Nanoco Group PLC AGM Statement (3534H)
December 03 2020 - 1:00AM
UK Regulatory
TIDMNANO
RNS Number : 3534H
Nanoco Group PLC
03 December 2020
3 December 2020
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 in a virtual
format due to the restrictions caused by the Coronavirus pandemic.
Details of the arrangements were included in the Notice of Meeting
issued on 17 November 2020.
Dr Christopher Richards, Nanoco's Chairman, will make the
following statement in respect of the first four months of the
financial year ending 31 July 2021 ('the Period').
Operational and trading update
We continue to deliver R&D services under a number of
development programmes with different customers in the sensing and
display markets, the most significant of which is the work with ST
Microelectronics N.V. ('ST Micro'). Good progress has been made on
this project during the Period and we are now negotiating its
potential next phase.
On 25 November 2020, we also announced that we had successfully
secured a project grant from Innovate UK, the UK's innovation
agency, to develop a heavy metal-free quantum dot testing kit for
the accurate and rapid visual detection of SARSCoV-2 ("Covid-19").
This funding creates a potential third opportunity for future
revenue, on top of the Group's activities in Sensing and Display,
whilst maintaining Nanoco's cash runway.
Financial performance in the Period has been in line with the
Board's expectations. The Board remains focussed on new commercial
revenues to sustain the Group's organic activities in H2 FY21 and
beyond, with contingency plans in place if needed.
Samsung Litigation Update
The litigation against Samsung is proceeding in line with
expectations. A trial date has been set for October 2021, but this
may experience delay due to the Covid-19 pandemic. As expected,
Samsung have submitted requests for Inter Partes Reviews ('IPR's)
of the patents relevant to the case with the US Patent Office and
these are being managed as a normal part of the litigation process.
The Board's confidence remains high that we will obtain a positive
outcome.
- Ends -
For further information, please contact:
Nanoco Tel: +44 (0) 161 603 7900
Brian Tenner, Chief Executive Officer
Liam Gray, UK FD and Company Secretary
Caroline Watson, Investor Relations Manager
cwatson@nanocotechnologies.com
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Giles Robinson / Pete Lambie
nanoco@mhpc.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. 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 and Electronics markets. One of the interesting properties
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 has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company and Wah Hong
Industrial Corporation of Taiwan. 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.
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.nanocogroup.com.
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END
AGMEAEAAEASEFAA
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