REG - Nanoco Group PLC - Board and Management Change

NanocoAnnouncement

25/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240725:nRSY7347Xa&default-theme=true

RNS Number : 7347X  Nanoco Group PLC  25 July 2024

  For immediate release

Nanoco Group PLC

("Nanoco", the "Group", or the "Company")

 

Board and Management Change

 

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, today announces a future organisation
change intended to support the company's success.

Having led the company through a period of significant change and delivered
financial stability, CEO Brian Tenner has advised the Board of his intention
to leave the Company to pursue new opportunities.

The Board and Brian have agreed that he will stay in role until a successor
has been appointed and provide a period of handover and consultation. A search
is underway to identify a CEO with a proven track record of commercial success
in the sector.

The market has previously been advised that Chris Richards would step down as
chairman at the next AGM of the company, after nine years on the Board.
However, Chris Richards has now committed to stay in role and provide
continuity until a new CEO is in place.

Christopher Richards, Chairman of Nanoco Group plc, said:

"The Board is grateful to Brian for leading the business through challenging
times in which we achieved a number of significant milestones, not least the
settlement of litigation with Samsung. The financial outcome allowed us to
reward shareholders for their support with a return of capital but also
underpinned a solid foundation for the future in the company's strong cash
position. A new CEO will be able to take the business forward on that basis
and focus on further developing the company's commercial traction. On behalf
of everyone at Nanoco, the Board thanks Brian for his substantial contribution
and wishes him and his family all the best for the future."

Brian Tenner, CEO of Nanoco Group plc, said:

"I have been honoured to lead the talented team at Nanoco while building the
business for six years, first as COO and CFO and then as CEO. The transition
to a period in which a successor can focus squarely on the commercial
development of the company is a good moment to start the process of
identifying the successful candidate and handing the baton on."

 

For further information, please contact:

 

 Nanoco Group plc:                                                                                           +44 (0)1928 761 404

 Brian Tenner, CEO

 Liam Gray, CFO & Company Secretary
 Cavendish Capital Markets Limited (Financial Adviser & Corporate Broker):                                   +44 (0) 20 7220 0500

 Ed Frisby / George Lawson (Corporate Finance)

 Tim Redfern / Charlie Combe (Corporate Broking)

 Jasper Berry (Sales)
 Sodali & Co (Public                                                                                          +44 (0)7970 246 725
 Relations):

 Elly Williamson

 Peter Lambie

 Nanoco@powerscourt-group.com

 

About Nanoco Group plc

 

Nanoco (LSE: NANO) is a nanomaterial production and licensing company,
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 the scaling of the
production 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 spectrum, 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  BOASEFFWLELSELW