TIDMNANO
RNS Number : 9622W
Nanoco Group PLC
23 August 2022
FOR IMMEDIATE RELEASE 23 August 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").
Nanoco Group PLC
( " Nanoco", the " Group", or the " Company")
Litigation Update - Funded Law Suit Filed in Germany
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other specific
nanomaterials emanating from its technology platform, announces an
update to its litigation against Samsung for the willful
infringement of the Group's IP.
The Company has filed a law suit against Samsung in Germany
based on a sister patent to one of the patents in the US
litigation. Germany is one of the largest European markets for the
sale of high-end televisions. This highly focused approach will
allow us to pursue the litigation more quickly and at a lower cost.
The Funder for the US litigation has agreed an expanded budget on
similar commercial terms as the existing funding.
The Group is actively reviewing options for similar litigation
in other territories where its unique and world leading technology
has been patented and where Samsung is believed to have significant
sales.
Brian Tenner, Chief Executive Officer of Nanoco Group plc,
said:
"We have been clear from the beginning that Nanoco's IP
portfolio is global in nature and will be defended as such. We
continue to benefit from the support of our Funder and of the lead
legal team at Mintz. Their stance reflects their confidence in the
strength of our case globally.
"Expanding our action at this time reflects our confidence in
the case in the US. It is also noteworthy that the standard remedy
under German law is for an injunction and removal of infringing
products from sale which would effectively stop Samsung from
selling infringing products unless a financial settlement was
agreed between the parties. The litigation process in Germany also
tends to be faster which will also help in our pursuit of fair
value for shareholders."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO
+44 (0) 161 603 7900
Liam Gray, CFO +44 (0) 161 603 7900
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
Peel Hunt LLP (Joint Corporate Broker):
Paul Gillam +44 (0) 20 7418 8900
James Smith
MHP Communications : +44 (0) 203 128 8570
Reg Hoare
Pete Lambie
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, Company
Secretary.
MAR
This Announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (withdrawal) Act
2018. Upon the publication of this announcement via a Regulatory
Information Service, this inside information will be considered to
be in the public domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
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 and other
nano-materials. 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, Sensor and
Electronics markets. An interesting property of quantum dots is
their absorption spectrum. Nanoco's HEATWAVE(TM) quantum dots can
be tuned to absorb light at different wavelengths across the
near-infrared spectrum, rendering them useful for applications
including image sensors. Another interesting property 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 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.nanocotechnologies.com.
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