[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_RelatedPartyTransactionsAbstract|
Related Party Transactions
oda_UpdateAnnouncementFlag|
Update Notification Flag
Hayır (No)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
-
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|
Pursuant to the Capital Markets Board's Corporate Governance Communiqué published in the Official Gazette, which came into force on January 3rd, 2014, Audit Committee prepared report about the "Common and Continuous Related Party Transactions", which is expected to take place in 2024, so as to assess the applicability in the report dated April 26th 2024, has been accepted by the Board. The conclusion part of the report has been submitted for your information as follows.

Conclusion Section of the Report Regarding the Foreseen Common and Continuous Related Party Transactions in 2024:

Pursuant to Article 10 of the Capital Markets Board's "Corporate Governance Communiqué" numbered II-17.1, the calculation of the expected amounts of the Company's purchases and sales under our Company's common and continuous product purchase and sales transactions from and to either MacDermid Performans Solutions Kimyasal Sanayi ve Ticaret A.Ş.  or Coventya Kimya Sanayi ve Ticaret A.Ş. within the 2024 accounting period is based on the collective evaluation of past transactions of the same nature.

The conditions of the same type of transactions, which are expected to continue with similar conditions until the end of 2024, the price determination method and the reasons for choosing this method, have been explained herein and information has been provided about compliance of the Company's expected related party transactions with applicable market conditions.

Based on the amount of revenue in 2023 as outlined in the 2023 financial statements, which are the Company's latest annual financial statements, Politeknik Metal Sanayi ve Ticaret A.Ş. expects that the Company's total sales to the related parties within the Element Solutions Inc. group will exceed the relevant thresholds specified in the Communique 10% of its projected revenues in 2024.

Based on the cost of sales in 2023 as outlined in the 2023 financial statements, which are the Company's latest annual financial statements, Politeknik Metal does not expect that the Company's total purchases from related parties within the Element Solutions Inc. group will exceed the relevant thresholds specified in the Communique 10% of its projected cost of sales in 2024.

Politeknik Metal Sanayi ve Ticaret A.Ş. believes that evaluating the prices applied in the sale transactions made by Politeknik Metal to related parties within the Element Solutions Inc. group is reasonable and consistent with market conditions. No situation contrary to the arm's length principle has been detected regarding such anticipates sales.

This statement has been translated into English for information purposes only. In the event of a contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.