CREDIt RAtING OF ANADOLU EFES

Our Company complies with and has implemented
the Corporate Governance Principles issued by CMB
except for the below-mentioned provisions in the
period of 01.01.2010-31.12.2010.
According to the Articles of Association of our
Company any sale of the immovable assets of
the Company needs the approval of the General
Assembly. On the other hand, without any prejudice
to the provisions no 443/2 of the Turkish Commercial
Code, there are no provisions therein with respect
to passing of other major resolutions by the General
Assembly regarding any splitting, purchasing, selling,
renting and leasing significant amount of property.
The Board of Directors of our Company discussed the
matter of adoption of such resolutions in the General
Assembly and decided by a majority that such
delegation would diminish the acting capability of the
management against dynamic and changing business
opportunities to the detriment of all shareholders and
hinder the operations of the Company. Therefore,
the Board of Directors found it appropriate to inform
all shareholders in the very first General Assembly
following such transaction(s), if any.
There is currently no provision in the Articles of
Association of our Company allowing the exercise of
cumulative voting system.
In line with the articles 3.3.4 and 3.3.5 of Section
IV of the CMB’s Corporate Governance Principles,
the independent member of our Board of Directors
does not qualify as independent, however Mr.
Engin Akçakoca, who is nominated by Anadolu
Endüstri Holding, does not have any current ties
to such nominating shareholder. Therefore Mr.
Engin Akçakoca qualifies to be independent as
per internationally accepted standards. Anadolu
Efes believes that the objectivity and independent
approach by this Board member highly contributes to
the development and strengthening of the Company’s
management. In addition there are independent and
professional individuals in capacity of consultants in
our Company’s Board of Directors.
Currently the chairman of the Audit Committee
qualifies to be independent as per internationally
accepted standards, whereas the chairman of
the Corporate Governance Committee is not an
independent board member.
Dr. Mehmet Cem Kozlu Salih Metin Ecevit
Corporate Governance Corporate Governance
Committee Chairman Committee Members
SECTION I
SHAREHOLDERS
2. Shareholder Relations Unit
In 2010, the Investor Relations Department
established within our Company’s Finance and
Investor Relations Directorate conducted the relations
with our shareholders. The individuals in charge of
shareholder relations are as follows:
Can Çaka-Anadolu Finance & Investor
Relations Director
Tel: 0 216 586 80 47
Fax: 0 216 389 58 63
E-mail: can.caka@efespilsen.com.tr
ANADOLU EFES FAALİYET RAPORU 2010 111