Borsa Istanbul plans to calculate a new share index consisting of the shares of companies that have implemented a buyback program to buy their own shares, within the scope of yesterday’s decision of the Capital Markets Board (CMB).
In the statement made on Borsa Istanbul’s website, information was given about the new index planned to be calculated.
In the statement, it was stated that when determining the companies to be included in the BIST Buyback Index, which is planned to be calculated, the notifications made through the Public Disclosure Platform (KAP) template called “Notification on the Buyback of Shares” will be taken into account.
In the statement, warnings were also made about companies that have made or are making a Material Event Disclosure, instead of the PDP template named “Notification on the Buyback of Shares”, from companies that have an ongoing buy-back program for the buyback of their shares.
Our companies that make their notifications using the PDP template called ‘Notification on Repurchase of Shares’ are also required to check the up-to-dateness of their notifications, the purpose of the buyback, the date of the decision of the Board of Directors, the maximum duration of the buyback program, the maximum number of shares to be bought back, the maximum amount of funds to be paid for the shares to be bought back (TL), a new Material Event Disclosure, including the number of shares purchased and the amount paid, until the notification date, and make any updates they deem necessary at the PDP until 17 February at the latest.”
The Material Disclosure should be made using the Material Disclosure (Public) template, and all details should be included in the explanation section by writing ‘About our ongoing Takeover Program or Transactions’ in the Summary Information field.”
Source: Trthaber / Prepared by Irem Yildiz