UK's Bidstack slides after Azerion's notice to end contract

Bidstack

03/01/2023 09:26

** Shares of in-game advertising firm Bidstack Group
 BIDS.L  drop as much as 33% to 1.85p — their lowest in over a
year
    ** Co gets notice from Netherlands-based commercial partner
Azerion, to exercise its "alleged right" to terminate an
agreement with co
    ** In December 2021, co had signed a two-year commercial
deal with Azerion for exclusive access to all of Bidstack's
advertising formats and become the firm's exclusive external
reseller
    ** Co says Azerion has no present entitlement to end the
agreement, intends to claim damages for unlawful termination
    ** Shares of Bidstack were down 43% in 2022 at the close of
trade on Dec. 30
 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))