Financial Position

RNS Number : 6797V

Nanosynth Group PLC

06 April 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

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	[phone]
Nominated Adviser and Broker
Stuart Gledhill
Kasia Brzozowska
IFC Advisory Ltd	[phone]
Graham Herring
Zach Cohen

 

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