Investing.com — Formet Metal and Glass Industry Public Company (AS) held its Ordinary General Assembly (OGMA) on 22nd May 2026, at 09:30 am. According to the announcement made by the Board of Directors, attendance was permitted.
A total of 1,140,595,990.77 TL was represented by the capital. The General Assembly approved the 2024 management report of the Board of Directors. The independent audit report and financial statements were also accepted by the majority of votes.
The General Assembly accepted the proposal of the Board of Directors regarding the distribution of profits. No dividends will be distributed for the 2024 financial year.
According to the statements made by the Capital Markets Board, a loss of 152,438,846 TL was recorded in the financial tables prepared for the regulatory committee. However, the actual loss was 126,939,974 TL, as per the records.
Each member of the Board of Directors was individually acknowledged for their contributions to the 2024 activities. Additionally, the Chairman of the Board of Directors disclosed a bonus of 2 Million TL. This bonus was for the years 2022 and 2024, with payment scheduled for August 2025.
The General Assembly also approved the remuneration adjustments. The Chairman of the Board of Directors was assigned a net salary of 187,000 TL. The independent members of the Board of Directors were assigned a monthly net participation fee of 12,000 TL.
Karar Independent Audit and Consultancy Inc. was appointed as the auditor for the 2025 financial year. The audit fee was set at 3 Million TL. The members of the Board of Directors were authorized by the Turkish Trade Law’s articles 395 and 396 for the transactions within their scope.
Key Highlights from the Formet Metal AGM
The Ordinary General Assembly (OGMA) of Formet Metal and Glass Industry Public Company (AS) was held on 22nd May 2026. The following are the key highlights from the meeting:
- The General Assembly approved the 2024 financial report and the independent audit report with a majority of votes.
- No dividends will be distributed for the 2024 financial year.
- The Chairman of the Board of Directors disclosed a bonus of 2 Million TL for the years 2022 and 2024, with payment scheduled for August 2025.
- Karar Independent Audit and Consultancy Inc. was appointed as the auditor for the 2025 financial year, with a fee of 3 Million TL.
- The members of the Board of Directors were authorized by the Turkish Trade Law’s articles 395 and 396 for the transactions within their scope.
No Dividends for Formet Metal Shareholders in 2024
Despite reporting a loss of 126,939,974 TL in the 2024 financial year, the General Assembly decided against distributing dividends to shareholders.
Chairman of the Board Receives a Bonus of 2 Million TL
The Chairman of the Board of Directors, Formet Metal’s top executive, was awarded a bonus of 2 Million TL for his contributions to the company during the 2022 and 2024 financial years. The payment for this bonus is scheduled for August 2025.
Karar Independent Audit and Consultancy Inc. Appointed as Auditor for 2025
The General Assembly appointed Karar Independent Audit and Consultancy Inc. as the auditor for the 2025 financial year, with a fee of 3 Million TL.
Members of the Board of Directors Authorized for Transactions
The members of the Board of Directors were granted authorization by the Turkish Trade Law’s articles 395 and 396 for transactions within their scope.
