Folli Follie: continues plunge despite buyback announcement

Folli Follie SA

08/05/2018 09:57

** Shares in Folli Follie  HDFr.AT  drop 10.2 percent, extending losses
after a 51 percent dive in last two sessions 
    ** Quintessential Capital Management (QCM), which has a short position on
the stock, said last week Folli overstated the number of its points of sales
    ** Folli called report defamatory, announced 587 points of sales
    ** Greek securities watchdog asked for an independent audit into the
company's 2017 financial statements  urn:newsml:reuters.com:*:nL8N1SE1AU urn:newsml:reuters.com:*:nL8N1SB38Q
    ** Folli board decides to activate share buyback scheme, to buy up to 10
percent of share capital or 6,636,413 shares by June 30, 2019  urn:newsml:reuters.com:*:nFWN1SF0D5

 (RM:angeliki.koutantou.thomsonreuters.com@reuters.net)