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 its unaudited Group Preliminary Results for the year ended 31 July 2024.
A clear strategy to maximise value and deliver returns
· Having received advice following the commencement of the CDX process, the Board remains confident that the Group has commercial potential and inherent value
· The Board has:
o appointed CDX Advisors to explore an orderly sale of the Group’s trading business (including IP);
o significantly reduced the Group’s cost base;
o determined that surplus cash reserves will be returned to Shareholders; and
o appointed Dmitry Shashkov as CEO, bringing a track record of driving shareholder value through transformational business development
· Christopher Richards will retire as Non-Executive Chairman of Nanoco at the Annual General Meeting in January 2025 and will be succeeded by Jalal Bagherli, bringing his commercial expertise and track record to the leadership of the Board
