Reference: Public disclosures dated 17.08.2018, 31.12.2018, 31.05.2019
With the related public disclosures, pursuant to the resolution of our Bank's Board of Directors dated 17.08.2018 regarding the buy-backs of the Isbank Class C shares traded on Borsa Istanbul Stock Exchange, the buy-backs were fully completed between 28.08.2018 and 31.12.2018, covering 130 million shares representing 2.89% of our Bank's capital. Subsequently, our Board of Directors authorized the Head Office to sell these shares without falling below the cost of buy-backs, with the resolution dated 31.05.2019.
Following the capital increases by bonus issues conducted by our Bank on 14.06.2022 and 27.02.2024, the amount of shares buy-backed has reached 722,200,364.31. 306,000,000 of these shares, representing 1.22% of our Bank's capital, were sold entirely to foreign institutional investors, at a price of 13.30 TL per share, via block sale method with special order on Borsa Istanbul. The sales transactions were carried out under the authorization of İş Yatırım Menkul Değerler A.Ş. Our Bank shall be bound with a 90 day lock-up period regarding the remaining portion of buy-backed shares after this sale.
As a result of this transaction, the share of the buy-backed shares in our Bank's capital has decreased to 1.66%. Since the gain/loss from the sale of buy-backed shares is to be accounted under the equity pursuant to the Capital Markets Board's II-22.1 numbered Communique on Buy-backed Shares, the sale transaction will have an increasing impact on our equity and will not have a profit/loss impact on income statement.
This is the translation of the Turkish public disclosure made by Türkiye İş Bankası A.Ş. through the Public Disclosure Platform, under the Material Events Guideline prepared in accordance with the Communique of Material Events, numbered II-15.1. According to the Material Events Guideline and the regulations, the Turkish public disclosure shall prevail.
