FOR IMMEDIATE RELEASE
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").
25 November 2024
NANOCO
GROUP PLC
("Nanoco"
or the "Company")
2024
Annual Report
Nanoco confirms that its Annual
Report and Accounts for the financial year ended 31 July 2024 (the
"Document") has been made available to shareholders. Shareholders
opting out of electronic communication will receive a paper copy of
the Document.
Pursuant to Listing Rule 6.4.1,
copies of the Document have also been submitted to the National
Storage Mechanism and will shortly be available for inspection
at: http://www.morningstar.co.uk/uk/NSM.
The Document is also available on the Company's website at
www.nanocotechnologies.com
and from the Company's registered office at the
Science Centre, The Heath Business and Technical Park, Runcorn, WA7
4QX.
The Group released Unaudited Group
Preliminary Results for the year ended 31 July 2024 on 20 November
2024 due to work continuing on the year end audit which is now
complete. As part of this process, the Company commissioned an
external valuation exercise of the value of its investment in its
subsidiaries, within which the Group's intellectual property
resides. The valuation report received by the Company supports the
carrying value of £46 million as reported in the Company's balance
sheet contained in the Group's Annual Report and Accounts for the
year ended 31 July 2024.
Commenting on the external valuation
exercise, Dmitry Shashkov, CEO of Nanoco, said:
"While we are pleased that the
independent valuation exercise has confirmed the Board's view that
there is significant value in the Company's intellectual property,
it is important to be clear that this is an accounting exercise
based on accounting methodologies. Realising this value for
shareholders will depend on a number of factors, producing a range
of outcomes and valuation scenarios. As previously advised,
following the settlement with Samsung we are working hard to ensure
that we protect this valuable IP against potential infringers while
exploring other strategic options."
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Nanoco Group plc:
Christopher Richards,
Chairman
Dmitry Shashkov, CEO
Liam Gray, CFO & Company
Secretary
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+44 (0)1928 761 404
|
|
Cavendish Capital Markets
Limited (Financial Adviser and Corporate Broker):
Ed Frisby / George Lawson (Corporate
Finance)
Tim Redfern / Charlie Combe
(Corporate Broking)
Jasper Berry (Sales)
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+44 (0) 20 7220 0500
|
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CDX Advisors (Financial
Adviser):
Steven Foland
Steve Month
Patrick Foley
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+1 415 425 2224
|
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Sodali & Co (Public
Relations)
Elly Williamson
Pete Lambie
Nanoco@sodali.com
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+44 (0)79 3535 1934
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The person responsible for arranging
for the release of this announcement on behalf of Nanoco is Liam
Gray, Chief Financial Officer.
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) is a nanomaterial
production and licensing group, specialising in the production of
its patented cadmium free quantum dots (CFQD®) and other patented
nanomaterials for use in the electronics industries. Founded in
2001 and headquartered in Runcorn, UK, Nanoco continues to build
out a world-class, patent-protected IP portfolio alongside its
existing scaled up production facilities for commercial
orders.
Nanomaterials are materials with
dimensions typically in the range 1 - 100 nm. Nanomaterials have a
range of useful properties, including optical and electronic.
Quantum dots are a subclass of nanomaterial that have
size-dependent optical and electronic properties. 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
Sensor, Electronics and Display markets. Nanoco's CFQD® 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
display applications. Nanoco's HEATWAVE™ quantum dots can be tuned
to absorb light at different wavelengths across the near-infrared
spectra, rendering them useful for applications including cameras
and image sensors.
Nanoco is listed on the Main Market
of the London Stock Exchange, holds the LSE's Green Economy Mark,
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com
