Appeal Court Makes Ruling for Sakht Construction Final, With a Company-Estimated Effect Equal to 19% of Market Value

Sakht International Construction (BSTE) said in a group-B Codal disclosure on Wednesday, October 21, 2026 that Branch 75 of the Tehran Provincial Appeals Court, in a ruling dated October 17, 2026 (25 Mehr 1405), upheld in full the first-instance verdict in a criminal and civil case over contracts to build a commercial project in Belarus. Under that verdict, the defendant, a 30% partner in the counterparty company, must return 4.4 million euros to the company and pay a 1.325 million euro fine to the state.

The company puts the estimated financial effect at about 13,275 billion rials on its own preliminary calculations: equal to 19% of its market value, more than three times last fiscal year's operating revenue and about 12% of the book value of its assets. This is the issuer's estimate, not an amount recognised in its accounts. BSTE stood at 826 rials at the end of that day's trading, down 2.94%.