29th Sep 2021 20:32
Alphawave IP Group PLC - designs and licences chip technology - Note share price fall on Wednesday following Financial Times report. "The article in the Financial Times asserts that the company has not adequately disclosed its related party transactions, including VeriSilicon," the firm says. It says it signed a USD54 million multi-year exclusive subscription reseller agreement with VeriSilicon in February, prior to its London float, and has not recognised any revenue from that deal to date.
"Alphawave IP is committed to strong governance and transparent reporting," says Executive Chair John Lofton Holt. He adds: "Our deal with CPP is progressing according to plan and we look forward to closing another strong quarter and to reporting further progress in the coming weeks."
Current stock price: 180.40 pence, down 51% on Wednesday
Year-to-date change: down 56% from IPO price of 410p
By Lucy Heming;Â [email protected]
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