Bidstack falls as co denies media reports of litigation with Azerion

Bidstack

28/10/2022 08:48

** Shares of in-game advertising firm Bidstack group
 BIDS.L  down as much as 14.8% at 2.3p, touch their lowest
levels in more than four months
    ** Co says it has received email from its Netherlands-based
commercial partner Azerion, requesting certain information and
reserving its rights under the Azerion agreement
    ** Bidstack says group's arrangements on commercial level
with Azerion continue to be operated on a "business as usual"
    ** Co denies media reports and says there is no litigation
with Azerion and contract with Azerion continues to operate as
expected
    ** Bidstack adds it has responded to Azerion with detailed
information, and has concluded Azerion has no present
entitlement to end its contract with Group
    ** Co also confirms there is no discussions with Azerion
regarding any offer 
    ** Including session's losses, stock down 46.7% YTD
 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))