Turkcell Extraordinary General Assembly Dated October 12, 2011

Oct 12, 2011, 19:14 ET from Turkcell

ISTANBUL, October 13, 2011 /PRNewswire/ --

 

Subject: Statement made pursuant to Circular VIII, No: 54 of the Capital Markets Board

Special Subjects:

Turkcell (NYSE: TKC, ISE: TCELL), the leading communications and technology company in Turkey, held its Extraordinary General Assembly of shareholders at the Company's headquarter at 3.00 pm on October 12, 2011. It subsequently announced today that among the agenda items and as a result of the voting held during the meeting:

  1. Among our Board members, Colin J. Williams was not released in respect of the Company's activities and operations of the fiscal year 2010, whereas Gulsun Nazlı Karamehmet Williams, Mehmet Bulent Ergin, Alexey Khudyakov, Oleg Malis, Tero Erkki Kivisaari and Karin Eliasson were each individually released.
  2. Agenda item pertaining to "removing one or more than one of the members of the Board of Directors and election of new members in lieu of those removed; and determination of their remuneration" was not put to the vote as per the opinion of the Government Commissioners, based on the reason that the agenda item does not comply with the decree law No: 654 dated  October 11, 2011 and Capital Market Board's communiqué Serial: IV, No:54 pertaining to "Determination and Implementation of Corporate Governance Principles".
  3. Since the Balance Sheet and Profits/Loss statements relating to fiscal year 2010 were not approved, the Board of Directors' recommendation to distribute a dividend of 75% from the fiscal year 2010 profits was not put to the vote.

The shareholders, who were present, expressed the wish that the Board of Directors implement the legislation, dated October 11, 2011 with regards to corporate governance principles as soon as possible.

http://www.turkcell.com.tr

ABOUT TURKCELL

Turkcell is the leading communications and technology company in Turkey with 34.1 million subscribers and a market share of approximately 54% as of June 30, 2011 (Source: Operator's announcements and excluding the impact of the change in prepaid churn periods in Q2 2011). Turkcell is a leading regional player, with market leadership in five of the nine countries in which it operates with it's approximately 61.7 million subscribers as of June 30, 2011. The company covers approximately 85% of the Turkish population through its 3G and 99.07% through its 2G technology supported network. It has become one of the first among the global operators to have implemented HSDPA+ and achieved a 42.2 Mbps speed using the HSPA multi carrier solution. Turkcell reported a TRY2.3 billion (US$1.5 billion) net revenue with total assets of TRY15.5 billion (US$9.5 billion) as of June 30, 2011. It has been listed on the NYSE and the ISE since July 2000, and is the only NYSE-listed company in Turkey.

Read more at http://www.turkcell.com.tr

For further information please contact Turkcell

Corporate Affairs Koray Öztürkler, Chief Corporate Affairs Officer Tel: +90-212-313-1500 Email: koray.ozturkler@turkcell.com.tr Investors:                             Nihat Narin, Investor and International Media Relations                         Tel: + 90-212-313-1244                           Email: nihat.narin@turkcell.com.tr                   investor.relations@turkcell.com.tr Media: Filiz Karagul Tuzun, Corporate Communications Tel: + 90-212-313-2304 Email: filiz.karagul@turkcell.com.tr

SOURCE Turkcell