AGM Statement

RNS Number : 2229K

Nanoco Group PLC

20 December 2022

 

20 December 2022

NANOCO GROUP PLC

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

AGM Statement

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, will hold its Annual General Meeting ("AGM") later this morning. Details of the arrangements were included in the Notice of Meeting issued on 4 November 2022.

The Company will make the following statement in respect of the first four months of the financial year ending 31 July 2023 ("the Period").

Operational and trading update

Financial performance in the Period has been comfortably in line with the Board's expectations. We continue to deliver R&D services under a number of contracted development programmes with different customers in the sensing market and are seeing an increase in demand for volumes of development materials.

We have a high level of confidence that we will receive sensing-application production orders in calendar year 2023, based on our visibility of customer final validation plans. As noted in our Preliminary Results, engagement from customers interested in our CFQD® materials for display applications also continues to grow.

Nanoco's organic business remains underpinned by the enhanced and extended funding put in place following the significantly over-subscribed fundraise in June 2022.

Samsung Litigation Update

As announced on 9 December 2022, the Group now has a firm date of 6 January 2023 for the start of its trial against Samsung in the Eastern District of Texas. The trial is expected to last one working week at the end of which the jury will deliver a verdict on whether Samsung has infringed Nanoco's IP, on whether any infringement was deliberate ('wilful'), the value of any damages award for sales of infringing units up to the date of the trial, and if a future 'running' royalty should also be awarded.

In November, Samsung submitted its appeals against the findings of the Patent Trial and Appeal Board which rejected all of Samsung's challenges against Nanoco's five patents and all 47 associated claims in the case. A final outcome to the PTAB appeals is expected in Q3 of CY23.

The Board looks forward to the opportunity to put our case to the court in Texas in January 2023, as well as progressing the law suits that Nanoco recently filed in Germany and China.

In summary, the Board remains confident that both the organic business and the litigation are sources of potentially significant shareholder value that will be transformative for the Group's prospects.

- Ends -

For further information, please contact:

Nanoco Group PLC :

Brian Tenner, CEO                                                                                                                             [phone]

Liam Gray, CFO & Company Secretary

Peel Hunt (Joint Corporate Broker):

Paul Gillam  [phone]

James Smith

Turner Pope Investments (Joint Corporate Broker):

Andrew Thacker  [phone]

James Pope

MHP :      [phone]

Reg Hoare

Pete Lambie

[e-mail]

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 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.

visit: www.nanocotechnologies.com.

 

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