Result of Meeting

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
	Votes	% of total votes cast	% of total voting rights excluding treasury shares	Votes	% of total votes cast	% of total voting rights excluding treasury shares	Votes	% of total voting rights excluding treasury 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 £40m 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 -

 

END