KONTR will not be able to participate in World Bank Projects for 12 months.

KONTR's Participation in World Bank Projects Suspended

Kontrolmatik Teknoloji A.Ş. (KONTR) has decided to suspend its participation in World Bank-funded projects for a duration of 12 months. According to the company's statement, the review of a past tender process related to the Emergency Development Project in the Republic of Iraq has been completed. The process, which resulted in a settlement agreement between the parties, has affected the company's participation in the projects.

Settlement Agreement and Future Process

In the statement, “If obligations are fulfilled after this period, our company and its subsidiaries will be able to participate in the relevant projects again during an additional 12-month conditional participation period,” it was noted. It was also stated that this situation would not have a negative impact on KONTR's growth plans or financial statements.

Company's Transparency and Corporate Governance Principles

KONTR emphasized that it will continue to act in accordance with transparency and strong corporate governance principles towards all stakeholders. Developments regarding the situation will be shared with the public in accordance with the Capital Markets Legislation.

Market Effects

Following the news, KONTR shares began trading at a level of 13.93 TL, showing a negative trend with a decline of 1.35% in the morning hours. For investors, this situation may have contributed to an increase in market uncertainties.