Temporary concordat commissioner committee was appointed for Uşak Seramik

The application of the company, which continues its production activities in the Banaz district of Uşak, was evaluated by the Banaz 2nd Civil Court of First Instance. With the decision dated September 29, 2026, a temporary concordat commissioner committee consisting of three people was appointed. The company stated that the application was made for the purpose of restructuring debts and continuing commercial activities.

PROTECTION DECISION FROM THE COURT

Within the scope of the measures taken by the court, new enforcement and bankruptcy proceedings cannot be initiated against the company, except for privileged receivables specified in the law. Tracking that started earlier will stop for a temporary period. Proceedings regarding pledged receivables can continue, but pledged goods cannot be sold.

Shortly before the concordat application, the company had a payment problem. The redemption and coupon payment that was supposed to be made on September 22 for the private sector debt instrument issued by Uşak Seramik could not be made on time. The company explained that this was due to a technical and operational glitch during the payment and fund transfer and reported that the procedures were continuing to make the payment on September 23.

A DECISION WAS ALSO CAME FROM BORSA ISTANBUL

Following the start of the concordat process, Borsa Istanbul also made a new decision regarding Uşak Seramik shares. It was decided to include USAK shares in the Close Monitoring Market. The trading order for the shares will remain closed on September 30 and will begin trading again on the Watch Market as of October 1.

Short selling and margin trading bans were previously imposed on company shares within the scope of the Volatility Based Measures System. It was announced that the measure in question would be implemented from September 25 until the end of the session on October 23, 2026.

In the next period, the decisions of the court and the examinations of the concordat committee will be decisive for the future of the company.