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 funded by the World Bank for a period of 12 months. According to the company's statement, the examinations regarding a bidding process conducted in the context of the Emergency Development Project in the Republic of Iraq have been completed. The process, which resulted in a settlement agreement between the parties, affected the company's participation in projects.

Settlement Agreement and Future Process

The statement included, “After this period, if obligations are fulfilled, our company and its subsidiaries will be able to re-engage in the relevant projects during an additional 12-month conditional participation period,” The company also noted that this situation would not negatively impact 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 stakeholders. Developments regarding the situation will be shared with the public in accordance with Capital Market Legislation.

Market Effects

Following the news, KONTR shares began trading at a level of 13.93 TL, experiencing a negative trend with a decline of 1.35% in the morning hours. This situation may have led to increased uncertainties in the markets for investors.