Kuyas Investment is going for a share purchase program in order to eliminate the negative effects that price movements in the traded shares may have on investors in the short term, to protect the value of the investments of all shareholders and to support price stability in the Company’s share value.
Kuyas Investment’s statement on the subject was published on the public disclosure platform. the following information was included in the statement.
“With the decision of Kuyas Investment AŞ board of directors dated 22.12.2023,
In addition to the fund amounting to TL 50,000,000 that we had previously set aside for repurchase on 07.02.2023,
In order to eliminate the negative effects that the price movements in our Company’s shares traded on Borsa Istanbul A.Ş. (“Borsa Istanbul”) may have on our investors in the short term, to protect the value of the investments of all our shareholders and to support the price stability in our Company’s share value, and also in accordance with the announcements of the Capital Markets Board dated 21. 07.07.2016, 25.07.2016 and 23.03.2020 dated announcements of the Capital Markets Board and in accordance with the Capital Markets Board Resolution No. 9/177 dated 14.02.2023, it has been decided to initiate the KUYAŞ share buy-back program up to a maximum of TL 150,000,000 in accordance with Article 5.5 of the Communiqué on Buy-Back Shares (II-22.1).
It has been unanimously decided to initiate the repurchase of the Company’s shares from the Stock Exchange, to determine the total maximum fund amount to be TL 200,000,000 together with the previous repurchase amounts to be covered from the internal resources of the company, to determine the maximum number of shares to be repurchased in a way not to exceed this amount, and to make the necessary public disclosures during the program process.
To authorize the General Directorate to execute the buy-back transactions,
It has been unanimously resolved that the repurchase transactions to be carried out within the scope of this Board of Directors be included in the agenda of the first General Assembly meeting to be held and submitted to the information of the shareholders at the General Assembly.”