Galatasaray's Contract Amendment Approved by CMB

Galatasaray Sportif Sınai ve Ticari Yatırımlar A.Ş. (GSRAY) has received approval from the Capital Markets Board (CMB) for its planned amendment to the corporate charter. This development includes some changes regarding the future board meetings and decision-making processes of the company. In a statement made to the Public Disclosure Platform (KAP), it was noted that a draft amendment has been prepared to update Article 16 of the corporate charter to enhance the effectiveness of the board meetings, and it has been deemed appropriate by the CMB. This proposed change regarding board meetings and quorum aims to provide time and cost savings. Ministry of Trade process and general assembly approval Following the approval from the CMB, the necessary permits from the Ministry of Trade are expected to be obtained to implement the planned changes. Once these permits are obtained, the draft amendment will be presented to shareholders for approval at the first general assembly meeting. This change could pave the way for more effective use of technology in Galatasaray's corporate structure and accelerate the company's decision-making processes. It remains to be seen how shareholders will react to this proposal. The company aims to formalize the charter amendment by obtaining the support of its stakeholders during this process.