The letter that was sent to all chambers of commerce by the Turkish Union of Chambers and Commodity Exchanges (TOBB) on 1 April 2020, numbered 34221550-045.02-3392 referring to the letter of the Ministry of Trade (Ministry) dated 31 March 2020 (the Announcement) advises companies to preserve their equities during the COVID-19 pandemic. TOBB also made an advisory announcement regarding the need to limit the distribution of profits in order to prevent companies from falling into a state of capital loss and debt because of the outbreak. The Announcement recommends all companies, except state-owned enterprises, preserve their equities and in this regard, take the below principles into consideration for General Assembly meetings for the 2019 financial year that will be held this year.
