Donations and Aids Policy
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Donations and Aids Policy
ALARKO HOLDİNG A.Ş. DONATIONS AND AIDS POLICY
Principles Regarding Donations and Aids:
- Alarko Holding A.Ş. may make donations and aids to individuals, associations, foundations, nongovernmental organizations, and public institutions and organizations involved in education, health, and social solidarity or are engaged in the company's field of activity.
- The cap for the total amount of donations and aids that can be made by Alarko Holding A.Ş. in each financial year is submitted by the Board of Directors to the approval of the shareholders at the ordinary General Meeting of Shareholders to be held regarding the previous financial year.
- The Board of Directors is authorized to decide on donations and aids up to the cap set in the General Meeting of Shareholders.
- It is essential that the donations and aids to be made by Alarko Holding A.Ş. are in accordance with company strategies, fundamental corporate values, and ethical standards and contribute to social development.
- Information on the amount of all donations and aids made in each financial year and the people who benefited from them are presented to the shareholders under a separate agenda item at the General Meeting of Shareholders.
- The amendments proposed by the Board of Directors to the Donations and Aids Policy are also submitted to the information of our shareholders at the General Meeting of Shareholders and enter into force with their decision.
- Under the Articles of Association of Alarko Holding, 1% of the Company's net distributable profit for the period before deducting the corporate tax and similar taxes and funds is donated to the Alarko Education and Culture Foundation, provided that there is a tax exemption and there is no prejudice to the dividend that may be required to be paid by the Capital Markets Board. The cap on the total amount of donations to be made in a financial year is determined at the General Meeting of Shareholders.
- The cap on aids and donations shall not exceed 5% of the corporate income calculated according to the tax laws prevailing in the relevant year, which is allowed to be deducted from the Corporate Tax base, taking into account the minimum rate. All donations to be made must be presented at the General Meeting of Shareholders that the aids do not violate the profit shifting rules of the Capital Markets Legislation, that the necessary material disclosures are made, and that the donations made during the year do not hinder the purpose and activities of the company.
- Under Article 58(b) of the Articles of Association of Alarko Holding A.Ş., the donations made by the Company within the relevant financial year are added to the distributable profit base.
This Donations and Aids Policy has been accepted by the Board of Director’s decision dated 16/09/2022 and numbered 870 and is presented to the opinion of the shareholders at the first ordinary General Meeting of Shareholders to be held and disclosed to the public on the corporate website of the company. Amendments to this Policy enter into force and are announced in the same manner.