Gorilla Technology Dismisses Misinformation, Confirms Intention to Acquire Shares by Company and Insiders
Gorilla Technology Group Inc. (NASDAQ: GRRR) has issued a statement addressing recent market developments. The company strongly refuted allegations made by individuals who are currently facing charges from both the SEC and DOJ for fraud and market manipulation.
In response to recent short selling pressure and the resulting share price decline, the company's Board of Directors has reaffirmed their commitment to utilize remaining funds from their previously announced share buyback program following the release of 2024 earnings statement. Additionally, a significant portion of the Board and the entire executive management team have expressed their intention to purchase shares after the earnings release.
The company maintains that its shares are deeply undervalued and has engaged legal counsel across multiple jurisdictions to address the situation.
Gorilla Technology Group Inc. (NASDAQ: GRRR) ha emesso una dichiarazione in merito agli sviluppi recenti del mercato. L'azienda ha fortemente smentito le accuse mosse da individui attualmente sotto accusa sia dalla SEC che dal DOJ per frode e manipolazione del mercato.
In risposta alla recente pressione da vendite allo scoperto e al conseguente calo del prezzo delle azioni, il Consiglio di Amministrazione dell'azienda ha ribadito il proprio impegno a utilizzare i fondi rimanenti del programma di riacquisto delle azioni precedentemente annunciato, dopo la pubblicazione del bilancio 2024. Inoltre, una parte significativa del Consiglio e l'intero team di gestione esecutiva hanno espresso l'intenzione di acquistare azioni dopo la pubblicazione dei risultati.
L'azienda sostiene che le proprie azioni siano profondamente sottovalutate e ha ingaggiato consulenti legali in diverse giurisdizioni per affrontare la situazione.
Gorilla Technology Group Inc. (NASDAQ: GRRR) ha emitido un comunicado abordando los recientes desarrollos del mercado. La compañía refutó con firmeza las acusaciones realizadas por individuos que actualmente enfrentan cargos tanto de la SEC como del DOJ por fraude y manipulación del mercado.
En respuesta a la reciente presión de ventas en corto y la consiguiente caída en el precio de las acciones, la Junta Directiva de la compañía ha reafirmado su compromiso de utilizar los fondos restantes de su programa de recompra de acciones previamente anunciado, tras la publicación del informe de ganancias de 2024. Además, una parte significativa de la Junta y todo el equipo de gestión ejecutiva han expresado su intención de comprar acciones después de la publicación de los resultados.
La compañía sostiene que sus acciones están profundamente subvaluadas y ha contratado asesoría legal en múltiples jurisdicciones para abordar la situación.
고릴라 테크놀로지 그룹 주식회사 (NASDAQ: GRRR)는 최근 시장 동향에 대한 성명을 발표했습니다. 회사는 현재 SEC와 DOJ로부터 사기 및 시장 조작 혐의로 기소된 개인들이 제기한 주장을 강력히 반박했습니다.
최근 공매도 압력과 그로 인한 주가 하락에 대응하여, 회사의 이사회는 2024년 실적 발표 이후 이전에 발표된 자사주 매입 프로그램의 잔여 자금을 활용하겠다는 의지를 재확인했습니다. 또한, 이사회의 상당 부분과 전체 경영진은 실적 발표 후 주식을 구매할 의사를 표명했습니다.
회사는 자사의 주식이 심각하게 저평가되어 있다고 주장하며, 상황을 해결하기 위해 여러 관할권에서 법률 자문을 구하고 있습니다.
Gorilla Technology Group Inc. (NASDAQ: GRRR) a publié une déclaration concernant les récents développements du marché. L'entreprise a fermement réfuté les allégations formulées par des individus actuellement accusés par la SEC et le DOJ de fraude et de manipulation de marché.
En réponse à la pression de vente à découvert récente et à la baisse subséquente du prix des actions, le Conseil d'administration de l'entreprise a réaffirmé son engagement à utiliser les fonds restants de son programme de rachat d'actions précédemment annoncé après la publication des résultats 2024. De plus, une part significative du Conseil et l'ensemble de l'équipe de direction ont exprimé leur intention d'acheter des actions après la publication des résultats.
L'entreprise maintient que ses actions sont profondément sous-évaluées et a engagé des conseils juridiques dans plusieurs juridictions pour traiter la situation.
Gorilla Technology Group Inc. (NASDAQ: GRRR) hat eine Erklärung zu den jüngsten Entwicklungen auf dem Markt abgegeben. Das Unternehmen hat die Vorwürfe von Personen, die derzeit sowohl von der SEC als auch vom DOJ wegen Betrugs und Marktmanipulation angeklagt werden, entschieden zurückgewiesen.
Als Reaktion auf den jüngsten Verkaufsdruck und den daraus resultierenden Rückgang des Aktienkurses hat der Vorstand des Unternehmens sein Engagement bekräftigt, die verbleibenden Mittel aus dem zuvor angekündigten Aktienrückkaufprogramm nach der Veröffentlichung des Gewinnberichts 2024 zu nutzen. Darüber hinaus haben ein erheblicher Teil des Vorstands und das gesamte Führungsteam ihre Absicht bekundet, nach der Veröffentlichung der Ergebnisse Aktien zu kaufen.
Das Unternehmen ist der Ansicht, dass seine Aktien stark unterbewertet sind und hat in mehreren Jurisdiktionen rechtliche Beratung eingeholt, um die Situation zu klären.
- Board and management team showing confidence through planned share purchases
- Company has active share buyback program with remaining funds
- Management taking active steps against market manipulation
- Stock facing significant short-selling pressure
- Share price has declined substantially
- Company facing allegations that require legal counsel engagement
London, United Kingdom--(Newsfile Corp. - March 24, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") issued a press statement.
"Gorilla Technology will not engage with baseless allegations spread by individuals charged by multiple authorities with fraud and market manipulation. Given the multiple charges filed by both the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) against those behind these claims, their credibility is highly questionable. Our legal counsels across multiple jurisdictions are currently engaged in this matter. We will let our results and our business strategy speak for themselves," said Jay Chandan, Chairman & CEO of Gorilla Technology.
Given the fall in the Company's share price in connection with recent short selling, Gorilla's Board of Directors once again believes the shares to be deeply undervalued. Therefore, the Company will utilize funds remaining under its previously announced share buyback programme following the release of its 2024 earnings statement if the share price continues to fail to reflect what the Board sees as the Company's intrinsic value.
In addition, it is the intent of a large portion of the Board and the entire executive management team to acquire shares following the Company's earnings release. Jay Chandan added, "We believe in this company, in our vision and in the undeniable momentum we have built. The market will eventually catch up and we are putting our money where our conviction is."
About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
For more information, please visit our website: Gorilla-Technology.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about the Company's intrinsic value and the ability of its board members and management team to purchase shares in the open market, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Contact:
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245792
FAQ
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