We had disclosed on 07.04.2004 that an agreement was concluded and we had entered into with Bechtel International for the joint performance with equal shares of 50%-50% for the Brasov-Cluj-Bors Motorway Project Contract of the Romanian Ministry of Transport with a contract size of 2 billion 241 million Euros.
Above mentioned contract has been revised by the Employer. According to the new contract the contract size is 1 billion 503 million Euros and the remaining work is 400 million Euros. The completion date is 31.12.2013.
Our Company’s consolidated financial statements for the fiscal period ended on March 31, 2010 in English and prepared in accordance with the International Financial Reporting Standards and the accompanying explanatory notes have been completed and submitted to the information of investors on our website www.enka.com.
At our Company’s Ordinary General Assembly Meeting for the year 2010 held on April 21, 2011 at 14:00 pm, regarding the distribution of the year 2010 profit, it has been resolved to distribute to shareholders for each TL 1 (one) nominal valued share TL 0.0727 gross / TL 0.0618 net (as being 7.27% gross, 6.18% net from issued share capital) in total TL 160,000,000 cash dividend and as TL 213,000,000 from 1st dividend and as TL 87,000,000 from 2nd dividend in total TL 300,000,000 bonus share increase (at a rate 13.64%).
Our Board of Directors resolved, after the analysis of Consolidated Balance Sheet and Profit – Loss statements for the year 2010, prepared in accordance with the International Financial Reporting Standards, to distribute from the net consolidated profit for the period from January 01, 2010 to December 31, 2010;
|To the share certificate holders representing the equity of TL 2,200,000,000 (as Cash)||160,000,000 TL|
|To the share certificate holders representing the equity of TL 2,200,000,000 (as Bonus issue)||300,000,000 TL|
|To the bonus certificate holders||13,619,945 TL|
|To the Board of Directors||1,679,793 TL|
And resolved to propose to the General Assembly to distribute the cash dividend starting from May 16, 2011, to add the amount of bonus issue to the share capital, and allocating the remaining as extraordinary reserve fund after retaining the legal reserve.
Our Company’s consolidated financial statements for the fiscal period ended on December 31, 2010 in English and prepared in accordance with the International Financial Reporting Standards and the accompanying explanatory notes have been completed and submitted to the information of investors on our website www.enka.com.
The Board of Directors has resolved to select the auditing firm DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. (member of Deloitte Touche Tohmatsu) as the independent auditor of our Company for auditing 2011 financial statements in accordance with the opinion of our Company’s Audit Committee and as pursuant to the Communiqué Regarding the Independent Audit in Capital Markets as announced by the Capital Markets Board of Turkey, and to present such resolution to the approval of the General Assembly.
The Board Of Directors’ Resolution For General Assembly Meeting
|Date of Resolution||March 28, 2011|
|Type of The General Assembly||Ordinary|
|Related Fiscal Period If It’s Ordinary General Assembly||2010|
|Date||April 21, 2011|
|Venue||Zincirlikuyu Yolu, ENKA III. Binasi, Konferans Salonu, Balmumcu – Beşiktaş / Istanbul|
- Election of the General Assembly Presidential Board
- Authorization of the Presidential Board for signing the Minutes of the General Assembly Meeting
- Reading and discussing the Annual Report of the Board of Directors and the Report of Auditors, and the Balance Sheet and Income Statement for the fiscal year 2010
- Reading and discussing the Report of Independent Auditors
- Informing the shareholders about the donations made within the fiscal year 2010
- Approval of balance sheet and income statement accounts of 2010 and the acquittal of the Board Members and Auditors from 2010 activities
- Election of the Board Members
- Election of the Auditors
- Determining the salaries to be paid to the Board Members and Auditors
- Determining the distribution of the balance sheet profit of 2010
- Approving the selection of the Independent Auditing Firm
- Informing the shareholders about the total amount of Guarantees, Pledges and Encumbrances given to the third parties, pursuant to the resolution of CMB dated September 9, 2009 and numbered 28/780
- Authorization of the Board Members to engage in businesses mentioned in Articles 334 and 335 of the Turkish Commercial Code
- Requests and recommendations
The contract for the construction of Muscat International Airport Terminal (MC3) in the value of 706.3 million Omani Rials (approx USD 1.8 million) has been signed, ratified and enterred into force on February 23, 2011 between Bechtel & Co. LLC, ENKA & Co. LLC and Bahwan Engineering Company LLC consortium and the job owner. The project which we have a share of 38.4% will be completed in 38 months.
Pursuant to the provisions of the General Communiqué on Income Taxation No: 217, our Company’s Income Statement as of December 31, 2010 as enclosed hereto, has been submitted on February 14, 2011 to the Large Taxpayers Tax Office of the Provincial Finance Department as annex to the presented Provisional Tax Declaration, excluding any revenues provided from construction and repair works spread over the years.