NANO.GB Nanoco

TIDMNANO

RNS Number : 0649A

Nanoco Group PLC

19 May 2023

19 May 2023

NANOCO GROUP PLC

("Nanoco", the "Company" or the "Group")

Response to Shareholder Letter

Nanoco notes the contents of a second letter that has been circulated to shareholders by Tariq Hamoodi. This follows Mr Hamoodi's letter issued via RNS Reach in March, which has since been removed from the LSE's website.

Nanoco has sought to engage with Mr Hamoodi, including responding to his initial letter. A copy of Nanoco's letter to Mr Hamoodi is available here http://www.rns-pdf.londonstockexchange.com/rns/0649A_1-2023-5-19.pdf.

Nanoco's Board continues to emphatically reject Mr Hamoodi's speculative concerns about certain actions and activities involving Nanoco, and does not believe the proposed Board changes are in the best interests of shareholders.

As previously announced, the Directors of Nanoco have no intention of stepping down from the Board and are confident that the Board's actions and statements over the period of the Samsung litigation were in line with its corporate governance duties, obligations and standards.

Christopher Richards, Non-Executive Chairman of Nanoco, said

"We continue to emphatically reject Mr Hamoodi's speculative concerns. The Board welcomes scrutiny, but his misinterpretation of the past, and consciously selective and factually inaccurate disclosure, including the publication of heavily edited videos, presents a number of events out of context to create a false narrative to mislead our shareholders.

"The proposed Board changes are not in the best interests of the Company or its shareholders, and would give undue influence to a disgruntled minority shareholder. Nanoco is at an exciting inflection point, with the litigation proceeds fully underpinning our organic business which has significant growth opportunities.

"Mr Hamoodi's proposals would be damaging and disruptive to Nanoco's future prospects and, if successful, would result in an exodus of key talent from the business."

- Ends -

For further information, please contact:

Nanoco Group PLC :

Dr Christopher Richards, Non-Executive Chairman

Brian Tenner, CEO +44(0)1928761404

Liam Gray, CFO & Company Secretary

Peel Hunt (Joint Corporate Broker):

Paul Gillam +44 (0) 20 7418 8900

James Smith

Turner Pope Investments (Joint Corporate Broker):

Andrew Thacker +44 (0) 20 3657 0050

James Pope

MHP : +44 (0) 203 128 8570

Reg Hoare

Pete Lambie

Veronica Farah

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 size-tunable 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 Runcorn, 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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