Hepsiburada Plans Share Capital Increase at Special Meeting
Hepsiburada, recognized as a leading Turkish e-commerce platform and trading under the ticker NASDAQ: HEPS, is preparing for an important event that shareholders will not want to miss. The company has called for an Extraordinary General Assembly Meeting to address significant developments related to its capital structure.
Details of the Extraordinary General Assembly
Set to convene at the company’s headquarters, this meeting aims to deliberate on a proposed increase in the total share capital by an impressive TRY 4,171,960,010.85. Among this, a portion of 7,168,458.80 is designated for the nominal value of new shares, while the remainder is for share premiums. Consequently, the nominal share capital will rise from its previous TRY 65,199,658.00, divided into 325,998,290 shares, to a new total of TRY 72,368,116.80, divided into 361,840,584 shares. Noteworthy is that the nominal value of each share will remain stable at TRY 0.20, also known colloquially as 20 Kuru?.
Key Agenda Items for Discussion
The Extraordinary General Meeting's agenda includes several vital items for shareholders:
1. Election of Meeting Chairmanship
The assembly will begin with the election of the chair for the meeting, a crucial step in forming the procedural framework.
2. Authorization for Signing Minutes
The assembly will authorize the meeting chair to sign the official minutes, ensuring that the decisions made during the gathering are accurately recorded.
3. Share Capital Increasing Discussions
Significant focus will be on the discussions surrounding increasing the company’s current total share capital and modifications to pre-emptive rights which are outlined in the Articles of Association.
4. Amendments in Corporate Governance
The meeting will address proposed amendments to essential sections of the Company’s Articles of Association, addressing its line of business, general assembly protocols, and corporate governance principles.
5. Recommendations and Closing Remarks
The assembly will conclude with recommendations and final remarks, allowing shareholders to reflect on the decisions made.
Commitment to Transparent Communication
Explanatory notes, including significant resources connected to the Extraordinary General Assembly, will be published on Hepsiburada's investor relations website. Shareholders will find all pertinent documents available to better understand the implications of the decisions to be made. These disclosures reflect Hepsiburada's commitment to maintaining transparency with its shareholders.
Empowering Future Developments
Holders of the company’s American Depositary Shares (ADSs) who wish to exercise voting rights will need to coordinate through The Bank of New York Mellon, which manages the ADS program. This step ensures that expatriate investors can also actively participate in the decision-making process impacting the company's future.
About Hepsiburada
Founded as a transformative e-commerce platform, Hepsiburada operates with a hybrid model encompassing both direct sales and a third-party marketplace, engaging approximately 100 thousand merchants. The company continues to evolve, aiming to digitize commerce in Türkiye while improving access to a wide range of services and solutions for both consumers and merchants alike.
A significant aspect of Hepsiburada’s mission is empowering women in business, primarily through initiatives aimed at female entrepreneurship. The ‘Technology Empowerment for Women Entrepreneurs’ program has significantly impacted the lives of thousands of women across Türkiye, helping them connect with millions of customers.
Frequently Asked Questions
What is the main purpose of the Extraordinary General Assembly?
The main purpose is to discuss a proposed significant increase in Hepsiburada's share capital and related amendments to the Articles of Association.
When is the meeting scheduled to take place?
The assembly will meet in November of the current year, at 11:00 AM local time.
How can shareholders participate in the meeting?
Shareholders can participate either in person or through their designated depositary if they hold American Depositary Shares.
What topics will be included in the agenda?
The agenda includes the election of the meeting chair, approving meeting minutes, discussions on share capital increases, and potential amendments to corporate governance documents.
What is Hepsiburada's mission in relation to female entrepreneurship?
Hepsiburada is committed to empowering women by providing support and resources for female entrepreneurs through various initiatives, helping them thrive in the e-commerce space.
