(Boursier.com) — SES-Imagotag is in the sights of Gotham City Research! Very bad news for the specialist in electronic labels and management systems for large retailers in view of the precedents of this well-known short seller for having attacked several companies such as Let’s Gowex and Quindell almost ten years ago. The ‘shorty’ does not question SES-Imagotag’s activity as such but points to accounting irregularities (“SESL’s financial statements are substantially misleading, incorrect and insufficient”), or even its controversial links with its main shareholder, BOE Smart Retail, which is also its biggest supplier and one of its biggest customers.
If Part I SESL Report, link: SES Imagotag: THE CIRCULAR DANCE WITH A CHINESE TWIRL – PART I | PDF | Income | Joint Venture (https://t.co/0skf4U5DBj) https://t.co/wG71ZuHfM5 — Gotham City Research (@GothamResearch), through Twitter
Gotham City is also questioning the recent contract with Walmart and says the group, which now weighs more than 2 billion euros on the Paris market, should trade between 15 and 30 euros per title, if it simply traded on ratios in line with its peers.
The stock is currently priced lower on Euronext.
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