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Cash Dividend Payment Amount and Rates
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Cash Dividend Payment Time Interval
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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By the resolution dated March 12, 2025, numbered 2025/06, our Board of Directors has resolved as follows:
Following discussions, and taking into account the relevant provisions of the Turkish Commercial Code ("TCC"), Capital Markets Legislation, the regulations of the Capital Markets Board ("CMB"), Corporate Tax Law, Income Tax Law, and other applicable legislation, as well as the relevant provisions of the Company's Articles of Association, the Company's Profit Distribution Policy, and the Capital Markets Board's resolution dated March 7, 2024 (published in the CMB Bulletin No. 2024/14, Resolution No. 14/382), the following determinations and decisions were made:
Pursuant to CMB's Communiqué II-14.1 on Principles Regarding Financial Reporting in Capital Markets and in accordance with Turkish Accounting Standards ("TAS") and Turkish Financial Reporting Standards ("TFRS"), as published by the Public Oversight, Accounting, and Auditing Standards Authority ("POA"), the consolidated financial statements for the fiscal period from January 1, 2024, to December 31, 2024, which were prepared in compliance with the 2024 TFRS Taxonomy approved by the POA on July 4, 2024, and audited by an independent auditor, reflect a "Net Profit for the Period" of TRY 834,410,071 after considering the Deferred Tax Expense and Current Tax Expense. After deducting General Legal Reserves of TRY 20,124,817.28, as required under Article 519(1) of the TCC, and adding donations made in 2024 totaling TRY 19,698,495, the Net Distributable Profit for the Period for the fiscal year 2024 amounts to TRY 833,983,748.72.
According to the financial statements prepared under Tax Legislation, as a result of the inflation adjustment applied to the balance sheet as of December 31, 2024, the "Retained Earnings/(Losses)" account, which includes the current year's profit of TRY 402,496,345.67, reflects a negative balance of TRY 2,495,886,015.47. The negative balance of TRY 2,495,886,015.47 is offset by the Inflation Adjustment Differences related to Equity Accounts. Accordingly, in the financial statements prepared under the Tax Procedure Law ("VUK"), the Net Profit for the Period is TRY 402,496,345.67.
Based on the Legal Accounting Records maintained in accordance with Tax Legislation and the Uniform Chart of Accounts ("General Communiqué on Accounting System Implementation") issued by the Ministry of Treasury and Finance, after deducting the "Current Tax Expense", the Net Profit for the Period for the fiscal year 2024 is TRY 402,496,345.67. After deducting General Legal Reserves of TRY 20,124,817.28, in accordance with Article 519(1) of the TCC, the Net Distributable Profit for the Period amounts to TRY 382,371,528.39.
Accordingly, it has been resolved that:
The Legal Accounting Records for the fiscal year January 1, 2024 – December 31, 2024 shall be taken as the basis for the profit distribution,
From the Net Distributable Profit for the Period of TRY 382,371,528.39, recorded in the Legal Accounting Records, a first dividend amounting to TRY 27,000,000.00 (equal to 5% of the issued capital) shall be distributed,
In accordance with Article 519(2)(c) of the TCC, an additional General Legal Reserve of TRY 35,537,152.84 shall be allocated, followed by the distribution of a second dividend of TRY 144,000,000.00,
In this framework, subject to the applicable rounding rules of the Central Securities Depository (Merkezi Kayıt Kuruluşu A.Ş.) at the time of the dividend distribution, a total gross dividend of TRY 171,000,000.00 (corresponding to 31.67% of the issued capital) shall be distributed, with a net cash dividend of TRY 145,350,000.00. The dividend distribution shall commence no later than December 31, 2025,
In accordance with the regulations of the CMB and POA, after allocating the statutory and special reserves required under TAS and TFRS, the undistributed portion of TRY 607,748,100.88 from the consolidated financial statements shall be transferred to the "Retained Earnings/(Losses)" account,
Similarly, after the allocation of the statutory reserves required under the Legal Accounting Records, the undistributed portion of TRY 175,834,375.55 shall be transferred to the "Retained Earnings/(Losses)" account,
These matters shall be submitted for approval at the General Assembly Meeting.
This statement has been translated into English for informational purposes. In the event of any discrepancy between the Turkish and English versions of this disclosure statement, the Turkish version shall prevail.
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DIVIDEND DISTRIBUTION TABLE
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GALATA WIND ENERJİ A.Ş. 01.01.2024/31.12.2024 Period Dividend Payment Table (TL)
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Dividend Payment Rates Table
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Dividend Rate Table Explanations
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