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 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 conducted as part of 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 projects.

Settlement Agreement and Future Process

The statement included, "Following this period, provided that the obligations are fulfilled, our company and its subsidiaries will be able to participate in the related projects again during an additional 12-month conditional participation period." 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 stated that it will continue to operate in accordance with transparency and strong corporate governance principles towards all stakeholders. Developments regarding the situation will be shared with the public within the framework of the Capital Markets Legislation.

Market Impacts

Following the news, KONTR shares showed a negative trend in the morning hours, starting to trade at 13.93 TL, down by 1.35%. This situation may have led to an increase in uncertainties in the markets for investors.