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Legal Terms

Warning Note

All information and opinions contained in this document have been edited and prepared by TEB Yatırım Menkul Değerler A.Ş. (“TEB Yatırım”) so as to inform the investors thereabout as of the dates specified. TEB Yatırım does not assume any responsibility or liability to keep the investors aware about any changes that may occur in said information and opinions at any time after this date. TEB Yatırım and the persons or entities affiliated thereto may be in the position of a market maker on the securities of companies named in this report or may be transacting intensively on said securities. TEB Yatırım and the persons or entities affiliated thereto may be holding positions on the securities of companies named in this report to such extent that may affect the transactions thereon or may be providing or may, in the future, provide investment banking services to said companies. TEB Yatırım and the persons or entities affiliated thereto may, from time to time, have taken and held positions on any one of the securities of companies named in this report to such extent that may affect the transactions thereon or may trade these securities or the associated option in their own name and account and/or in the account of their customers. The investment alternatives discussed herein may not be fit and convenient for all investors. Investors must take a decision of investment in the securities of companies mentioned herein only by taking into consideration their own private investment purposes and financial situation and only in reliance upon the prospectus and circular approved by the relevant company and upon their own researches and the advices and recommendations taken from their own independent consultants. The information given herein cannot be considered or treated as legal, tax-related or financial advices. In the case of an investment made in foreign currency, the changes or fluctuations in foreign exchange rates may make serious negative effects on the value or price of that investment or on the yield and return of that investment. Return on investments may be unsteady and inconsistent. The past performance cannot be deemed as a guarantee for future results and outcomes. The values and prices of investments mentioned herein may increase or decrease in a manner directly or indirectly detrimental to the interests of investors, which may in turn lead to loss of principal sum invested by the investors therein. Investors must make sure of being financially capable of bearing the risks related to investments referred to herein. The information disclosed herein have been compiled and edited from public sources or by TEB Yatırım from other sources accepted to be reliable. However, TEB Yatırım hereby makes no explicit or implicit representation or warranty as to accuracy, completeness or suitability of such information or of the estimations, forecasts, implications or opinions relied upon such information. TEB Yatırım disclaims any liability or responsibility for the results thereof, including, but not limited to, direct or indirect, material or moral damages that may be incurred by any party thereto. None of the information given herein constitutes an offer or invitation given by or on behalf of TEB Yatırım or any other company to any person or entity for purchase or sale of any particular security or stock. This report contains personal opinions of the analysts issuing the report about the companies and securities named or mentioned herein. No portion of the fees paid to analysts in consideration of preparation of this report is or will be related or linked to their advices and opinions contained herein. By having access to the information and opinions contained herein, you will be deemed to have fully understood and agreed to comply with all warnings given hereinabove. All legal rights associated to the information and reports included herein are owned and held by TEB Yatırım, and can in no case and for no motive be fully and/or partially copied or reproduced, or used for other purposes, or distributed, or changed, or transferred to and stored in computer systems for future use, without a prior consent of TEB Yatırım, or otherwise, TEB Yatırım hereby retains its right to claim indemnification of all kinds of its damages and losses resulting therefrom.

This Warning Note is published pursuant to the Communiqué on Investment Advisory Services and on Investment Advisors and Consultants, Serial V, No. 55, issued by the Capital Markets Board.

The investment information, comments and advices contained herein are not a part of investment consulting service. The investment consulting services are provided within the frame of an investment consulting agreement to be signed by and between intermediary institutions, portfolio management companies or non-deposit banks on one side and customers on the other side. The comments and advices given herein are relied upon the personal ideas and opinions of the issuers thereof. These opinions and advices may not fit to your financial situation and your risk and yield preferences. For this reason, taking an investment decision in reliance upon only the information contained herein may not lead to results in line with your expectations.