Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, has announced that it will today post a Circular setting out the details of a proposed return of value to shareholders of up to £33m of the Samsung litigation proceeds.
Following the receipt of the Final Litigation Proceeds, the Board and its advisers consulted with shareholders representing approximately 37.5 per cent. of the Company’s issued share capital on the different options for a proposed return of capital. The Board has determined that, in order to provide flexibility and choice to shareholders, the most appropriate means of returning value is to conduct a Tender Offer to return up to £30.0 million to shareholders. In addition to the Tender Offer, the Board also intends to return a further sum of up to £3.0 million by way of an on-market share buyback of Ordinary Shares to provide a continuing value-accretive return of capital to Shareholders.
