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ROUNDUP: It takes S&T a few days to fully respond to the Viceroy report

Thursday, 12/16/2021 6:08 PM from

dpa-AFX

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LINZ (dpa-AFX) – The Austrian IT service provider S&T wants to comment in detail on the allegations of financial investor Viceroy Research as soon as possible. Since some of these related to possible compliance violations that occurred a long time ago, some time was required for this, according to the SDax listed companies on Thursday in Linz. The price of the S&T paper had plummeted by up to 34 percent according to the report published by Viceroy Research at noon and barely recovered even after the company’s statement.

“In the next few days we will examine the report and the allegations contained internally and externally in detail and then come back with a detailed, public statement as well as a specific package of measures,” said the group. The company is in the process of analyzing the report in detail and needs some time to do so, “as some allegations concern old processes from the time before the current management of S&T AG and are not related to either the current management or S&T AG itself . “

According to S&T, the main reason for the report does not lie in the operational performance of the group, but in alleged compliance violations, some of which were more than ten years ago. There was also no contact between Viceroy Research and S&T AG prior to the publication. According to the announcement, CEO Hannes Niederhauser said: “We confirm that the operational performance of S&T AG is in the range of the current guidance for the 2021 financial year.”

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