Gemicioglu

  MATTERS THAT ARE GOVERNED IN SHAREHOLDERS’ AGREEMENTS  A shareholders’ agreement .is a contract that is subject to the “freedom of agreement” as defined in Article 12 of Turkish Code of Obligations (“TCO”). Those matters that may be governed in such an agreement are surely not limited to it; nevertheless, a framework has been set […]

  A shareholders’ agreement is intended to make it convenient to move to law of obligations, which offers a wider margin of freedom than corporate law which restricts the contract freedom. Pursuant to the imperative provisions of Turkish Code of Commerce, a shareholder is only obliged to subscribe certain capital to the company by virtue […]

  With a population of nearly 85 million people, its strategic location, a growing market and young and high-quality labour, Turkey is a country that is popular with both national and international investors. The most common methods for investment include founding a company or investing in an already existing one. If an investor feels content […]

  The Communiqué (III-48.3) applicable to Venture Capital Investment Trusts (“Communiqué”) has introduced certain regulations to ensure that the portfolio of a VCIT shall be formed in line with the terms and conditions set out therein, and accordingly, it has further introduced various restrictions to a VCIT’s portfolio. These restrictions as defined in Article 22 […]

  a. Prior to the Public Offering or Sales to Qualified Investors During that period, it is necessary to obtain a permission from the Capital Markets Board (CMP) to transfer preferential shares regardless of the ratio or transfer shares representing ten percent of the VCIT’s capital or more. It is strictly forbidden to register any […]

Trust shares in a Venture Capital Investment Trust (“VCIT”) may be issued to the bearer or as registered shares.  Regulations governing the transfer of shares in a VCIT are provided in Article 16 of the Communiqué (no. III-48.3) on Principles and Rules applicable to Venture Capital Mutual Trusts (“Communiqué”). Regulations therein are defined on the […]