Adler "strongly rejects" Viceroy allegations after 33% slump

Adler Real Estate AG

06/10/2021 17:01

** Adler Group says it "strongly rejects" allegations made by
Viceroy Research in a report that sent shares in the German
property group falling as much as 33% in heavy volumes     
** "A key allegation is that the real estate asset values on
ADLER’s balance sheet are artificially inflated. This is
evidently false," Adler says in an emailed note just before the
market close  urn:newsml:reuters.com:*:nL8N2R24ED  
** "...contrary to the report, no default under notes issues by
ADLER or any of its subsidiaries has occurred or is continuing,"
it also says, adding it is preparing a more detailed response
** Viceroy Research says it is short the German property group
and its listed subsidiaries, claiming: "Its balance sheet has
been artificially inflated to a significant degree, its shares
are not investible..."
** Adler Group shares close 25.9% lower with trading volumes
15.6 times 30-day average. Shares in Adler Real Estate  ADLG.DE 
shares down 19.6%
** Rumours about Viceroy Research report targeting Adler emerged
already in June  urn:newsml:reuters.com:*:nL5N2O62JG 

 (Reporting by Danilo Masoni)
 ((Danilo.Masoni@TR.com))