t
| Date | 30 Nov 2021 |
| Time | 07:00:02 |
| Category | AGMs and other meetings |
| ID | 9371T |
30 November 2021
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 28 October 2021.
The Chairman of the meeting will make the following statement in respect of the first three months of the financial year ending 31 July 2022 ('the Period').
Operational and trading update
Financial performance in the Period has been 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, which include the additional work package for our European customer announced on 5 November. Good progress has been made on these projects during the Period and discussions on potential next steps are underway.
Samsung Litigation Update
As outlined in the Group's Preliminary results on 3 November, the litigation against Samsung in the Eastern District of Texas is currently on hold while the US Patent Office conducts Inter Partes Reviews ('IPR's) to establish the validity of the patents relevant to the case. The Board is very pleased with the progress of the court process and the IPR process to date. We look forward to the conclusion of the IPR process which is due in May 2022.
The Board remains confident of an outcome to the litigation that will be potentially transformative for the Group's prospects and shareholder value.
- Ends -
For further information, please contact:
Nanoco Tel: +44 (0) 161 603 7900
Brian Tenner, Chief Executive Officer
Liam Gray, Chief Financial Officer and Company Secretary
Caroline Watson, Investor Relations Manager
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Pete Lambie
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 Manchester, 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.