Statement Regarding the General Assembly Meetings of Companies by the Ministry of Trade
Through the Statement Regarding the General Assembly Meetings of Companies dated 20.03.2020 (“Statement”), the measures taken regarding the company meetings in order to prevent spread of the Coronavirus COVID-19 outbreak were declared via website of the Ministry of Trade of Republic of Turkey.
Managing bodies of the companies were entitled to cancel the ordinary general assembly meetings of joint stock and limited companies, which were previously invited in accordance with the legislation and articles of association of companies.
Moreover, through the Statement, for companies that use the electronic general assembly system and in intention to hold a general assembly meeting pursuant to Article 1527 of the Turkish Commercial Code, in order to prevent the outbreak, shareholders were advised to use their discretion to participate in the general assembly meetings electronically and not physically, to ensure the physical meeting to be held with minimum shareholders.
Furthermore, it has been declared that measures are being taken to allow the companies that do not have the required provisions under their articles of association on electronic general assembly meetings to hold electronic general assembly meeting through the "Electronic General Assembly Meeting System" and the "Electronic Board of Directors System".
Please find the Turkish version of the Statement here.
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