REG - Nanoco Group PLC - Funded Law Suit Filed in Germany

NanocoAnnouncement

23/08/2022 14:30

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RNS Number : 9622W  Nanoco Group PLC  23 August 2022

FOR IMMEDIATE
RELEASE
                                23 August 2022

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").

 

Nanoco Group PLC

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

 

Litigation Update - Funded Law Suit Filed in Germany

 

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, announces an update to its litigation
against Samsung for the willful infringement of the Group's IP.

 

The Company has filed a law suit against Samsung in Germany based on a sister
patent to one of the patents in the US litigation. Germany is one of the
largest European markets for the sale of high-end televisions. This highly
focused approach will allow us to pursue the litigation more quickly and at a
lower cost. The Funder for the US litigation has agreed an expanded budget on
similar commercial terms as the existing funding.

 

The Group is actively reviewing options for similar litigation in other
territories where its unique and world leading technology has been patented
and where Samsung is believed to have significant sales.

 

Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:

"We have been clear from the beginning that Nanoco's IP portfolio is global in
nature and will be defended as such. We continue to benefit from the support
of our Funder and of the lead legal team at Mintz. Their stance reflects their
confidence in the strength of our case globally.

 

"Expanding our action at this time reflects our confidence in the case in the
US. It is also noteworthy that the standard remedy under German law is for an
injunction and removal of infringing products from sale which would
effectively stop Samsung from selling infringing products unless a financial
settlement was agreed between the parties. The litigation process in Germany
also tends to be faster which will also help in our pursuit of fair value for
shareholders."

 

- Ends -

 

For further information, please contact:

 

Nanoco Group PLC:

Brian Tenner, CEO
 
                                    +44 (0) 161 603 7900

Liam Gray, CFO
 
+44 (0) 161 603 7900

 

Turner Pope Investments (Joint Corporate Broker):

Andrew
Thacker
+44 (0) 20 3657 0050

James Pope

 

Peel Hunt LLP (Joint Corporate Broker):

Paul
Gillam
+44 (0) 20 7418 8900

James Smith

 

MHP
Communications:
+44 (0) 203 128 8570

Reg Hoare

Pete Lambie

nanoco@mhpc.com

 

The person responsible for arranging for the release of this announcement on
behalf of Nanoco is Liam Gray, Company Secretary.

MAR

This Announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018.  Upon the publication of this
announcement via a Regulatory Information Service, this inside information
will be considered to be in the public domain.

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 Manchester, 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.

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