Litigation Update - Further Revised Trial Date

RNS Number : 9174A

Nanoco Group PLC

28 September 2022

 

FOR IMMEDIATE RELEASE    28 September 2022

Nanoco Group PLC

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

Litigation Update - Further Revised Trial Date

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 the Court has notified Nanoco that it has been released from the trial setting for 3 October 2022 and, accordingly, the case between Nanoco and Samsung will be re-scheduled.

The trial between Nanoco and Samsung had originally been scheduled to start on 12 September 2022 and then on 3 October 2022. As is the usual practice, the court had scheduled a number of trials for the same dates given that, historically, the majority of cases settle before trial.

The court has now advised that another case that was scheduled to go to trial on 3 October 2022 will now go forward as scheduled. Nanoco's case will be considered when the Court next sets a scheduling order for subsequent trial dates.

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

"We previously explained that this sort of change in court date is one minor downside to the system in Texas that delivers trials and outcomes at a much faster rate than most other jurisdictions in the US.

"We will update the market further when we have a revised scheduled trial date and when we know that we are first in the schedule and hence can be confident that the trial will start on the day in question. Our team of witnesses and advisers will remain in a state of readiness for a trial at any time in the short term."

- 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 Communications :  [phone]

Reg Hoare

Pete Lambie

[e-mail]

The person responsible for arranging for the release of this announcement on behalf of Nanoco is Liam Gray, Chief Financial Officer.

MAR

The information contained within this announcement is considered by the Company to contain inside information for the purposes of UK MAR.  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 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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