REG - Nanoco Group PLC - Litigation Update – Funded Law Suit Filed in China

NanocoAnnouncement

26/10/2022 14:45

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RNS Number : 2253E  Nanoco Group PLC  26 October 2022

FOR IMMEDIATE
RELEASE
                                26 October 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 China

 

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 that it has filed a law suit
against Samsung in China for the willful infringement of the Group's IP.

 

This third law suit against Samsung is based on a sister patent to one of the
patents in the US litigation. China is a significant market for the sale of
high-end televisions, and is estimated to be one of Samsung's larger markets
for the sale of QD TVs.

 

The Group is continuing its focused approach to litigation in different
jurisdictions to allow more rapid and less costly outcomes to be arrived at.
The Funder for the US litigation has agreed an expanded budget on similar
commercial terms as the existing funding to cover the litigation in China.

 

The Group continues to review options for litigation either in other
territories or against other parties that we believe may be infringing
Nanoco's world leading and patent protected technology.

 

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

"Expanding our actions against Samsung reflects our confidence in the merits
of our cases in the US and Germany. The litigation process in China is
expected to be faster than the US process, where multiple appeals can extend
for a number of years. A final outcome in China can be expected between one
and two years from filing suit. China is also another territory where an
injunction is more commonly available than in the US.

 

"We continue to pursue a patent litigation strategy that delivers fair value
for Nanoco's global IP portfolio. We are grateful to be well supported in
these endeavours by our Litigation Funding Partner and our legal advisers at
Mintz."

 

- Ends -

 

For further information, please contact:

 

 Nanoco Group PLC:                                  +44 (0) 1928 761422

 Brian Tenner, CEO

 Liam Gray, CFO

 Peel Hunt LLP (Joint Corporate Broker):            +44 (0) 20 7418 8900

 Paul Gillam

 James Smith

 Turner Pope Investments (Joint Corporate Broker):  +44 (0) 20 3657 0050

 Andrew Thacker

 James Pope

 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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