|
Related Companies
|
[]
|
||||||||
|
Related Funds
|
[]
|
||||||||
|
|
|||||||||
|
English
|
|||||||||
|
oda_MaterialEventDisclosureGeneralAbstract|
|
|
||||||||
|
oda_UpdateAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
-
|
|||||||
|
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_AnnouncementContentSection|
|
|
||||||||
|
oda_ExplanationSection|
|
|
||||||||
|
oda_ExplanationTextBlock|
|
With our company's disclosures dated October 4, 2024 and November 27, 2024, it was announced that the tender for 4x4 Light Armored Tactical Wheeled Vehicles issued by the Romanian Ministry of National Defense company C.N. Romtehnica S.A. (Romtehnica) was awarded to our Company; a total of 1,059 units of 4x4 Light Armored Tactical Wheeled Vehicles would be sold to Romtechnica, with the first 278 units to be manufactured at Otokar's facilities, and the remaining to be manufactured in Romania, and that the deliveries are planned to be completed within 5 years starting form the last quarter of 2025.
Romtehnica has submitted a compensation claim for a total of 191,847,899.70 Romanian Lei (approximately 1.880 million TL at current exchange rates) to our Company, alleging the failure to meet the interim targets for local production preparations in a timely manner for the units to be manufactured in Romania. A lawsuit has been filed to annul this claim, and discussions between the parties are ongoing. Yet, our Company shall make the payment regarding the mentioned claim on its due date (today), by reserving its legal rights.
On the other hand, an additional compensation claim for a total of 7,295,974.66 Romanian Lei (approximately 72 million TL at current exchange rates) has been submitted to our Company due to the late delivery of 194 units from the first batch of units to be manufactured at the Otokar facilities, the sale of which was completed and this amount is envisaged to be paid within January by reserving our rights.
It is anticipated that the related payments shall be expensed by offsetting the revenues from the contract for 2025.
While the current delays and disputes may negatively impact the continuation of the project and may lead to additional compensation claims, efforts are underway to resolve the disputes and continue fulfilling our contractual obligations.
Considering that the disclosure of the matters specified in Romtehnica's payment claims received on December 17, 2025 and December 24, 2025 could harm the legitimate interests of our Company during the discussions to be held between the parties, and that disclosing matters that may be subject to change depending on the outcome of these discussions might mislead investors; it was decided to postpone the disclosure in accordance with the Capital Markets Board's Material Events Communiqué until the conclusion of the discussions. This disclosure is being made as the conditions for postponement have ceased to exist due to the inability to maintain confidentiality.
Material developments will be disclosed to the public.
This statement has been translated into English and simultaneously announced for informational purposes. In the event of any discrepancy between the Turkish and the English versions, the Turkish version shall prevail.
|
||||||||