SES-imagotag announced on Thursday that it intends to alert the Autorité des Marchés Financiers (AMF) to the attacks to which it has recently been subjected by the American fund Gotham.

The specialist in electronic labels for physical stores also says it plans to take all necessary steps to defend its interests, including filing a complaint with the Parquet National Financier for 'dissemination of false and misleading information'.

Gotham City Research, a specialist in short-selling, published a damning report just a week ago calling into question the integrity of the company's financial statements.

In a press release, SES points out that its auditors Deloitte and KPMG have issued an attestation stating that transactions with its Chinese shareholder BOE have been neutralized and are therefore not included in the group's consolidated sales.

This invalidates Gotham City's central argument on which the accusation of double-counting of circular revenues with BOE and overstatement of sales and earnings was based", it explains.

In order to reassure investors in this climate, which it believes is aimed at destabilizing the company, SES-imagotag has declared that its activity in the second quarter of 2023, which is now drawing to a close, will set an "all-time record", with consolidated sales exceeding the 200 million euro mark for the first time.

Overall, the first half of the year will also be the company's best ever, with consolidated sales growth expected to exceed 30%, in line with annual targets.

Following these clarifications, the share price recovered by more than 14% on Thursday morning at around 10:20 a.m., and was by far the biggest gainer on the SBF 120 index, up by 0.3%.

Since the publication of the Gotham accusations, the share price has lost a further 40%, bringing its market capitalization down to around 2.7 billion euros.

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