Euro Yatırım Reports Rejected Capital Raise and SPK Defense
The company says regulators rejected its targeted capital increase and received its defense over a delayed disclosure concerning a court ruling on 10 million shares.
Key takeaways
- The Capital Markets Board rejected Euro Yatırım Holding’s targeted capital increase request.
- The company submitted its defense to the regulator on October 13 over a delayed disclosure.
- An appeal is ongoing over a court order concerning 10 million EUHOL shares.
Euro Yatırım Holding said the Capital Markets Board rejected its application for a targeted capital increase. The company also said it submitted a requested defense to the regulator on October 13 over a delayed disclosure concerning 10 million EUHOL shares.
The company said the board’s August 20 decision was communicated in an August 24 letter. In a September 25 letter, the regulator cited concerns that the proposal would circumvent provisions of the Share Communiqué and said it was rejected under another provision.
The regulator also requested a defense because the company had not made a timely public disclosure about a court ruling. The ruling found invalid and canceled the sale of 10 million shares owned by Mustafa Şahin to Ege Sigorta through Euro Finans Menkul Değerler, and ordered the shares returned to Şahin. Euro Yatırım said the matter remains in the appeals process.
A rejected capital increase means the company does not have approval for this proposed way of raising capital. The company said it would report further developments that could affect investors.
This article was produced with the help of AI technology. Source: Yahoo Finance
