PROFIT DISTRIBUTION POLICY
First of all, Our Company aims to grow by expanding present production areas and operational plants, to make strategic investments for the new gold fields and weighing on exploration activities with current exploration licenses. Within this scope, company targets to meet these investments from the cash generated from these production areas.
Within the framework of strategic targets, growth trend, investment policies, profitability and cash position, the provisions of Turkish Trade Act, Capital Market Procedures, Taxation Procedures and relevant clauses of Articles of Association stipulating distribution of dividend, our Company will distribute dividend as cash and/or bonus shares at the minimum dividend distribution rate as defined by Capital Market Board. Profit share to be distributed along the decision taken at the General Meeting, may be in form of cash or fully unpaid or may be determined to be in form of partially cash and unpaid shares.
it is always possible for the Board of Management to take a decision and submit it to General Board meeting for approval to distribute profit above the minimum rate.
When a decision is made by the Assembly for distribution of profit share, the payments will be effected within the period specified by the relevant regulation.
According to the financial reports prepared in line with UFRS, and as the result of Company’s annual activities, recommendation will be made to General Assembly to distribute dividends to the members of the Board of Management, representing Group A shareholders, within Company’s performance, as follow:-
- 2% of net distributable term profit, if net term profit is under 400 million TL,
- 3% of net distributable term profit, if net term profit is between 401 million TL, and 450 million TL,
- 4% of net distributable term profit, if net term profit is between 451 million TL, and 500 million TL,
- 5% of net distributable term profit, if net term profit is over 500 million TL