REG - Nanoco Group PLC - Response to Shareholder Letter

NanocoAnnouncement

19/05/2023 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230519:nRSS0649Aa&default-theme=true

RNS Number : 0649A  Nanoco Group PLC  19 May 2023

19 May 2023

NANOCO GROUP PLC

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

 

Response to Shareholder Letter

 

Nanoco notes the contents of a second letter that has been circulated to
shareholders by Tariq Hamoodi. This follows Mr Hamoodi's letter issued via RNS
Reach in March, which has since been removed from the LSE's website.

Nanoco has sought to engage with Mr Hamoodi, including responding to his
initial letter. A copy of Nanoco's letter to Mr Hamoodi is available here
http://www.rns-pdf.londonstockexchange.com/rns/0649A_1-2023-5-19.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0649A_1-2023-5-19.pdf) .

Nanoco's Board continues to emphatically reject Mr Hamoodi's speculative
concerns about certain actions and activities involving Nanoco, and does not
believe the proposed Board changes are in the best interests of shareholders.

As previously announced, the Directors of Nanoco have no intention of stepping
down from the Board and are confident that the Board's actions and statements
over the period of the Samsung litigation were in line with its corporate
governance duties, obligations and standards.

Christopher Richards, Non-Executive Chairman of Nanoco, said

"We continue to emphatically reject Mr Hamoodi's speculative concerns. The
Board welcomes scrutiny, but his misinterpretation of the past, and
consciously selective and factually inaccurate disclosure, including the
publication of heavily edited videos, presents a number of events out of
context to create a false narrative to mislead our shareholders.

"The proposed Board changes are not in the best interests of the Company or
its shareholders, and would give undue influence to a disgruntled minority
shareholder. Nanoco is at an exciting inflection point, with the litigation
proceeds fully underpinning our organic business which has significant growth
opportunities.

"Mr Hamoodi's proposals would be damaging and disruptive to Nanoco's future
prospects and, if successful, would result in an exodus of key talent from the
business."

 

- Ends -

For further information, please contact:

Nanoco Group PLC:

Dr Christopher Richards, Non-Executive Chairman

Brian Tenner, CEO
 
 +44(0)1928761404

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 8570

Reg Hoare

Pete Lambie

Veronica Farah

nanoco@mhpgroup.com

 

 

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 size-tunable 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 (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  RSPBBGDUGUBDGXC