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

Suspension of KONTR's Participation in World Bank Projects

Kontrolmatik Teknoloji A.Ş. (KONTR) has decided to suspend its participation in projects financed by the World Bank for a period of 12 months. According to the company's statement, the review of a past tender process related to the Urgent 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

The statement included, "If obligations are fulfilled after this period, our company and our subsidiaries will be able to rejoin the relevant projects during an additional 12-month conditional participation period," said the company. It was also noted 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 expressed that it will continue to act in accordance with transparency and strong corporate governance principles towards all its stakeholders. Developments regarding the situation will be shared with the public within the framework of Capital Market Legislation.

Market Effects

Following the news, KONTR shares began to trade with a negative trend in the morning, falling by 1.35% to 13.93 TL. This situation may have caused an increase in uncertainties in the markets for investors.