BIM's Decision on Share Buyback

BIM Birleşik Mağazalar A.Ş. (BIMAS) will apply to the Capital Markets Board (CMB) for the repurchase of its shares traded on Borsa Istanbul. The company's Board of Directors announced that they plan to take this step due to the reason that share prices do not reflect the company's true performance, as decided on December 24, 2024. The purpose of the buyback program is stated to protect shareholders and ensure that the share price is consistently aligned with its actual value.

In the decision made by the Board of Directors, the maximum number of shares subject to repurchase has been determined as 2 million shares (2 million TL nominal). It is planned that the necessary funds for this transaction will be provided from the company's internal resources, with a maximum amount set at 1 billion TL. The share buyback program will be presented to the shareholders at the upcoming General Assembly meeting.

According to BIM's announcement, subject to the approval of the CMB, the repurchase of the company shares from Borsa Istanbul will be conducted. The buyback transactions aim to strengthen the company's financial structure and support the healthy formation of share prices. In this context, it has been disclosed that Fatih Meriç, the Chief Financial Officer (CFO), has been authorized for the transactions to be conducted.

Necessary applications will be made to the CMB for the transactions to be carried out under the program, and the buyback process will be initiated with the obtained permits. The company aims to act in accordance with its strategic objectives while considering the interests of shareholders.

Current status of BIMAS shares

This week, BIMAS fell by 1.21% to 488.75 TL, reducing its monthly gain to 4% despite a 17% increase in December. Since the beginning of the year, the stock has continued to see a value increase of 63%.