Result of General Meeting

Nanoco Group PLC

13 December 2024

 

13 December 2024

NANOCO GROUP PLC

("Nanoco" or the "Company")

Result of General Meeting

Nanoco Group plc (LSE: NANO) confirms that, at the General Meeting held earlier today, neither of the resolutions proposed by Milkwood were passed.

The Board is grateful for the support of shareholders with respect to the Requisition and their endorsement of the strategy set out in the Circular (and preceding announcements).

The Board has engaged in constructive dialogue with Milkwood during the period leading up to and during this Requisition and is making efforts to ensure a constructive relationship is maintained with the Company's largest shareholder in the future. The Board is very mindful of its responsibilities to all shareholders, as well as the Company's wider stakeholders.

Christopher Richards, Non-Executive Chairman of Nanoco, said:

"I would like to thank shareholders again for voting. We see this support for our recommendations also as a sign of confidence in the Group's Board and strategy.

It is regrettable that this Requisition has led the Company to incur costs and not inconsiderable distraction. Our focus is now on supporting Dmitry, as our new CEO, in executing on our plan and, as and when appropriate, returning value to all of our shareholders, Milkwood included. 

We look forward to providing more updates as we progress."

Details of the number of votes cast for, against and withheld in respect of the resolutions, which were voted on by way of poll, are set out below and will also be published on the Company's website: www.nanoco.com.

Resolution	Votes For (including Discretionary)	%	Votes Against	%	Votes Total	% Issued Share Capital	Votes Withheld
THAT, Rhys Drennan Summerton be and is hereby appointed as a director of the Company with immediate effect.	2,846,081	5.0%	53,528,319	95.0%	56,374,400	29.0%	208,061
THAT, André Charles Tonkin be and is hereby appointed as a director of the Company with immediate effect.	1,320,070	2.3%	55,054,330	97.7%	56,374,400	29.0%	208,061

The full text of the resolutions can be found in the notice of General Meeting contained in the Company's circular to Shareholders dated 15 November 2024 (the "Circular"). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.nanoco.com.

Defined terms used in this announcement have the meanings given in the Circular unless the context otherwise requires.

Nanoco Group plc:

Christopher Richards, Chairman                                                                               [phone]

Dmitry Shashkov, CEO

Liam Gray, CFO & Company Secretary

Sodali & Co (Public Relations)                                                                             

Pete Lambie                                                                                                            [phone]

Elly Williamson                                                                                                 

[e-mail]

Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker):

Ed Frisby / Henrik Persson (Corporate Finance)                                                       [phone]

Tim Redfern / Charlie Combe (Corporate Broking)

Jasper Berry (Sales)

CDX Advisors (Financial Adviser):

Steven Foland                                                                                                               [phone]

Steve Month

Patrick Foley 

Delphine Currie and Kat McGriskin of Reed Smith LLP acted as legal advisers to the Company.

Notes for editors:

About Nanoco Group plc

Nanoco (LSE: NANO) is a nanomaterial production and licensing group, specialising in the production of its patented cadmium free quantum dots (CFQD®) and other patented nanomaterials for use in the electronics industries. Founded in 2001 and headquartered in Runcorn, UK, Nanoco continues to build out a world-class, patent-protected IP portfolio alongside its existing scaled up production facilities for commercial orders.

Nanomaterials are materials with dimensions typically in the range 1 - 100 nm. Nanomaterials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nanomaterial that have size-dependent optical and electronic properties. 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 Sensor, Electronics and Display markets. 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 display applications. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectra, rendering them useful for applications including cameras and image sensors.

Nanoco is listed on the Main Market of the London Stock Exchange, holds the LSE's Green Economy Mark, and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com

 

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