TIDMNANO
RNS Number : 2229K
Nanoco Group PLC
20 December 2022
20 December 2022
NANOCO GROUP PLC
("Nanoco", the "Group", or the "Company")
AGM Statement
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other specific
nanomaterials emanating from our technology platform, will hold its
Annual General Meeting ("AGM") later this morning. Details of the
arrangements were included in the Notice of Meeting issued on 4
November 2022.
The Company will make the following statement in respect of the
first four months of the financial year ending 31 July 2023 ("the
Period").
Operational and trading update
Financial performance in the Period has been comfortably in line
with the Board's expectations. We continue to deliver R&D
services under a number of contracted development programmes with
different customers in the sensing market and are seeing an
increase in demand for volumes of development materials.
We have a high level of confidence that we will receive
sensing-application production orders in calendar year 2023, based
on our visibility of customer final validation plans. As noted in
our Preliminary Results, engagement from customers interested in
our CFQD(R) materials for display applications also continues to
grow.
Nanoco's organic business remains underpinned by the enhanced
and extended funding put in place following the significantly
over-subscribed fundraise in June 2022.
Samsung Litigation Update
As announced on 9 December 2022, the Group now has a firm date
of 6 January 2023 for the start of its trial against Samsung in the
Eastern District of Texas. The trial is expected to last one
working week at the end of which the jury will deliver a verdict on
whether Samsung has infringed Nanoco's IP, on whether any
infringement was deliberate ('wilful'), the value of any damages
award for sales of infringing units up to the date of the trial,
and if a future 'running' royalty should also be awarded.
In November, Samsung submitted its appeals against the findings
of the Patent Trial and Appeal Board which rejected all of
Samsung's challenges against Nanoco's five patents and all 47
associated claims in the case. A final outcome to the PTAB appeals
is expected in Q3 of CY23.
The Board looks forward to the opportunity to put our case to
the court in Texas in January 2023, as well as progressing the law
suits that Nanoco recently filed in Germany and China.
In summary, the Board remains confident that both the organic
business and the litigation are sources of potentially significant
shareholder value that will be transformative for the Group's
prospects.
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO
+44 (0)1928 761 404
Liam Gray, CFO & Company Secretary
Peel Hunt (Joint Corporate Broker):
Paul Gillam +44 (0) 20 7418 8900
James Smith
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
MHP : +44 (0) 203 128 8100
Reg Hoare
Pete Lambie
nanoco@mhpgroup.com
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 Runcorn, 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.
visit: www.nanocotechnologies.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMEAKANFLEAFFA
(END) Dow Jones Newswires
December 20, 2022 02:00 ET (07:00 GMT)
Nanoco (AQSE:NANO.GB)
Historical Stock Chart
From Dec 2024 to Jan 2025
Nanoco (AQSE:NANO.GB)
Historical Stock Chart
From Jan 2024 to Jan 2025
