REG - Nanoco Group PLC - AGM Statement

NanocoAnnouncement

20/12/2022 07:00

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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® 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™ 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® 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.

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