The companies whose shares are on the ECM Directory are obligated to produce and publicize the year-end financial reports and the independent audit report thereof; and semi-annual financial statements (which do not need to be independently audited). The financial report set includes financial statements, board of directors’ operation report and representation letter.

It is also mandatory that the company disclose important events and developments, which are likely to affect the value of its shares or the investors’ decisions regarding investments or exercising of rights.

Companies disclose statements conveyed to them by market advisors for announcement as well as the conditions of the market advisory agreements, as required by the ECM Regulation.

The company’s web site should be available and operational while the company shares are on the ECM Directory, and all sorts of information and documents required by Borsa İstanbul should be published there as well, after being announced on Borsa İstanbul Public Disclosure Platform (KAP).

Public disclosure is realized via the KAP system on the Internet by using digital certificates and signatures.