Nanoco Group plc (LON:NANO) has confirmed that its Annual Report and Accounts for the financial year ended 31 July 2024 has been made available to shareholders. Shareholders opting out of electronic communication will receive a paper copy of the Document.
Pursuant to Listing Rule 6.4.1, copies of the Document have also been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM. The Document is also available on the Company’s website at www.nanocotechnologies.com and from the Company’s registered office at the Science Centre, The Heath Business and Technical Park, Runcorn, WA7 4QX.
The Group released Unaudited Group Preliminary Results for the year ended 31 July 2024 on 20 November 2024 due to work continuing on the year end audit which is now complete. As part of this process, the Company commissioned an external valuation exercise of the value of its investment in its subsidiaries, within which the Group’s intellectual property resides. The valuation report received by the Company supports the carrying value of £46 million as reported in the Company’s balance sheet contained in the Group’s Annual Report and Accounts for the year ended 31 July 2024.
Commenting on the external valuation exercise, Dmitry Shashkov, CEO of Nanoco, said:
“While we are pleased that the independent valuation exercise has confirmed the Board’s view that there is significant value in the Company’s intellectual property, it is important to be clear that this is an accounting exercise based on accounting methodologies. Realising this value for shareholders will depend on a number of factors, producing a range of outcomes and valuation scenarios. As previously advised, following the settlement with Samsung we are working hard to ensure that we protect this valuable IP against potential infringers while exploring other strategic options.”
