NEWSLETTER-2017

222 NEWSLETTER 2017 of issue limits for debt securities. On the other hand, the financial state- ments that are taken into consideration while calculating the issuance limit for debt instruments should be prepared within the framework of the Board regulations regarding financial statement and reporting standards for listed corporations and are determined, below: Date of Application The financial statements which are subject to audit/limited review while calculating the issuance limit January 1 – March 15 Latest annual financial statements or last year’s interim financial statements for the six-month period March 16 – August 15 Latest annual financial statements August 16 – December 31 Current year’s interim financial statements for the six-month period Companies with special accounting periods shall adjust such financial statements according to their accounting periods. To take into consideration the following periods’ financial statements in the calculation of issue limits instead of the above-mentioned financial statements, the below provisions shall apply: (i) In the calculation of the issue limit upon the issuer’s request, it is possible to take into consideration the following period’s financial statements that have been subject to independent audit/review, and prepared within the framework of the Bo- ard regulations regarding financial statement and reporting standards for listed corporations. (ii) If the issuer has the following period’s financial statements prepared within the framework of the Board regulations re- garding financial statement and reporting standards for listed corporations, and which indicate that there is a decrease in equity capital shown in the financial statements taken into consideration in the calculation of the issue limit, these fi- nancial statements shall be taken into consideration without fulfilling the independent audit/review requirement.