Nanoco Group - Mechanisms for shareholder returns confirmed
Following receipt of the £58.8m second tranche from the Samsung litigation on 24 January, Nanoco plans to return £30m to shareholders via a tender offer (c 38.5% of outstanding shares), alongside a £3m share buyback. After completing this £33m return and repaying c £5m outstanding debt, Nanoco expects to have c £23m cash to accelerate commercial production of nanomaterials at scale. With its validated technology, robust pipeline and strong financial position, we believe the group is positioned to drive long-term shareholder value creation. With Nanoco only valued marginally higher than the second tranche proceeds, we believe the market is undervaluing the group’s several commercial opportunities and intellectual property (IP) despite recent progress.Nanoco Group is engaged in the research, development and manufacture of cadmium and heavy-metal-free quantum dots and semiconductor nanoparticles. Co.'s core activities are the generation and development of CFQD® quantum dot products. In the display industry, the use of CFQD® quantum dot products enhances the colour gamut and energy efficiency of liquid crystal display televisions and other displays. The display market includes televisions, monitors, notebooks, tablets and smartphones.
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