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Nanoco outlines plans for $150m Samsung litigation win

Runcorn-based Nanoco Group has outlined its plans for the $150m it will receive following litigation with South Korean tech giant Samsung.

The sum was agreed in “no fault” settlement after the Cheshire firm took legal action over the claim Samsung used its technology without permission in its QLED televisions.

Nanoco has said it will initally undertake a capital reduction in order to allow returns to its shareholders. Nanoco said it aims to start a return of between £33m and £40 pounds, or approximately 10 to 12p per share to shareholders.

Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials for use in displays, lighting, vertical farming, solar energy and bio-imaging.

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