In the Board of Directors' Meeting held on June 23rd, 2000, the representatives of Yapi Kredi Bank who will be responsible to pursue all the legal and regulatory issues related with the Turkcell Iletisim Hizmetleri A.S. ("Turkcell") Initial Public Offering was appointed.
In addition, the following decisions were taken;
Yapi ve Kredi Bankasi A.S. will participate to the Initial Public Offering of Turkcell by selling 2,400,000,000 shares with a nominal value of TL 2,400,000,000,000 (representing 1% of the capital) The necessary applications will be made to New York Stock Exchange and Istanbul Stock Exchange for listing.
The gain on sale of these shares, will be used for share capital increase of Yapi Kredi Bank in accordance with the temporary Article no 28 of the Corporate Tax Legislation (Tax Holiday).
The information contained herein is extracted from the special status explanation given to Capital Market Board today, which is originally in Turkish. Accordingly, for those who need detailed information, it is suggested to refer to the mentioned explanation.
Yapı Kredi / 23 Jun 2000