Shareholder Structure & Subsidiaries

Our shares are publicly traded in Borsa Istanbul with the ticker Mavi since 15 June 2017

Capital structure of the Group as of 16 May, 2022 is as follows;


% 16.05.2022
Fatma Elif Akarlılar 9,06 9,000,000 TL
Seyhan Akarlılar 9,06 9,000,000 TL
Hayriye Fethiye Akarlılar 9,06 9,000,000 TL
Blue International Holding B.V. 0,22 216,586 TL
Public 72,60 72,097,414 TL

100,00 99,314,000 TL

The shares of our Company are classified into two groups as Class A shares and Class B Shares.

Class A shareholders have certain privileges relating to the election of the Board of Directors’ members. Accordingly, provided that Blue International Holding B.V., its shareholders and/or affiliates and subsidiaries hold at least 20% of the capital or voting rights of the Company (Class A and Class B shares in aggregate), half of the members of the Company's Board of Directors shall be elected from among the persons to be nominated by Class A shareholders. The Board of Directors’ members to be elected from among the nominees of the Class A shareholders shall be members other than the independent members stipulated under the Corporate Governance Principles of the Capital Markets Board.

The Company’s Articles of Association does not grant any privileges to the shareholders regarding the exercise of voting rights. Each share entitles its holder to one vote.

However, provided that the quorums stipulated under the Capital Markets Law and the Turkish Commercial Code are reserved and Blue International Holding B.V., its shareholders and/or affiliates and subsidiaries hold at least 20% of the capital or voting rights of the Company (Class A and Class B shares in aggregate), in order for the Company's General Assembly to pass a resolution on the matters listed below and on amendments to the Articles of Association on any of such matters, the affirmative votes of all of the Class A Shareholders shall also be required:

  • Changing the Company's field of operation, entering into new lines of business or abandoning existing lines of business.

  • Capital increases of the Company other than those to be made within the registered capital system, capital decreases, liquidation, termination or dissolution of the Company or changing the type of the Company.

  • Filings for bankruptcy, concordat, financial restructuring, adjournment of bankruptcy.

  • Transfer of all or a substantial part of the Company's commercial enterprise.

  • Changes to the privileges held by Class A shareholders to nominate the Board of Directors’ members or changes to the structure of the Board of Directors.

  • Changes to the meeting and resolution quorums of the Board of Directors and committees of the Company.

  • Approval of the annual activity report, the profit and loss statement and the balance sheet, and release of the Board of Directors’ members from liability.

Direct and Indirect Subsidiaries

Direct and indirect subsidiaries of the Company are as follows;

Subsidiary Country Share
Mavi Europe AG Germany 100%
Mavi Jeans LLC Limited Russia 100%
Eflatun Giyim Yatırım Tic. A.Ş. Turkey 51,00%
Mavi Jeans Canada Canada 63,25%
Mavi Jeans Inc. USA 51,00%