FORD OTOMOTİV SANAYİ A.Ş.

Material Event Disclosure (General)

Publish Date:22.02.2021 09:11:13
Disclosure Type:ODA
Year:
Period:

Summary

Filing a lawsuit

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English
Material Event Disclosure General
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Announcement Content
Explanations

As a result of the internal control investigation carried out in our company; the Receivables Team Leader and the employee who follows dealer receivables, have been determined to have made irregularities on dealer current accounts and the dealer limits in the direct debit system, reporting dealer receivables and risks different than they are and as a result committed an act of misconduct. Our investigation on the issue continues.

  

In this respect a criminal complaint has been filed against these persons with the charges of misappropriation, their employment contracts have been terminated immediately and also a lawsuit has been filed for compensating TRY 247.8 million – due to receivables risk identified as of today – while reserving the right to claim further damages.

  

Although the receivables that are the subject of irregularities were included in our financial statements, we understand that the aged receivables tables in the footnotes of our financial statements do not reflect the current situation. The study on the final impact of these actions on our financial statements continues.   

  

We will share any material developments with our investors.

We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.