REG - Nanosynth Group PLC - Financial Position

NanosynthAnnouncement

06/04/2023 15:15

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RNS Number : 6797V  Nanosynth Group PLC  06 April 2023

The information contained within this announcement is deemed by the Company to
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(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.  Upon the publication of this
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nanosynth group plc

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

 

Financial Position

 

 

 

nanosynth group plc, the AIM quoted company specialising in the synthesis and
application of nanoparticles to create new and improve existing products,
announces that with its current cash resources and an expected VAT rebate, the
Company has sufficient cash resources to finance its operations through to
June 2023 (not factoring in any capital expenditure). In addition, the Company
is finalising a claim for a Research & Development tax credit, which may
provide additional working capital beyond this date.

 

The Company does not currently generate significant revenue and the Directors
are conscious of the need to secure longer term financing for the business.
The Board is evaluating a number of potential funding options but there can be
no assurance that these will be successfully completed within the required
time frame.

 

 

 

ENQUIRIES:

 

 nanosynth group plc                     via IFC Advisory
 Mark Duffin (Chief Executive Officer)

 SP Angel Corporate Finance LLP          +44 20 3470 0470
 Nominated Adviser and Broker
 Stuart Gledhill
 Kasia Brzozowska

 IFC Advisory Ltd                        +44 20 3934 6630
 Graham Herring
 Zach Cohen

 

 

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