TIDMNANO
RNS Number : 4301I
Nanoco Group PLC
07 August 2023
For Immediate Release 7 August 2023
NANOCO GROUP PLC
(" Nanoco ", the "Company" or the "Group" )
Glass Lewis recommendation to support Nanoco's Board
General Meeting - 10 August proxy voting deadline
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, notes the
voting recommendations recently published by Glass Lewis & Co.
("Glass Lewis") in relation to the Group's forthcoming General
Meeting to be held on 14 August 2023.
The Glass Lewis report recommends that investors vote AGAINST
all resolutions that have been proposed, as follows.
-- vote AGAINST all the resolutions to remove the current Board of Nanoco
-- vote AGAINST the proposed appointment of all the Requisitionists' director nominees
This is in addition to the report issued by Institutional
Shareholder Services ("ISS"), as announced on 2 August 2023, which
recommended that investors:
-- vote AGAINST all the resolutions to remove the current Board of Nanoco
-- vote AGAINST the proposed appointment of the following director nominees:
o Tariq Hamoodi
o Greg Moeller
o Dooyong Lee
o Benjamin Barnett
o Ikchoon Tim Kang
General Meeting on 14 August 2023
The Board is firmly of the view that the changes proposed by Mr
Hamoodi are not in the best interests of the Company or its
shareholders for the following reasons:
-- Nanoco is at an exciting inflection point, with the Samsung
litigation proceeds fully underpinning our transition from an
R&D first mover to a leading producer of next-generation QD
materials in the short term
-- The Requisitionists continue to fail to present a clear, coherent and credible strategy
-- Delivering shareholder value needs an experienced and
qualified board - none of the Requisitionists' nominee directors
have ever served on the Board of a UK public company
-- The Board changes proposed by the Requisitionists in effect
would represent a total change of control of Nanoco with no
takeover premium being paid - a backdoor takeover attempt
-- The Requisitionists' proposals will destroy the significant
potential value in Nanoco's organic business, risk turning the
Company into a highly speculative litigation shell, and will result
in an exodus of key talent from the business, including Dr Nigel
Pickett, the Group's co-founder and Chief Technology Officer
-- Mr Hamoodi's unfounded allegations create a false narrative
that misleads Nanoco shareholders
Shareholders have a lot to lose - the Requisitionists'
resolutions are not in the best interests of shareholders
Proxy voting deadline of 10 August 2023 (11:00 BST)
The Board strongly encourages all Shareholders, regardless of
whether or not they intend to attend the General Meeting in person,
to submit their votes via proxy as early as possible.
All proxy appointments should be received by no later than 11:00
a.m. on 10 August 2023. CREST members are advised to vote
electronically through the CREST electronic proxy appointment
service.
Shareholders are reminded that if their shares are registered in
the name of a nominee, they must liaise with their nominee to
ensure their proxies are validly submitted by the above deadline.
If in any doubt about your shareholding, please contact our
registrar, Neville Registrars Limited, Neville House, Steelpark
Road, Halesowen B62 8HD on telephone number 0121 585 1131, or by
e-mail on info@nevilleregistrars.co.uk.
The form of proxy can be found on Nanoco's Investor Relations
website here:
https://www.nanocotechnologies.com/investors/documents/
Instructions on how to fill out and submit the form of proxy can
be found on page seven of the Circular and Notice of General
Meeting here:
https://wp-nanoco-2020.s3.eu-west-2.amazonaws.com/media/2023/07/Nanoco-Circular-and-Notice-of-General-Meeting.pdf
For Shareholders who hold their shares via nominee accounts,
instructions on how to instruct your nominee to vote can be found
on page eight of the Circular and Notice of General Meeting.
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO +44 (0) 1928 761 422
Liam Gray, CFO & Company Secretary
Peel Hunt (Joint Corporate Broker):
Paul Gillam +44 (0) 20 7418 8900
Richard Chambers
James Smith
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
MHP :
Reg Hoare / Matthew Taylor +44 (0) 20 3128 8793
nanoco@mhpgroup.com
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(TM) 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(R)
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.
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END
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