Australia's Vection Technologies rises after new contracts with Nestlé, Natuzzi

Natuzzi SpA

09/12/2024 02:41

** Shares of Vection Technologies  VR1.AX  rise as much as
25% to A$0.025, their highest levels since Dec 2
    ** Stock logs its best trading session since mid-November
    ** Co announces new contracts with luxury furniture brand
Natuzzi  NTZ.N  and Nestlé  NESN.S , collectively valued at
A$0.5 mln ($319,800)
    ** Says partnership positions co's AI and XR (extended
reality) ecosystem as a transformative tool in luxury furniture
and real estate markets
    ** Says Nestlé renewed its two-year Shelfzone license, which
required the co to create custom 3D content integrations, among
others
    ** Shelfzone is Vection's retail space simulation platform
    ** Stock has fallen 4.8% YTD, as of last close

    ($1 = 1.5635 Australian dollars)

 (Reporting by Namrata Verma in Bengaluru)
 ((namrata.verma@thomsonreuters.com))