Nanoco Group PLC Change of Auditor (6033O)
31 January 2019 - 6:01PM
UK Regulatory
TIDMNANO
RNS Number : 6033O
Nanoco Group PLC
31 January 2019
31 January 2019
NANOCO GROUP PLC
("Nanoco", the "Group", or the "Company")
Change of Auditor
Following a formal tender process, Nanoco is pleased to announce
the appointment of PwC LLP ('PwC') as its new auditor with effect
from the current financial year ending 31 July 2019.
Ernst & Young LLP ('EY') have now resigned as auditor of the
Company and its subsidiaries following the completion of the 31
July 2018 audit. EY did not participate in the tender process
having been auditor to the Group for ten years since 2008, nine of
which the Company was a listed entity.
In accordance with section 519 of the Companies Act 2006, EY has
deposited a statement with the Company detailing the circumstances
connected with them ceasing to hold office as auditor of the
Company (the "Statement"). The Statement confirms that EY resigned
as auditor following the competitive tender.
The appointment of PwC as auditor for the current financial year
has been made by the Directors to fill the casual vacancy arising
on the resignation of EY. This appointment will be subject to
approval by shareholders at the next Annual General Meeting of the
Company to be held in 2019.
- Ends -
For further information, please contact:
Nanoco Group PLC:
Brian Tenner, COO & CFO 44 (0) 161 603 7900
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots. Within the sphere of
quantum dots, the Group exploits different characteristics of the
quantum dots to target different performance criteria that are
attractive to specific markets or end-user applications such as the
Display and Electronics markets. One of the interesting properties
of quantum dots is photoluminescence: the emission of longer
wavelength light upon excitation by light of a shorter wavelength.
The colour of light emitted depends on the particle size. Nanoco's
CFQD(R) quantum dots are free of cadmium and other toxic heavy
metals, and can be tuned to emit light at different wavelengths
across the visible and infrared spectrum, rendering them useful for
a wide range of applications including displays, lighting and
biological imaging.
Nanoco has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company, Merck KGaA of
Germany and Wah Hong Industrial Corporation of Taiwan.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocogroup.com.
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END
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