  yaptırmak, gayrimenkul satış vaadinde bulunmak;    veya bu haklan kabul etmek; kat mülkiyeti kurmak, yeşil saha ve yola isabet eden arazi parçalarını kamu yararına terk ve teberru etmek; iktisap edilen gayrimenkulleri ve bunlar üzerindeki tesisleri devir ve ferağ etmek,

e)-Sermaye Piyasası mevzuatında belirlenen esaslara uygun olmak şartı ile mülkiyeti şirkete veya üçüncü şahıslara ait gayrimenkuller üzerinde gerek şirketin gerekse başka şahıs ve şirketlerin borçlarının teminatı olarak başta ipotek olmak üzere her türlü ayni veya şahsi haklar tesis etmek, bunları fek etmek; benzeri tüm işlemleri yapmak, şirketin leh ve aleyhine ayni haklar tesis etmek,

f)-Şirketin borçlarının ve Şirket tarafından ihtiyaçları  için  finansman temini amacıyla yapılacak her türlü nakdi ve gayri nakdi kredi sözleşmesi ve benzer her türlü finansman sözleşmelerinin teminatı olmak üzere Şirket’e ait veya Şirket tarafından edinilecek her türlü menkul mallar üzerinde Sermaye Piyasası mevzuatında   belirlenen  esaslara uygun olmak Kaydıyla alacaklı veya göstereceği üçüncü kişiler lehine rehin, ayni hak, ticari işletme rehni, kullanım hakkı gibi ve bunlarla sınırlı olmaksızın her türlü takyidat tesis etmek, başka şahıs ve şirketlerin, iştiraklerinin borçlarının teminatı olarak şirkete ait menkul mallar üzerinde rehin, ayni hak, kullanım hakkı tesis etmek ve kaldırmak,

g) To obtain all kinds of cash, non-cash loans in short, medium and long term in the domestic and foreign banks, financial institutions, financial markets, commodity exchanges and similar institutions, financial markets, commodity exchanges and markets, to make agreements, to provide resources, to the subsidiaries, affiliates, management, participation in the management of the business partnerships, business advisory activities, and to provide all kinds of consultancy management and organization services in the form of investment advisory activities, provided that, in accordance with the principles laid down in the Capital Markets legislation to provide mortgage, surety and guarantee as collateral for other individuals and companies' debts, to be joint debtor and joint guarantor or only to be guarantor,

(h) To participate in the tenders to be opened by the relevant authorities, public institutions and institutions and municipalities and to obtain the necessary authorization and permissions; for the provision, sale and distribution of drinking, using and industrial water from all kinds of underground and aboveground sources; to make or do any kind of survey and project of any kind of facility, to establish or establish, operate, rent, rent out, take over and operate the ones according to these projects,

ı) To make agreements with domestic and / or foreign companies related to the activity subjects, to enter into and make commitments in domestic or abroad, to employ Joint Staff, to exchange personnel, to employ foreign experts when necessary,

i) - To provide the management and technical organizations of the companies to be established or to be established as a founder,

j) - All legally required by the Capital Markets Board, with all the legislative obligations in force and without the qualifications of intermediary activities, securities portfolio management and investment advisory activities regulated by Capital Markets legislation, without prejudice to Article 15 / final provision of Capital Market Law. to establish a company with domestic and / or foreign real and / or legal persons, to participate in partnerships, to participate in existing or existing companies, to buy stocks or shares of existing or established companies, to obtain bonds, dispose of the values ​​acquired in accordance with its purpose when necessary,

k) To make industrial and commercial investments in the activity areas; to acquire, transfer and waive the brand, patent, know-how and other industrial property rights related to its purpose, and to make license agreements on them,

l) - To accept foreign co-ownership in the form, nature and procedure permitted by the relevant legislation,

So much so; The principles determined in the framework of capital market legislation shall be complied with in terms of providing guarantee, surety, collateral or pledge right including mortgage on its behalf and in favor of third parties.

 

In case of changes in the purpose and the purpose of the company, the necessary permits should be obtained from the Energy Market Regulatory Board, the Capital Markets Board and the Ministry of Industry and Trade.

 

HEAD OFFICE AND BRANCHES OF THE COMPANY ([4])

 

Madde 5– Şirketin merkezi ISPARTA’DIR. Adresi Piri Mehmet Mahallesi Mimar Sinan Caddesi Miralay Mustafa Nuri Bey İşhanı Kat:2 No:77 32100-ISPARTA’ dır.

 

changes of address, registration with the trade registry and announced in Turkey Trade Registry Gazette and also notified to the Ministry of Industry and Trade. The notification made to the registered and announced address shall be deemed to be made to the Company. The Company may open branches at home and abroad on condition that it informs the Ministry of Industry and Trade.

 

 

COMPANY MANAGER ([5])

Madde 6- Şirketin mevcudiyeti belirli bir süre ile sınırlandırılmamış olup, süresizdir. Pay sahipleri genel kurulu, kanuni vecibelere uymak şartıyla şirketin süresini sınırlayabilir. Bu konuda  required institutions   permission is received.

 

REGISTERED CAPITAL ([6])

 

Madde 7– Madde 7- Şirket Sermaye Piyasası Kanunu hükümlerine göre kayıtlı sermaye sistemini kabul etmiş ve Sermaye Piyasası Kurulunun 25.11.1987 tarih ve 688 sayılı izni ile bu sisteme geçmiştir.

 

Şirketin kayıtlı sermayesi 150.000.000.- (YüzElli milyon) TL’si olup her biri 1.-(Bir) TL nominal değerde 150.000.000 (YüzElli milyon) adet paya bölünmüştür.

Şirketin çıkarılmış sermayesinin  her biri 1.-(Bir) TL nominal değerde 33.000.000 (Otuzüçmilyon) adet paya bölünmüş 33.000.000 (Otuzüçmilyon) TL.’sıdır. Sermaye Piyasası Kurulu’nca verilen kayıtlı sermaye tavanı izni, 2021-2025 yılları (5 yıl) için geçerlidir. 2025 yılı sonunda izin verilen kayıtlı sermaye tavanına ulaşılmamış olsa dahi, 2025 yılından sonra Yönetim Kurulu’nun sermaye artırım kararı alabilmesi için; daha önce izin verilen tavan ya da yeni bir tavan tutarı için Sermaye Piyasası Kurulu’ndan izin almak suretiyle genel kuruldan yeni bir sure için yetki alınması zorunludur. Söz konusu yetkinin alınamaması durumunda Şirket yönetim kurulu kararıyla sermaye artırımı yapamaz.

All of the issued capital is represented on the bearer shares with a nominal value of 1 TL each. The distribution of shares is as follows.

 

A GRUBU TOPLAM                         568.965,52.-TL.

 

B GRUBU TOPLAM                     32.431.034,48-TL.

————————-

A VE B GRUBU TOPLAMI            33.000.000,00-TL.

 

In the capital increases to be made from now on, Group A shares will be issued against Group A shares and Group B shares will be issued against Group B shares.

It shall be monitored within the framework of dematerialization principles shares representing the capital.

The arrangements to be made by the Capital Markets Board and other relevant institutions regarding the dematerialization of shares are reserved.

Yönetim kurulu 2021-2025 yılları arasında, Sermaye Piyasası Kanunu hükümlerine uygun olarak gerekli gördüğü zamanlarda kayıtlı sermaye  tavanına kadar hamiline yazılı paylar ihraç ederek çıkarılmış sermayeyi artırmaya ve ayrıca imtiyazlı veya itibari değerinin üzerinde pay  çıkarılmasına, pay sahiplerinin yeni pay alma haklarının sınırlandırılmasına yetkilidir.

 

Hisse senetlerinin nominal değeri 1.000.-TL iken 5274 sayılı TTK ‘da değişiklik yapılmasına dair kanun kapsamında 1 Yeni Kuruş olarak değiştirilmiştir. Bu değişim sebebiyle toplam pay sayısı azalmış olup her biri 1.000.-TL’lik 10 adet pay karşılığında 1 Yeni Kuruşluk 1 Pay verilmiştir.31 Ocak 2004 tarihli Resmi Gazete ‘de yayımlanan 5083 sayılı “Türkiye Cumhuriyeti Devletinin Para Birimi Hakkında Kanun’a istinaden 5 Mayıs 2007 tarihli Resmi Gazete ‘de yayımlanan 4 Nisan 2007 tarihli ve 2007/11963 sayılı Bakanlar Kurulu Kararı ile Yeni Türk Lirası ve Yeni Kuruş’ta yer alan “Yeni” ibaresinin 1 Ocak 2009 tarihinde kaldırılmasına karar verilmiştir.

 

 

The words lar Turkish Lira ”in these articles of association are the words changed in accordance with the above mentioned Council of Ministers.

The rights of the shareholders arising from the shares held by the shareholders are reserved.

 

In the event of a capital increase by issuing new shares in cash provision, the shareholders have the pre-emptive right in proportion to their shares in accordance with article 394 of the Turkish Commercial Code, unless the decision of the board of directors restricts their pre-emptive rights or contrary to the general meeting. Pre-emptive rights of shareholders are used within their own groups. Group A shares remaining after the exercise of preemptive rights are proposed by the board of directors to the other Group A shareholders, in which case the remaining shares are sold to the shareholders other than Group A or to the real or legal persons who will be the new shareholders.

In case of the public offering of the remaining shares after the exercise of the preemptive rights, the relevant transactions shall be made in accordance with the Capital Market legislation.

Şirket paylarının devri Türk Ticaret Kanunu, Sermaye Piyasası mevzuatı, Enerji Piyasası Düzenleme Kurumu  ve işbu ana sözleşme hükümlerinin saklı tutulması kaydıyla serbesttir.

Ancak  Şirketin sermayesinin yüzde beşi veya daha fazlasını temsil eden payların doğrudan veya dolaylı olarak bir gerçek veya tüzel kişi tarafından edinilmesi ile bir ortağa ait payların tüzel kişilik sermayesinin yüzde beşini aşması sonucunu veren pay edinimleri ve/veya bir ortağa ait payların yukarıdaki oranların altına düşmesi sonucunu veren pay devirleri veya yukarıda belirlenen pay edinimlerinden bağımsız olarak tüzel kişinin ortaklık yapısında kontrolün değişmesi sonucunu veren pay devirleri her defasında Enerji Piyasası Düzenleme Kurulunun onayına tabidir. Bu hüküm oy hakkı edinilmesi halinde de geçerlidir.

Even if there is no transfer of shares, the privilege facility on the existing shares, the abolition of the concession is subject to the approval of the Energy Market Regulatory Authority, regardless of the proportional limits related to the share transfer.

 

PAYMENT METHOD OF CAPITAL ([7])

 

Article 8- This article has been repealed.

 

CAPITAL INCREASE ([8])

 

Article 9- This article has been repealed.

 

BONUSING REMOVAL ([9])

 

Article 10 - The Company may issue bonds within the limits set forth by the law (Board of Directors' Decision). New bonds cannot be issued unless the bonds issued are fully amortized. Bonds to be issued shall not exceed the paid amount of the capital.

 

BOARD OF DIRECTORS([10])

 

Article 11- In the General Assembly, 2 of the non-independent members of the Board of Directors shall be elected from among the candidates to be determined by a majority of shareholders with a separate agenda item. The other members to be elected to the Board of Directors shall be freely determined by the General Assembly in accordance with the provisions of the Turkish Commercial Code and Capital Market Legislation. Pursuant to the relevant provision of the Turkish Commercial Code, the Board of Directors shall be elected by the Board of Directors upon being submitted to the Board of Directors for approval.

b- The Company's business and management shall be constituted by the Board of Directors consisting of 7 (seven) members including the independent members to be elected by the General Assembly in accordance with the provisions of the Turkish Commercial Code.

The number of independent members within the Board of Directors may not be less than one third of the total number of Board members. In calculating the number of independent members, fractions are considered as an integer. In any case, the number of independent members cannot be less than two. The qualifications of the independent members of the Board of Directors shall be determined according to the regulations of the Capital Markets Board regarding corporate governance.

c- The term of office of the members of the board of directors, including independent members, is three years at most. Members of the board of directors, including independent members whose election period has expired, may be re-elected.

d- The Board of Directors shall elect a chairman and a vice-chairman to act in his absence.

e-Members of the Board of Directors and independent members of the Board of Directors are entitled to pay or attendance fee determined by the General Assembly.

f- In order to ensure that the duties and responsibilities of the Board of Directors are fulfilled in a healthy manner, the Audit Committee shall take into account the requirements of the Company and the Corporate Governance Committee and, where appropriate, an adequate number of other committees.

g- The approval of the majority of the independent members is sought in all related party transactions of the company and in the resolutions of the board of directors regarding the issuance of guarantees, pledges and mortgages in favor of third parties. If the majority of the independent members do not approve the said transaction, this is publicly disclosed within the framework of public disclosure arrangements, including sufficient information regarding the transaction, and the transaction is submitted to the general assembly for approval. At the said General Assembly meetings, it is decided in a vote that the parties of the transaction and related persons cannot vote and other shareholders are allowed to participate in such decisions in the general assembly. No meeting quorum shall be sought in the General Assembly meetings to be held for the cases specified in this article. The decision shall be taken with the ordinary majority of those entitled to vote. The Board of Directors and general assembly resolutions which are not taken in accordance with the principles stated in this paragraph are invalid.

 

h- The provisions of the Communiqué regarding the representation and binding of the Board of Directors, its function, principles of activity, the manner of the Board of Directors meetings, the decision of the meeting and quorum, the relevant articles of the Turkish Commercial Code and the determination and implementation of the Corporate Governance Principles of the Capital Markets Board shall apply.

I-Board of Directors meetings may be held in an electronic environment and some members may attend a meeting in which they are physically present through the electronic participation of some members. In such cases, the provisions of the meeting stipulated in the Law and the Company's articles of incorporation and the quorums for resolution shall apply. In this respect, the provisions of the relevant legislation are applied.

 

 

REPRESENTATION AND BINDING OF THE COMPANY, MEETING AND DECISION[11])

 

Article 12- This Article has been repealed.

 

REMUNERATION OF BOARD MEMBERS ([12])

 

Article 13- This Article has been repealed.

 

AUDITORS, DUTIES AND FEES ([13])

 

Article 14 - The provisions of the Turkish Commercial Code and the Capital Market Legislation shall apply to the auditing of the Company and other matters stipulated in the legislation and the issues of auditors.

 

DUTIES OF THE AUDITORS ([14])

 

Article 15- This Article has been repealed.

 

FEES OF AUDITORS ([15])

 

Article 16- This Article has been repealed.

 

GENERAL ASSEMBLY([16])

 

Article 17-

a) Call to Meeting

The General Assembly of the Company convenes as Ordinary or Extraordinary. Ordinary General Assemblies shall convene within three months following the end of the accounting period of the Company and at least once a year and Extraordinary General Assemblies shall convene whenever the business of the Company requires.

The invitations to these meetings, the notifications to be made regarding the Meetings and the provisions of the Turkish Commercial Code and the relevant provisions of the Capital Market Legislation shall apply. General Assemblies are held at the Company headquarters or at a suitable place in the province where the company's head office is located. The General Assembly meeting shall be held in a manner that will not lead to inequality among the shareholders in order to increase the participation of the shareholders and to ensure the participation of the shareholders at the lowest possible cost.

The meetings are chaired by the Chairman of the Board of Directors. In case of excuse, the chairman is elected by the general assembly. A vote collector is also elected by the General Assembly.

 

 

 

 

 

b) Voting Rights

Without prejudice to the provisions of Article 479 of the Turkish Commercial Code at the Ordinary and Extraordinary General Assembly meetings to be held, each Class A shareholder has 15 (fifteen) shareholders and each Group B shareholder has one (1) voting right.

At the General Assembly meetings, shareholders may be represented by other shareholders or by proxy from outside. The proxies who are the shareholders in the Company are authorized to use the votes of the shareholders they represent in addition to their own votes. In case of having more than one owner of a share, such shareholders may only exercise their voting rights through a representative.

Capital Market Regulations are complied with in voting and proxy voting.

c) Negotiations and Decision Quorum The General Assembly meetings and the quorum for meetings and resolutions to be held at these meetings shall be subject to the provisions of the Turkish Commercial Code and the Capital Market Law.

d) Finding the Ministry Representative in the General Assembly Meetings

In both ordinary and extraordinary meetings of the General Assembly, the presence of the relevant Ministry Representative and the minutes of the meeting must be signed with the related parties. Decisions to be taken at the General Assembly meetings to be held in the absence of the counterpart and meeting minutes which do not bear the signature of the representative are not valid.

 

e) Participation in General Assembly Meeting in Electronic Environment

The right holders who have the right to participate in the general assembly meetings of the Company may participate in these meetings in electronic environment pursuant to Article 1527 of the Turkish Commercial Code. In accordance with the provisions of the Regulation on General Assembly Meetings to be held in Electronic Environment in Joint Stock Companies, the Company may establish an electronic general assembly system that will allow the right holders to participate in electronic meetings, announce their opinions, make suggestions and vote, and may also purchase services from such systems. Pursuant to this provision of the articles of association, it is ensured that the rights holders and their representatives can exercise their rights stated in the provisions of the mentioned Regulation.

 

 

GENERAL ASSEMBLY MEETING PLACE ([17])

 

Article 18- This Article has been repealed.

 

AD([18])

 

Madde 19  – Şirkete ait ilanlar, Sermaye Piyasası Kurulu düzenlemelerine ve ilgili diğer mevzuat hükümlerine uygun olarak yapılır.

The financial statements and reports and the independent audit report to be prepared by the Capital Markets Board are announced to the public within the framework of the procedures and principles determined by the Board.

 

 

 

VOTING FORM ([19])

 

Article 20- This Article has been repealed.

 

AMENDMENT OF ARTICLES OF ASSOCIATION ([20])

 

Article 21- In accordance with the Capital Markets Law and the provisions of the Turkish Commercial Code, the Company's opinion on the amendments to the Articles of Association should be approved by the Energy Market Regulatory Authority.

The amendments to this path shall be effective as of the date of their declaration after they have been duly certified and registered in the Trade Registry.

ACCOUNTING PERIOD([21])

 

Article 22- The accounting period of the company shall be completed on the first day of January starting on the first day of January and the last day of December, but the first account year shall be exceptionally limited to the period between the date of final establishment of the company and the last day of December of that year.

 

AUDITING OF AKSU-ÇAYKÖY HYDRO ELECTRIC POWER PLANT ([22])

 

Article 23- The Ministry of Energy and Natural Resources belongs to Aksu-Çayköy Hydro Power Plant in accordance with the relevant legislation.

 

PROFIT DETECTION AND DISTRIBUTION ([23])

 

Article 24- The net period profit of the Company, which is computed at the end of the accounting period of the Company, the amounts required to be paid or separated by the Company such as general expenses of the Company and various depreciation and the taxes to be paid by the Company's legal entity and deducting the previous year's loss if any, then, respectively, as shown below:

 

a) In accordance with Article 519 of the Turkish Commercial Code, 5% shall be allocated to legal general legal reserve.

b) From the remaining amount, the first dividend shall be set at the rate determined by the General Assembly in accordance with the Turkish Commercial Code and the Capital Market Legislation.

c) After the above deductions have been made, 10% of the shareholders shall be allocated to A Group shareholders, 3% to the members of the Board of Directors and 2% to be distributed to civil servants and employees.

d) The amount remaining in the net profit for the period after deducting the amounts specified in (a), (b) and (c) is authorized to distribute the portion as a second dividend or to reserve as reserve for the general assembly.

General Legal Reserve:

e) After deciding to distribute 5% of the paid-in share capital, the tenth of the amount to be distributed to the shareholders participating in the profit is added to the general legal reserve in accordance with the relevant provisions of the Turkish Commercial Code. In the event that the dividend and / or the undistributed profits in the balance sheet are distributed as shares, the general legal reserve is not allocated.

Unless the reserves to be separated by law are separated, unless the dividend determined for the shareholders in the articles of association is distributed in cash and / or in the form of shares; other reserves, profit distribution to the following year and dividend distribution to the members of the Board of Directors, officers, employees and employees, dividends can not be decided.

 

The provisions of the Capital Market Legislation regarding the distribution of dividends shall be complied with. The time and date of distribution of the profit decided to be distributed shall be decided by the General Assembly upon the proposal of the Board of Directors.

 

PROFIT DISTRIBUTION DATE ([24])

 

Article 25- The General Assembly shall decide on the date and manner of distribution to the shareholders to be distributed to the shareholders upon the proposal of the Board of Directors within the framework of the Capital Market Law and related communiqués. Profits distributed in accordance with the provisions of this Articles of Association cannot be withdrawn.

 

SPARE PARTS ([25])

 

Article 26- The ordinary reserve fund allocated by the Company shall not be allocated to reserve fund after reaching 20% ​​of the capital of the company. However, if this amount decreases for any reason, it is possible to continue to reserve the reserve fund until this amount is reached. After the termination of the company period or before the termination or termination of all commitments, the reserve will be divided by the shares of the shareholders.

If the general reserve fund does not exceed half of the original capital, it may be used to take measures to prevent unemployment or to mitigate its consequences when the works are not going well.

 

TERMINATION AND TERMINATION OF THE COMPANY ([26])

 

Article 27- The Board of Directors may convene the General Assembly for any reason to discuss the termination or termination of the Company for any reason.

 

The Company may be annulled with the reasons stated in the Turkish Commercial Code or with the decision of the court.

If the Company is annulled or terminated for any other reason than bankruptcy, the dismissal officers shall be appointed by the General Assembly.

The manner and completeness of the levy treatment and the authorities and responsibilities of the subcontractors shall be determined in accordance with the statutory provisions.

 

LAW OF THE LAW ([27])

 

Article 28 - Any disputes between the company and its shareholders, which are to be arisen between the company and the shareholders, are handled according to the legal provisions of the company's head office.

 

 

 

 

 

 

 

TERMS OF ASSOCIATION AND TRANSFER ([28])

 

Madde 29-  Şirket diğer şirketlerle tüm aktif ve pasifiyle birlikte birleşebilir.Diğer bir şirketi devralabilir  Birleşme yada Devralma; Enerji Piyasası Düzenleme Kurumu Mevzuatı, Sermaye Piyasası Mevzuatı ve Türk Ticaret Kanunu’nun yürürlükteki hükümleri uyarınca yapılır. Bir veya birden fazla lisans sahibi tüzel kişinin kendi aralarında yada lisans sahibi tüzel kişiler ile lisans sahibi olmayan tüzel kişilerin, lisans sahibi bir tüzel kişi bünyesinde tüm aktif ve pasifleri ile birlikte birleşmek   istemeleri halinde, 4054 sayılı Rekabetin Korunması Hakkında Kanunun birleşme ve devralmaya ilişkin hükümleri saklı kalmak kaydıyla, birleşme izni hakkında Sermaye Piyasası Kurulu ve Enerji Piyasası Düzenleme Kurulundan onay alınması zorunludur.

When such approval is obtained, Mergers and acquisitions shall be concluded within one hundred and eighty days following the date of approval. Such merger agreement shall not contain provisions that would violate the rights and receivables of consumers or eliminate the debts of the company and shall cover the conditions required by the electricity market legislation.

 

FOUNDER COMMON LIST ([29])

 

Article 30 Aksu Energy and Trade Joint Stock Company on 11.18.1985 organization and registered on 11.21.1985 No. 1391 Turkey has been announced in the Trade Registry Gazette.

 

LEGAL PROVISIONS([30])

 

Article 31- The provisions of the Turkish Commercial Code, the Capital Market Law and other relevant legislation shall apply to matters not covered by this Articles of Association.

The Corporate Governance Principles, which are made obligatory by the Capital Markets Board, are complied with. The transactions made and the resolutions of the board of directors taken without complying with the obligatory principles are invalid and deemed to be contrary to the articles of association.

The regulations of the Capital Markets Board regarding corporate governance shall be complied with in transactions that are deemed important for the implementation of the Corporate Governance Principles and in all related party transactions of the company and in the transactions related to the issuance of guarantees, pledges and mortgages in favor of third parties.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[2]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[3]  Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[4] 11.03.2000 Date of Ordinary General Assembly Meeting dated 29.03.2000 and dated 05.04.2000 5017

published in the trade registry newspaper

[5]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[6] 12.07.2021 Tarihli  Olağan Genel Kurul toplantısında kabul edilip 16.07.2021 tarihinde tescil edilerek 16.07.2021 tarih 10371  sayılı ticaret sicil gazetesinde yayımlanmıştır.

[7]  11.03.2000 Date of Ordinary General Assembly Meeting dated 29.03.2000 and dated 05.04.2000 5017

It is published in the Trade Registry Gazette.

[8] 30.11.1999 Accepted at the Extraordinary General Assembly Meeting and registered on 30.11.1999 and dated 03.12.1999.

published in the trade registry newspaper

[9] It was registered in the foundation contract on 18.11.1985 and was published in the Trade Registry Gazette dated 21.11.1985 and numbered 1392.

[10]   04.05.2017 It was accepted in the Ordinary General Assembly meeting and registered on 15.05.2017 and published in the Trade Registry Gazette dated 15.05.2017 and numbered 9326.

[11]  27.04.2012 Accepted at the Ordinary General Assembly Meeting and registered on 30.04.2012 and dated 07.05.2012

It was published in the Trade Registry Gazette numbered 8062.

[12] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[13] 15.04.2013 Accepted at the Ordinary General Assembly Meeting and registered on 22.04.2013 and dated 30.04.2013

It was published in the Trade Registry Gazette numbered 8310.

[14] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[15] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[16]  15.04.2013 Accepted at the Ordinary General Assembly Meeting and registered on 22.04.2013 and dated 30.04.2013

Published in Trade Registry Gazette No 8310

[17] 15.04.2013 Accepted at the Ordinary General Assembly Meeting and registered on 22.04.2013 and dated 30.04.2013

It was published in the Trade Registry Gazette numbered 8310.

[18] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[19]  Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[20]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[21] It was registered in the foundation contract on 18.11.1985 and was published in the Trade Registry Gazette dated 21.11.1985 and numbered 1392.

[22] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[23]  15.04.2013 Accepted at the Ordinary General Assembly Meeting and registered on 22.04.2013 and dated 30.04.2013

It was published in the Trade Registry Gazette numbered 8310.

[24]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[25] 14.07.2006 It was accepted at the Extraordinary General Assembly Meeting and registered on 18.07.2006.

It is published in the Trade Registry Gazette.

[26] It was registered in the foundation contract on 18.11.1985 and was published in the Trade Registry Gazette dated 21.11.1985 and numbered 1392.

[27] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[28] Approved at 12.02.2011 Extraordinary General Assembly Meeting and registered on 14.02.2011 and dated 21.02.2011

It was published in the Trade Registry Gazette numbered 7756.

[29]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.

[30]  27.04.2012 It was accepted at the Ordinary General Assembly Meeting and it was registered on 30.04.2012 and published in the Trade Registry Gazette numbered 8062 on 07.05.2012.