REG - Nanoco Group PLC - 2024 Annual Report

NanocoAnnouncement

25/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241125:nRSY4851Na&default-theme=true

RNS Number : 4851N  Nanoco Group PLC  25 November 2024

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
(http://www.morningstar.co.uk/uk/NSM) . The Document is also available on the
Company's website at www.nanocotechnologies.com
(http://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."

 Nanoco Group plc:

 Christopher Richards, Chairman                                                +44 (0)1928 761 404

 Dmitry Shashkov, CEO

 Liam Gray, CFO & Company Secretary

 Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker):

 Ed Frisby / George Lawson (Corporate Finance)                                 +44 (0) 20 7220 0500

 Tim Redfern / Charlie Combe (Corporate Broking)

 Jasper Berry (Sales)

 CDX Advisors (Financial Adviser):

 Steven Foland                                                                 +1 415 425 2224

 Steve Month

 Patrick Foley

 Sodali & Co (Public Relations)

 Elly Williamson                                                               +44 (0)79 3535 1934

 Pete Lambie

 Nanoco@sodali.com (mailto:Nanoco@sodali.com)

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
(http://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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACSFFFVLLFLSFIS