Nanoco Group good progress and performance in line with the Board’s expectations

Nanoco Group plc

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, has stated that it will hold its Annual General Meeting 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 Nanoco Group Board remains confident of an outcome to the litigation that will be potentially transformative for the Group’s prospects and shareholder value.

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