The Capital Markets Board (SPK) announced that companies whose shares are traded on the stock exchange and their subsidiaries can initiate a buyback program by decision of the board of directors without the need for a general assembly resolution for presentation to the shareholders at the first general assembly meeting to be held. In the statement issued by the SPK, it was stated that recent developments in the Turkish capital markets were closely monitored and it was deemed appropriate to announce to the public some matters to be implemented until a second announcement. The announcement highlighted that companies whose shares are traded on the stock exchange and their subsidiaries can initiate a buyback program by decision of the board of directors without the need for a general assembly resolution for presentation to the shareholders at the first general assembly meeting. The statement conveyed that in the board of directors’ decision to be taken, the purpose of the buyback, the maximum duration of the buyback program, the maximum number of shares to be repurchased, and the maximum fund amount to be used should be included, and this board decision should be disclosed to the public within the framework of the regulations regarding special disclosure of the Board. Publicly traded companies and their subsidiaries with an existing buyback program can continue based on the conditions specified in this decision without the need for an additional board decision. In buybacks carried out according to the principle decision, the provisions of the 9th paragraph of the Notification Regarding Repurchased Shares No. II-22.1 regarding the nominal value limit (10% of the capital) and the daily trading limit specified in the 15th paragraph (c) of (25% of the average of the last 20 days’ trading volume) will not be applied, the first four paragraphs of the 12th article and the second paragraph of the 19th article will not be applied, and buyback-selling will be executed only for cash increases during capital increase periods, as per the second paragraph of the 10th article. The announcement stated that shares repurchased within the scope of the principle decision cannot be sold for a period of 30 days from the date of repurchase, and the “first in, first out” method will be applied in calculating the 30-day period. After this period, the relevant shares can be disposed of within a maximum of three years in accordance with the principles in Article 19 of the Notification or may be held in compliance with the limitations in the Notification.