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English
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Hayır (No)
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Hayır (No)
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16.05.2024
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Hayır (No)
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Pursuant to the Company's Principles Regarding Related Party Transactions, at the beginning of each fiscal year, the Continuous Related Party Transactions foreseen to be realized for the relevant fiscal year are subject to the approval of the Board of Directors, and the summary of the content of the said board resolution, which does not bear the characteristics of a trade secret, must be disclosed to the public.
Furthermore, in addition to the Board of Directors' resolution, if it is foreseen that the amount of widespread and continuous transactions between the Company and its related parties in an accounting period will reach 10% or more of the ratio of the cost of sales in the last annual financial statements for purchase transactions and 10% or more of the ratio of the revenue amount in the last annual financial statements for sales transactions, a report should be prepared regarding the terms of the transactions and their comparison with market conditions and the conclusion part of the relevant report should be disclosed to the public.
In this regard, with the decision of our Board of Directors dated August 22, 2024 and numbered 2024/22, the conclusion part of the report prepared by our Board of Directors is stated below.
2024 Board of Directors' Report on Related Party Transactions for the Fiscal Year 2024 Conclusion Section:
Turkish transfer pricing legislation and OECD Guidelines state that transactions between related parties should comply with the arm's length standard.
Based on the Company's Related Party Transactions Policy and Article 10 of the Capital Markets Board (CMB) Communiqué Serial II.17.1 (Communiqué);
The ratio of the amount of our Company's common and continuous purchase transactions with related parties in the accounting period 01.01.2024 - 31.12.2024 to the cost of sales in the previous year's financial statements is not expected to exceed 3% according to the company policy and 10% according to the aforementioned related article of the Communiqué.
The ratio of the amount of our company's widespread and continuous sales transactions with Aydem EPSAŞ in the accounting period 01.01.2024 - 31.12.2024 to the revenue in the previous year's financial statements is expected to exceed 3% according to the company policy and 10% according to the relevant article of the Communiqué mentioned above.
The amount of the Company's widespread and continuous sales transactions with other related parties in the accounting period 01.01.2024 - 31.12.2024 is not expected to exceed 3% according to the company policy and 10% according to the relevant article of the Communiqué mentioned above.
The intra-group transactions of the Company, including the transactions exceeding the thresholds specified in the Principles, are tested with the transfer pricing methods determined by the Turkish transfer pricing legislation and detailed information about the transfer pricing methods applied in determining the prices and prices used in these transactions is given in the relevant sections of the report.
In this report; the conditions of the transactions made with the related parties mentioned above in 2024, the price determination methods and the reasons for choosing these methods are explained and information about the compliance of the transactions with market conditions is presented.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
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