Nanoco Group PLC Board and Management Change

RNS Number : 7347X

Nanoco Group PLC

25 July 2024

 

  For immediate release

Nanoco Group PLC

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

 

Board and Management Change

 

Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, today announces a future organisation change intended to support the company's success.

Having led the company through a period of significant change and delivered financial stability, CEO Brian Tenner has advised the Board of his intention to leave the Company to pursue new opportunities.

The Board and Brian have agreed that he will stay in role until a successor has been appointed and provide a period of handover and consultation. A search is underway to identify a CEO with a proven track record of commercial success in the sector.

The market has previously been advised that Chris Richards would step down as chairman at the next AGM of the company, after nine years on the Board.  However, Chris Richards has now committed to stay in role and provide continuity until a new CEO is in place.

Christopher Richards, Chairman of Nanoco Group plc, said:

"The Board is grateful to Brian for leading the business through challenging times in which we achieved a number of significant milestones, not least the settlement of litigation with Samsung. The financial outcome allowed us to reward shareholders for their support with a return of capital but also underpinned a solid foundation for the future in the company's strong cash position. A new CEO will be able to take the business forward on that basis and focus on further developing the company's commercial traction. On behalf of everyone at Nanoco, the Board thanks Brian for his substantial contribution and wishes him and his family all the best for the future."

Brian Tenner, CEO of Nanoco Group plc, said:

"I have been honoured to lead the talented team at Nanoco while building the business for six years, first as COO and CFO and then as CEO. The transition to a period in which a successor can focus squarely on the commercial development of the company is a good moment to start the process of identifying the successful candidate and handing the baton on."

 

For further information, please contact:

 

Nanoco Group plc:       Brian Tenner, CEO Liam Gray, CFO & Company Secretary	[phone]
Cavendish Capital Markets Limited (Financial Adviser & Corporate Broker): Ed Frisby / George Lawson (Corporate Finance) Tim Redfern / Charlie Combe (Corporate Broking) Jasper Berry (Sales)	[phone]
Sodali & Co (Public Relations):                                                Elly Williamson Peter Lambie [e-mail]	[phone]

 

About Nanoco Group plc

 

Nanoco (LSE: NANO) is a nanomaterial production and licensing company, specialising in the production of its patented cadmium free quantum dots (CFQD®) and other patented nanomaterials for use in the electronics industries.

Founded in 2001 and headquartered in Runcorn, UK, Nanoco continues to build out a world-class, patent-protected IP portfolio alongside the scaling of the production for commercial orders.

Nanomaterials are materials with dimensions typically in the range 1 - 100 nm. Nanomaterials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nanomaterial that have size-dependent optical and electronic properties. 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 Sensor, Electronics and Display markets. 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 display applications. 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 cameras and image sensors.

Nanoco is listed on the Main Market of the London Stock Exchange, holds the LSE's Green Economy Mark, and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com

 

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