Energy Company on BIST Announces Share Buyback Decision

Enerya Enerji A.Ş. (ENERY) made a significant decision regarding the buyback of its shares listed on Borsa Istanbul during the Board of Directors meeting held on December 18, 2024. This decision was made because the share prices did not reflect the true performance of the company's activities. The buyback program aims to contribute to the stable and fair valuation of the company's shares.

The Board of Directors stated that the share buyback transactions will be conducted in accordance with Article 379 of the Turkish Commercial Code, Article 22 of the Capital Markets Law No. 6362, and the relevant regulations and decisions of the Capital Markets Board. In this context, the maximum number of shares subject to the buyback will be determined as 550,000 shares with a nominal value of 550,000 TL. A total of 150 million TL will be allocated for the buyback process.

It has been decided that the fund allocated for buyback transactions will not exceed 150,000,000 TL. This fund will be sourced from Enerya Enerji's own resources. Company officials anticipate that the buyback transactions will not have a negative impact on the financial condition and operations.

The buyback process is planned to last a maximum of 6 months. The buyback transactions will be executed on the Yıldız Market of Borsa Istanbul. Necessary disclosures regarding these transactions will be made on the Public Disclosure Platform. Additionally, the decision will be presented to shareholders at the company's next General Assembly meeting.

ENERY's Current Status

ENERY has shown a sharp upward trend since the beginning of the year, exhibiting a distinct positive divergence from the market. Its share value has risen by 163% since the start of the year, reaching up to 297 TL.

On the other hand, the stock experienced partial correction following its peak on December 12 and dropped to the floor price during yesterday's trading, closing the day at 272 TL, down 6.45%.