VAKIFBANK
ANNUAL REPORT 2015
12
AMENDMENTS TO THE ARTICLES OF INCORPORATION
FORMER VERSION
Capital
Article: 7-(Amended type with the Ordinary
General Assembly dated on 25.03.2011)
The Bank adopted registered capital system according to the provisions
of Capital Market Law No. 2499, and adapted the registered capital
system with the permission of Capital Markets Board dated 15/09/2005
with No. 37/1122, and with the permission of Capital Markets Board
dated 03/03/2006 with No. 10/242, the registered capital of the Bank
has been determined as TL 5,000,000,000 (Five billion Turkish Lira).
The ceiling of the authorized capital as given by the Capital Markets
Board is valid for 2011-2015 (5 years). From 2015 onwards, even if
the capital does not reach the permitted ceiling level, following the
permission of Capital Markets Board for a new ceiling amount or the
current ceiling amount, the authorization of General Assembly for a new
period is obligatory in order to take a capital increase decision. Failure
to obtain authorization will affect the ejection of the Bank from the
Registered Capital System.
NEW VERSION
Capital
Article: 7-(Amended type with the Ordinary
General Assembly dated on 30.03.2015)
The Bank adopted registered capital system according to the
provisions of Capital Market Law No. 6362 and adapted the registered
capital system with the permission of Capital Markets Board dated
15/09/2005 with No. 37/1122. The registered capital ceiling of the
Bank is TL 10,000,000,000 (Tenbillion Turkish Lira) and it is divided
into 1,000,000,000,000 (Onetrillion) registered shares, each of which
amounts 1 (One) Kuruş nominal.
The ceiling of the authorized capital as given by the Capital Markets
Board is valid for 2015-2019 (5 years). From 2019 onwards, even if
the capital does not reach the permitted ceiling level, following the
permission of Capital Markets Board for a new ceiling amount or the
current ceiling amount, the authorization of General Assembly for a new
period, not more than 5 years, is obligatory in order to take a capital
increase decision. In case of a failure to obtain aforesaid authorization,
capital increase cannot be made with Board of Directors decision.
