Unexpected returns are the result of new unexpected information arriving to the market during the period which changes some of the factors we believe are pertinent to the valuation of Aselsan. Some examples of relevant new information arriving to the market could be things like:
• Announcement of the latest growth rate of the economy
• Large swings in the value of the national currency
• Announcement of a new contract to sell large quantity of products to another country
• News of a large accident at the factory
• Announcement of a new facility being built that will significantly increase the production capacity of the company