Policies are formulated pursuant to the Turkish Commercial Code and Capital Markets Legislation.
Internal Directive of the GA
Our dividend policy, as set out in the Company’s Articles of Association, is to distribute the maximum amount of distributable profit in accordance with Articles 28, 29 and 30 of our Company’s Articles of Association.
The objective of this disclosure policy is to share all kinds of legally accountable information and disclosures with the relevant authorized bodies and institutions and the existing and potential investors in a timely fashion, as part of an active and open communication, and on equal basis as per the provisions of the Regulations of Capital Markets Board (CMB), the Turkish Commercial Code, and the regulations of BIST.
In accordance with the principles established by the Capital Markets Law and Turkish Commercial Code; within the scope of the social responsibility, TürkTelekomünikasyon A.Ş. makes aids and donations to the Social Assistance and Solidarity Foundation, institutions conducting social responsibility projects, educational institutions, public institutions and entities, municipalities or other similar persons and entities with obtaining approval of the Board of Directors for donations exceeding the amount of 1 Million TL. The amount of donation less than 1 Million TL is subjected to the approval of General Manager. Total donations in a fiscal year cannot exceed 40 Million TL.
In the selection of the type, amount and the receiver of the donation as the institution, organization or the nongovernmental organization, all donations and aids that are made upon the resolution of the Board of Directors can be made by taking into consideration the Articles of Association, vision, mission and policies of Türk Telekom, ethical principles of the Company and Company’s corporate social responsibility policies. All donations and aids are made by taking into consideration the regulations of Ministry of Finance. The shareholders are informed at the Ordinary General Assembly Meeting of the relevant year about all donations and aids.
In our company, Compensation payments are charged in accordance with the Labor Law 1475 and Law 4857 and Turk Telecom Human Resources Labour Principles and Collective Labour Agreement Rules.
In this scope,
Severance Pay: TT personnel who has at least one year experience and whose contract is ended conformably one of the cases that required severance payment according to Article 14 in effect of Labor Law 1475 that was abrogated with Labor Law 4857, are charged Severance Pay. In case of an employee death, the severance is paid to legal heir of worker. Severance Pay is calculated according to 30 working days - daily wages for each full year of work. In the scope of Collective Labor Agreement; for those who begin to work in TT before 23.10.1985, each full year of years served is calculated from 35 daily wages, for those begin to work after that date is calculated from 30 daily wages.
Termination Pay: In accordance with Human Resources Labour Principles and Collective Labour Agreement Rules, open ended employment the contract can be annulled immediately with all payments paid in advance or with notice of termination, giving permission to find new job in termination period.
When the contract of personnel who started to work before 01.12.1987 and subject to Collective Labour Agreement Rules is annulled by company for the cases that are not specified in Law Labor Article 25, the termination period will be as follows.
At our company,
- For the personnel with below 6 months experience, 3 weeks after the opposite side is notified,
- For the personnel with experience from 6 months to 1,5 years; 5 weeks after the opposite side is notified,
- For the personnel with experience from 1,5 months to 3 years; 8 weeks after the opposite side is notified,
- For the personnel who has above 3 years experience, 10 weeks after the opposite side is notified,
Annulment will be realized.
When the contract of personnel who started to work after 01.12.1987 and not subject to Collective Labour Agreement Rules is annulled, termination period is arranged according to the Labour Law.