2022

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• About Tuzla Residential Project (16.05.2022)

  It was decided to continue the investment processes in Tuzla Residential Project, which was postponed with the relevant decision of the Board of Directors.

• Election of Committee Members (06.04.2022)

  At the meeting of Board of Directors which was held on March 23rd, 2022, in accordance with the Communiqué II-17.1 on Corporate Governance Principles, it was decided

  • to elect Prof. Oğuz Cem Çelik as the Chairman of the “Corporate Governance Committee” whereas Mr. İlkay Arıkan, Mr. Kubilay Aykol, Mr. Murat Doğan and Ms. Ayşegül Şahin Kocameşe as the committee members,
  • not to establish Nominating Committee and Remuneration Committee since the functions of these committees will be performed by the Corporate Governance Committee.
  • to elect Mr. Prof. Arzu Erdem as the Chairman of the “Committee for Early Recognition of Risk” whereas Mr. Kubilay Aykol and Mr. Murat Doğan as the committee members,

  to elect Mr. İlkay Arıkan as the Chairman of the “Committee for Audit” and Prof. Arzu Erdem as the committee member.

• Notification Regarding Registered Capital Ceiling Transactions (05.04.2022)

  Within the scope of updating our Company's current registered capital ceiling, the changes made in Article 7 of the Company's Articles of Association, titled "Capital and Share Certificates", were registered on 04.04.2022.

• About Registration of Ordinary General Assembly Results (05.04.2022)

  The results of the Ordinary General Assembly Meeting of our Company held on March 23, 2022 were registered on April 04, 2022.

• Extraordinary Price and Quantity Movements (01.04.2022)

  Our statement regarding the request of Borsa İstanbul A.Ş. related to the extraordinary price and quantity movement dated 01/04/2022 and numbered E-18454353-100.06-7813 is given below. Regarding the extraordinary price and quantity movements on our company's stocks, there is no special event that has not been disclosed to the public, within the scope of Article 8, titled "Extraordinary Price and Quantity Movements", of the Capital Markets Board's Special Conditions Communiqué (II-15.1).

• Extraordinary Price Movements (01.04.2022)

  Our statement regarding the request of Borsa İstanbul A.Ş. related to the extraordinary price and quantity movement dated 01/04/2022 and numbered E-18454353-100.06-7813 is given below.

  Regarding the extraordinary price and quantity movements on our company's stocks, there is no special event that has not been disclosed to the public, within the scope of Article 8, titled "Extraordinary Price and Quantity Movements", of the Capital Markets Board's Special Conditions Communiqué (II-15.1).

• Choose of the Independent Audit Company (23.03.2022)

  Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. was approved by the General Assembly as independent auditor for the financial year of 2022.

• Delegation of Authority in Board of Directors (23.03.2022)

  At the meeting of Board of Directors held on March 23, 2022; Mr. Sezgin Yılmaz was elected as the Chairman of the Board of Directors and Mr. Kubilay Aykol was elected as the Deputy Chairman of the Board of Directors.

• Result of Ordinary General Assembly Meeting of 2021 (23.03.2022)

  Regarding The Result of Ordinary General Meeting:

  Ordinary General Assembly Meeting regarding 2021,was held on 23 March, 2022, at 10:00, in İş Sanat Kültür Merkezi İş Kuleleri Levent–Beşiktaş/İstanbul. In the general assembly meeting;

  • The financial statements of the year 2021 were approved.
  • The new appointment as Member of the Board of Directors was approved.
  • The Board Members were discharged for their activities in 2021.
  • Board of Directors' proposal concerning the distribution of 2021 operating profits were approved exactly as it was. The proposal suggests not distributing dividends.
  • Sezgin Yılmaz, Mr. Murat Karluk Çetinkaya, Mr. Hasan Kimya Bolat, Mr. Özcal Korkmaz, Mr. Kubilay Aykol, Mr. Murat Doğan, Ms. Prof. Arzu Erdem, Mr. Prof. Oğuz Cem Çelik and Mr. İlkay Arıkan were elected as board members for 1 year period.
  • Beginning from 01.04.2022, monthly remuneration to be paid to the Board members was determined as gross TL 22,750.
  • Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. was approved by the General Assembly as independent auditor for the financial year of 2022.
  • The Board Members were authorized for carrying out the transactions provided under the Articles 395 and 396 of the Turkish Commercial Code.
  • The extension of the registered capital ceiling period for the new upper limit amount and the amendments made in Article 7 of the Company's Articles of Association, titled “Capital and Share
  • Certificates” in this context were approved.
  • The Company’s donation limit for 2022 was determined as TL 500,000.

  Additionally; the shareholders were informed that, the Company made no donations in 2021, they’re also informed in accordance with the principles 1.3.6. and Principles and Article 37 of the Communiqué III-48.1.

• Regarding Independent Board Member Nominees (17.03.2022)

  At the meeting of Board of Directors which was held on March 17, 2022, it was decided to add Ms. Nilgün Türeoğlu, Prof. Arzu Erdem, Prof. Oğuz Cem Çelik and Mr. İlkay Arıkan to independent board member nominees list. Company’s Corporate Governance Committee assessed that; Ms. Nilgün Türeoğlu, Prof. Arzu Erdem, Prof. Oğuz Cem Çelik and Mr. İlkay Arıkan bear the independence criterias pursuant to Communiqué (II.17.1) on Corporate Governance.

• Regarding Altunizade Residential Project (11.03.2022)

  It has been learned that a lawsuit has been filed in Istanbul 6th Administrative Court against The Ministry of Environment, Urbanization and Climate Change and Üsküdar Municipality with the request for the cancellation of the zoning plans and the building permits for the region where Altunizade Residential Project, in which our company has 50% share, is located. Our company is not a direct party to the lawsuit, and substantial developments regarding our project will be shared with the public within the scope of the lawsuit process.

• Principal Payment of Corporate Bill TRFISGY32217 (07.03.2022)

  Principal payment of Corporate Bill TRFISGY32217 has been made.

• Completion Of Corporate Bond Issuance To Qualified Investors TRSISGY32319 (25.02.2022)

  Our company has completed the issuance of a bond with a nominal value of TL 90.000.000 a maturity of 370 days and a single coupon payment at the end of maturity, which has been offered for sale to qualified investors. The maturity start date of the bond is 25.02.2022 and the coupon interest rate is set at 21.4904%.

• Call for Ordinary General Assembly Meeting & BoD’s Dividend Distribution Proposal (24.02.2022)

  ISGYO’s Ordinary General Assembly Meeting for the accounting period 2021 will be held at the address of İş Sanat Kültür Merkezi İş Kuleleri Levent-Beşiktaş/Istanbul at 10:00 on Wednesday, 23 March 2022.

  The Board of Directors’ Dividend Distribution Proposal, prepared in accordance with the CMB Regulations, Company’s Profit Distribution Policy and Company’s Articles of Association, that suggests;

  • not distributing dividends aiming to optimize the cash flows since the Company is in investment period and
  • transferring the remaining amounts from the profits prepared according to the Tax Procedure Law and the CMB regulations to extraordinary reserves and retained earnings respectively, after the allocation of the primary legal reserve pursuant to the regulation from the profits prepared according to the Tax Procedure Law and the CMB regulations will be submitted to the approval of the General Assembly.

• The Application to Capital Markets Board for Issue Debt Instruments (09.02.2022)

  Our Company has applied to Capital Markets Board regarding the issuance of debt instruments worth up to TL 3 billion with a maturity up to 1.200 days. The issued instruments will be sold to qualified investors or sold through private placement without being offered to the public.

• The Application to Capital Markets Board for Issue Debt Instruments (07.02.2022)

  It was unanimously decided to authorize the Head Office regarding the issuance of debt instruments worth up to TL 3 billion with a maturity up to 1.200 days. The issued instruments will be sold to qualified investors or sold through private placement without being offered to the public.

• Permission from Republic of Türkiye Ministry of Trade (04.02.2022)

  Necessary permission for the amendment of Article 7 of Articles of Association named “Capital and Share Certificates” has been taken from Republic of Turkey Ministry of Trade. The amendment of Article 7 will be submitted to the approval of General Assembly.

• Regarding the Registry Transaction of Çekmeköy-Ömerli Land (04.02.2022)

  The land registry transaction regarding 72.609 sqm land owned by Anadolu Hayat Emeklilik A.Ş. located in Çekmeköy, İstanbul, has been completed and the ownership of the real estate passed to our Company.

• Selection of the Real Estate Appraisal Companies (31.01.2022)

  At the meeting of Board of Directors dated 31 January 2022, it was decided that; according to “Communiqué on Principles Regarding Real Estate Investment Companies” about the “Selection of Real Estate Appraisal Company”;
  
  “Net Kurumsal Gayrimenkul Değerleme ve Danışmanlık A.Ş.”, “Reel Gayrimenkul Değerleme A.Ş.”, “Harmoni Gayrimenkul Değerleme ve Danışmanlık A.Ş.” were selected to take service for the valuation of each asset in our current portfolio,
  
  “Reel Gayrimenkul Değerleme A.Ş.” or “Harmoni Gayrimenkul Değerleme ve Danışmanlık A.Ş.”were selected to take service for the valuation of the assets which will be purchased and need appraisal during the year 2022.
  
  All the appraisal companies are CMB authorized local companies. For detailed information about each property and the related appraisal company please click here.

• Public Disclosure in accordance with the Article 37 (37/2) of Communiqué On Principles Of Real Estate Investment Companies (31.01.2022)

  It is a statement made in accordance with Article 37/2 of Communiqué On Principles Of Real Estate Investment Companies of the Capital Markets Board.
  
  By the end of 2021, comparing the annual appraisal rental income corresponding to the average occupancy on an annual basis, the rental income of Ege Perla Shopping Center, Kule Çarşı and Tuzla Meydan Çarşı in our portfolio, has been realized below the appraisal rent due to the ongoing effects of the coronavirus epidemic.
  The total rental appraisal fee of the mentioned assets for 2021 is TL 9,5 million, excluding VAT and the total rental income of these assets for 2021 is TL 7,5 million, excluding VAT. Additionally, in Ege Perla Shopping Center, the rental income of Paşabahçe store and ATM which have been leased to related parties, has been realized below the appraisal rental value.
  
  The relevant matter will be put on the agenda of the first general assembly meeting to be held, and shareholders will be informed.

• CMB Approval Regarding Authorised Capital (24.01.2022)

  Necessary permission has been taken from CMB regarding the increase of authorised capital amounting TL 7.000.000.000 to be valid between 2022-2026 and the amendment of the “Article 7 Capital and Share Certificates” of Articles of Association in accordance with the new authorised capital ceiling.

• Regarding Purchase of Çekmeköy/Ömerli Land (18.01.2022)

  In accordance with the Company’s investment strategy regarding residential sector; at the meeting of Board of Directors that was held on January 18th, 2022, it was decided to purchase the 72.609 sqm land located in Çekmeköy, İstanbul owned by Anadolu Hayat Emeklilik A.Ş. for a value of TL 130 million. The Company plans to develop a residential project that will be the continuation of Company’s ongoing Kasaba Evleri Residential Project in the same location.

• Principal Payment of Corporate Bill TRFISGY12219 (14.01.2022)

  Principal payment of Corporate Bill TRFISGY12219 has been made.

• Public Disclosure in accordance with the Article 40 (40/3/ç) of Communiqué On Principles Of Real Estate Investment Companies (12.01.2022)

  In accordance with the Article 40 (40/3/ç) of Communiqué On Principles of Real Estate Investment Companies, within the scope of the collective notification of purchase, sale or leasing transactions not exceeding 2% of total assets in our latest financial statements; in 2021 land purchase amounting approximately TL 7,9 million + VAT and unit sales in real estate projects amounting approximately TL 350,8 million + VAT were realized. Also, the total value of the annual rent regarding the rental agreements signed in 2021 (including renewals) is approximately TL 65,7 million + VAT.

• Completion Of Corporate Bill Issuance To Qualified Investors TRFISGY32217 (06.01.2022)

  Our Company has completed the book building of the corporate bill with a nominal value of TRY 135.000.000 and term of 60 days to qualified investors.

Public Disclosures between 1999-2009 click here.