SES Imagotag up after it rejects Gotham City's allegations in detailed response

Vusion SA

26/06/2023 08:47

** Shares in SES Imagotag  SESL.PA  rise around 6% after the
French smart digital labels specialist gave a detailed response
where it rejected all allegations made in Gotham City Research's
shortselling report last week
    ** It says the fraud alluded to in the report "does not
exist" and there is "no overstatement of the company's revenue
or profit"
    ** Gotham's report published on Thursday said SES Imagotag's
financial statements were "materially misleading, incorrect, and
deficient"
    ** Trading of the company's shares was temporarily halted on
Thursday only to be resumed on Friday, when they fell around 58%
    ** The shares are on track for best day since early May

 (Reporting by Olivier Cherfan in Gdansk)
 ((olivier.cherfan@thomsonreuters.com))