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Ordinary General Board Meeting Of Turcas Petrol A.Ş. For 2012 Was Held

The Ordinary General Board Meeting of Turcas Petrol (BİST:TRCAS) for 2012 Financial Year was held by the attendance of the Chairman of the Board of Directors, Erdal Aksoy, the Vice President, Yılmaz Tecmen, Member of the Board of Directors and CEO, Batu Aksoy, Members of the Board of Directors; Banu Aksoy, Ayşe Botan Berker and Mehmet Sami through “Electronic General Board” system which is carried out first time.

Neslihan Tonbul, one of the experienced names of banking and finance sector, who replaced the position of Mehmet Sami who left the Board of Directors was elected. After this change, the number of women in the board of directors of Turcas Petrol, made of seven members, raised to three.

Erdal Aksoy, the Chairman of the Board of Directors of Turcas Petrol, informing concerning
2012 results and targets for 2013 stated that Turcas is one of dynamic, institutional and most respected Energy Companies in Turkey and the Region stated that “We offer opportunities to our investors to share in these attractive projects by great size value added investments in fuel oil distribution, refinery and electric sector in line with our vision and target as an publicly traded company.”

Aksoy continued as follows; “Institutional Management Grading Note of Turcas Petrol, which started since 2010, increased every year in a stable way and reached to 8.75 from 8.40 as of 2013. Turcas evaluated crisis in domestic and foreign markets as an opportunity and saw being a part of great investments only way of developing without any negative effect. Turcas, due to productive and synergic working environment created in the framework of reflex of converting economic crisis into opportunity, realized the investment Natural Gas Combined Cycle Power Plant in Denizli together with RWE and apart from SOCAR, started investment of the second investment obtaining Strategic Investment Certificate in Turkey with a capacity of 10 million ton/year.”

The Member of the Board of Directors and CEO, Batu Aksoy, speaking in Ordinary General Board Meeting of Turcas Petrol for 2012 stated that “Our net profit in 2012 is 70,6 million TL. Excluding the income due to sale of securities for once in 2011, our net profibilitiy increased in ratio of 400 % in comparison to previous year’s figures, and our profitability per share raised to 0,31 TL. The leading ship of Turcas, Shell & Turcas Petrol A.Ş. having a market share of 24 % in gas sale and a market share of 27 % in mineral oil, the leadership in the market share of total white products with a market share of 18 %, is continuing. STAR Rafineri A.Ş. with the Strategic Investment Certificate obtained in 2012 is the first company in Turkey having such a certificate. Towards the realization of the project, on May, 20 of 2013, EPC (Engineering, Supply and Construction) Contract was executed between STAR Rafineri A.Ş. and the Consortium made of Technicas Reunidas, Saipem, GS Engineering and Itochu. The activities for completing financing of the project will be possibly completed at the last quarter of 2013.”

In the meeting, it was determined that until 2015 the agenda of Turcas will have the following matters: refinery investment, maintaining the leader position in fuel oil sector, domestic and renewable energy investments, setting up Energy market and taking roles in experienced partnerships in advanced level in energy trade and manufacturing area and developing projects to which our company can participate to great size energy companies in neighboring countries which create synergy.