At the meeting of Board of Directors that was held on June 12th, 2018; it was decided to sell Kartal Land, parcel no 395 having an area of 1.204,05 sqm for a value of TL 4,5 million to Rüstem Eyüboğlu Eğitim Kurumları A.Ş.. The sale price will be paid in advance at the date of transferring the title deed.
General manager of the Company, Mr. Turgay Tanes, will retire as of June 11th, 2018. At the meeting of Board of Directors which was held on June 8th, 2018 it was decided to assign Mr. Hasan Kimya Bolat as the new general manager of the Company.
The sale process of Ankara Ulus Office Building to İşbank at a price of TL 58,864,300 (including VAT) has been completed.
At the meeting of Board of Directors that was held on May 3, 2018, it was decided to sell Ankara Ulus Office Building (located in Ankara) at a value of TL 49,9 million + VAT to İşbank. The sale price will be paid in advance at the date of transferring the title deed. Our Company expects to realize approximately TL 36,2 million profit according to legal records and approximately TL 2 million profit according to IFRS from the sale.
The operations regarding the allocation of stock dividend will start on 04/05/2018.
The necessary permission regarding the capital increase amounting TL45 mn by stock dividend has been granted from Capital Markets Board of Turkey.
At the meeting of Board of Directors which was held on April 4th, 2018; it was decided to apply to the Capital Markets Board for increasing Company's current issued capital from TL 913,75 mn to TL 958,75 mn, in accordance with the profit distribution proposal approved in the General Assembly Meeting dated March 21th, 2018 regarding the distribution of TL 45 mn from 2017 year profit to shareholders as stock dividend. The shares to be issued for the capital increase will be distrubuted as stock dividend to the shareholders in proportion of their shares in the Company’s capital.
At the meeting of Board of Directors which was held on March 28th, 2018, in accordance with the Communiqué II-17.1 on Corporate Governance Principles, it was decided
Mr. Ömer Karakuş and Mr. Süleyman H. Özcan was elected as the Chairman of the Board of Directors and as the Vice Chairman, respectively.
Ordinary General Assembly Meeting was held on 21 March, 2018, at 10:00, in İş Sanat Kültür Merkezi İş Kuleleri Levent–Beşiktaş/İstanbul. In the general assembly meeting;
Additionally; the shareholders were informed that, the Company made no donations in 2017 and they’re also informed in accordance with the principle 1.3.6 of the Corporate Governance Principles and Article 37 of Communiqué III-48.1.
At the meeting of Board of Directors which was held on March 20, 2018, it was decided to add Prof.Dr. Ms. Arzu Erdem, Mr. Haluk Büyükbaş, Mr. Nihat Uzunoğlu and Mr. Gürbüz Bektaş to independent board member nominees list. Company’s Corporate Governance Committee assessed that; Prof. Dr. Ms. Arzu Erdem, Mr. Haluk Büyükbaş, Mr. Nihat Uzunoğlu and Mr. Gürbüz Bektaş bear the independence criterias pursuant to Communiqué (II.17.1) on Corporate Governance.
For the list of Board Member Nominees please click here.
25,756 sqm area in Ankara İş Tower, has been leased to Republic of Turkey Ministry of Interior for TL 373,462 + VAT/per month. With this leasing transaction; the occupancy rate of Ankara İş Tower reaches to 100% and ISGYO’s total annual rental income from Ankara İş Tower becomes TL 5,3 million excluding VAT. (The total monthly appraisal rent of Ankara İş Tower is TL 455,000 + VAT.)
ISGYO’s Ordinary General Meeting will be held on 21st March 2018, Wednesday at 10:00 at the address of İş Sanat Kültür Merkezi, İş Kuleleri Beşiktaş-Levent/İstanbul.
In the Board of Directors’ meeting dated 24.02.2017, Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi (a member firm of Ernst&Young Global Limited), which was proposed by the Audit Committee, was chosen as the auditor for 3 year period as of 31.03.2017.
Please find attached the estimated development costs for Tuzla Residential and Kadıköy Hotel Projects.
At the meeting of Board of Directors dated 16 January 2018, it was decided that; according to “Communiqué on Principles Regarding Real Estate Investment Companies” about the “Selection of Real Estate Appraisal Company”;
All the appraisal companies are CMB authorized local companies. For detailed information about each property and the related appraisal company please click here.
The estimated project development cost (including land value) of Tuzla Residential Project that will be developed in Tuzla, İstanbul is TL 680-700 mn. The estimated project development cost of Kadıköy Hotel Project (our Company has 45% share in the project) which will be developed in Kadıköy, İstanbul is TL 135-140 mn (our Company’s share). Our Company has not arrenged the tenders for the construction work in both projects, so the given developments costs are the estimations of our Company and may be updated after the realization of tenders.
The value of the annual rent (excluding VAT) regarding the rental agreements signed in 2017 is TL 33 million. Total sales volume realized in 2017 in Ege Perla, Manzara Adalar and İnistanbul Residential Projects is TL 310 million (excluding VAT).
Public Disclosures between 1999-2009 click here.