Nanoco Group PLC Result of Meeting (2701J)

TIDMNANO

RNS Number : 2701J

Nanoco Group PLC

14 August 2023

   14 August 2023                         NANOCO GROUP PLC 

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

General Meeting - Voting Results

All resolutions proposed by the Requisitionists emphatically rejected

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, is pleased to announce that all resolutions proposed by the Requisitionists at its GM held today were rejected.

 
                             Votes For                             Votes Against                    Votes Withheld 
                                          % of total                               % of total               % of total 
                                            voting                                   voting                   voting 
                                            rights                                   rights                   rights 
                                          excluding                                excluding                excluding 
                            % of total     treasury                  % of total     treasury                 treasury 
                 Votes      votes cast      shares        Votes      votes cast      shares       Votes       shares 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  1            21,042,276         11.9%         6.5%   154,618,459         87.8%        47.7%    468,820          0.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  2            31,896,310         18.1%         9.8%   143,773,518         81.6%        44.3%    459,727          0.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  3            29,532,600         16.7%         9.1%   146,130,228         83.0%        45.0%    466,727          0.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  4            28,528,164         16.2%         8.8%   147,254,957         83.6%        45.4%    346,434          0.2% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  5            31,955,122         18.1%         9.8%   142,250,664         80.8%        43.8%   1,923,769         1.1% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  6            20,974,587         11.9%         6.5%   152,853,810         86.8%        47.1%   2,301,158         1.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  7            30,265,193         17.2%         9.3%   145,556,564         82.6%        44.9%    307,798          0.2% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  8            29,519,474         16.8%         9.1%   146,015,018         82.9%        45.0%    595,063          0.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  9            18,217,238         10.4%         5.6%   156,967,305         89.1%        48.4%    945,012          0.5% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  10           30,578,152         17.4%         9.4%   145,012,921         82.3%        44.7%    538,482          0.3% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  11           18,787,391         10.7%         5.8%   156,900,972         89.1%        48.4%    442,192          0.2% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 Ordinary 
  Resolution 
  12           31,857,429         18.1%         9.8%   143,442,677         81.4%        44.2%    829,449          0.5% 
              -----------  ------------  -----------  ------------  ------------  -----------  ----------  ----------- 
 

Christopher Richards, Non-Executive Chairman of Nanoco, said

"I would like to thank shareholders for their overwhelming support for the Board in rejecting all of the Requisitionists' resolutions by such strong margins.

"As a Board, we are always open to scrutiny and critique. We recognise that the Requisitionists' actions and unfounded allegations have caused damage to perceptions of Nanoco and its value. The actions of the Requisitionists have been value destructive for shareholders in that they have required a significant amount of management time, time which should have been spent running the business and generating value for shareholders.

"The Board has always striven to act in the best interests of all shareholders and will continue to do so. Going forward we will respond to shareholder feedback by further improving our communications, adding new electronics sector experience to the Board, while delivering increases in shareholder value.

"The business is in a better position than it's ever been. The organic business is at an exciting inflection point, with funding underpinned by the litigation proceeds. We are actively pursuing further licencing activity, with our position strengthened by the validation of our IP in the Samsung litigation process. We have also committed to returning up to GBP40m of the net litigation proceeds to Shareholders in February 2024.

"We thank shareholders for their confidence in the Group's Board and strategy and look forward to updating you later in the year."

Full details of each resolution were set out in the Notice of General Meeting which is available on the Company's website at www.nanocotechnologies.com . In accordance with Listing Rule 9.6.2, copies of all the resolutions passed as special business at the Annual General Meeting have been submitted to the National Storage Mechanism and will shortly be available for inspection at National Storage Mechanism | FCA

i) The issued share capital of Nanoco Group PLC on 31 July 2023 was 324,430,950 ordinary shares. Excluding treasury shares, there were 324,418,728 ordinary shares with voting rights.

ii) A "vote withheld" is not a vote in law and is not counted in the calculation of the percentages of the votes cast "For" and "Against" a resolution.

- Ends -

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August 14, 2023 10:58 ET (14:58 GMT)