The Capital Markets Board (CMB) announced that companies whose shares are traded on the stock exchange and their subsidiaries can initiate a share buyback program by decision of the board of directors without the need for a general assembly decision to be presented to the shareholders at the first general assembly meeting to be held. In the announcement made by the CMB, it was stated that recent developments in the Turkish capital markets have been closely monitored and it was deemed appropriate to announce certain issues to the public until a second announcement is made. The statement conveyed that companies whose shares are traded on the stock exchange and their subsidiaries can start a share buyback program by decision of the board of directors without the need for a general assembly decision to be presented to the shareholders at the first general assembly meeting, the following was recorded: “The purpose of the buyback, the envisaged maximum duration of the buyback program, the maximum number of shares to be bought back, the maximum amount of funds to be used should be included in the board of directors’ decision to be taken, and this board of directors’ decision must be disclosed to the public within the framework of the regulations regarding the special disclosures of the Board. Publicly traded companies and their subsidiaries with an existing buyback program can continue under the conditions specified in this decision without the need for an additional board of directors’ decision. In share repurchases made in line with the principle decision, the limits set in the first paragraph of Article 9 of the Communiqué on Repurchased Shares No. II-22.1 (10% of the capital) and the daily transaction limit set in paragraph (c) of Article 15 (25% of the average transaction volume of the last 20 days) shall not be applied, paragraphs one to four of Article 12 and the second paragraph of Article 19 shall not be applied, and it has been decided that share buyback-sale is limited to cash increases in capital increase periods according to the second paragraph of Article 10. It was stated in the announcement that shares taken back under the principle decision cannot be sold for a period of 30 days from the date of repurchase, and the “first in, first out” method will be applied in calculating the 30-day period. After the expiration of this period, the relevant shares must be sold within a maximum of three years or can be held in compliance with the limitations of the Communiqué.”