Nanoco Group appoint Mazars LLP as its new auditor

Nanoco Group plc

Following a formal tender process, Nanoco Group plc (LON:NANO) has announced the appointment of Mazars LLP (‘Mazars’) as its new auditor with immediate effect and to include the current financial year ending 31 July 2022.

PwC LLP have now resigned as auditor of the Company and its subsidiaries following the completion of the 31 July 2021 audit.

In accordance with section 519 of the Companies Act 2006, PwC has deposited a statement with the Company detailing the circumstances connected with them ceasing to hold office as auditor of the Company (the “Statement”). The Statement confirms that PwC resigned following the Company’s decision to appoint auditors at a lower fee than PwC were proposing to charge for the statutory audit for the year ending 31 July 2022.

The appointment of Mazars as auditor for the current financial year has been made by the Directors to fill the vacancy arising on the resignation of PwC. This appointment will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2022.

Nanoco Group (LON: 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 size-tunable 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.

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