Nanoco voting recommendations by Glass Lewis to support Board

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, has noted the voting recommendations recently published by Glass Lewis & Co in relation to the Group’s forthcoming General Meeting to be held on 14 August 2023.

The Glass Lewis report recommends that investors vote AGAINST all resolutions that have been proposed, as follows.

·    vote AGAINST all the resolutions to remove the current Board of Nanoco

·    vote AGAINST the proposed appointment of all the Requisitionists’ director nominees

This is in addition to the report issued by Institutional Shareholder Services (“ISS”), as announced on 2 August 2023, which recommended that investors:

·    vote AGAINST all the resolutions to remove the current Board of Nanoco

·    vote AGAINST the proposed appointment of the following director nominees:

o  Tariq Hamoodi

o  Greg Moeller

o  Dooyong Lee

o  Benjamin Barnett

o  Ikchoon Tim Kang

General Meeting on 14 August 2023

The Board is firmly of the view that the changes proposed by Mr Hamoodi are not in the best interests of the Company or its shareholders for the following reasons:

•     Nanoco is at an exciting inflection point, with the Samsung litigation proceeds fully underpinning our transition from an R&D first mover to a leading producer of next-generation QD materials in the short term

•     The Requisitionists continue to fail to present a clear, coherent and credible strategy

•     Delivering shareholder value needs an experienced and qualified board – none of the Requisitionists’ nominee directors have ever served on the Board of a UK public company

•     The Board changes proposed by the Requisitionists in effect would represent a total change of control of Nanoco with no takeover premium being paid – a backdoor takeover attempt

•     The Requisitionists’ proposals will destroy the significant potential value in Nanoco’s organic business, risk turning the Company into a highly speculative litigation shell, and will result in an exodus of key talent from the business, including Dr Nigel Pickett, the Group’s co-founder and Chief Technology Officer

•     Mr Hamoodi’s unfounded allegations create a false narrative that misleads Nanoco shareholders

Shareholders have a lot to lose – the Requisitionists’ resolutions are not in the best interests of shareholders

Proxy voting deadline of 10 August 2023 (11:00 BST)

The Board strongly encourages all Shareholders, regardless of whether or not they intend to attend the General Meeting in person, to submit their votes via proxy as early as possible.

All proxy appointments should be received by no later than 11:00 a.m. on 10 August 2023. CREST members are advised to vote electronically through the CREST electronic proxy appointment service.

Shareholders are reminded that if their shares are registered in the name of a nominee, they must liaise with their nominee to ensure their proxies are validly submitted by the above deadline. If in any doubt about your shareholding, please contact our registrar, Neville Registrars Limited, Neville House, Steelpark Road, Halesowen B62 8HD on telephone number 0121 585 1131, or by e-mail on

The form of proxy can be found on Nanoco’s Investor Relations website here:

Instructions on how to fill out and submit the form of proxy can be found on page seven of the Circular and Notice of General Meeting here:

For Shareholders who hold their shares via nominee accounts, instructions on how to instruct your nominee to vote can be found on page eight of the Circular and Notice of General Meeting.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
Nanoco Group PLC

More articles like this

Nanoco Group PLC

An introduction to Quantum Dots in display technology

Quantum dots, a technology that has been making waves in the display industry, are tiny semiconductor particles that emit light when stimulated by an external source. These nanocrystals, typically measuring just a few nanometers in diameter, have unique

Nanoco Group PLC

Quantum Dots reshaping display technology

The global quantum dot (QD) material market is projected to reach US$550 million by 2034. However, this remarkable figure merely scratches the surface of the potential magnitude the market of their enabled products is set to attain, especially

Nanoco Group PLC

What is a Quantum Dot?

Quantum dots are fascinating nanoscale structures that have revolutionized several fields, from electronics and optics to medicine and energy. These tiny particles, typically ranging from 2 to 10 nanometers in size, possess unique properties that make them incredibly

Nanoco Group PLC

The global market for quantum dots 2024-2034

The multi-billion dollar quantum dot-enabled TV market will experience further growth this year, with market innovations leading to enhanced products utilizing new configurations in displays, Micro-LEDs, security tagging, medical diagnostics, quantum computing and Agtech. QDs are a proven

Nanoco Group PLC

Unlocking the potential of nanoscale materials

Quantum dots, the nanoscale semiconductor particles with unique optical and electronic properties, have been gaining significant attention in recent years due to their potential applications in various fields, including medicine, energy, and electronics. These tiny particles, which are

Nanoco Group PLC

Quantum dots, an ever-evolving application landscape

Quantum dots (QDs) are semiconductor nanocrystals ranging from 2-10 nanometers (10-50 atoms) with size-tunable features. They exhibit quantum confinement effects due to their nanoscale dimensions, leading to remarkable optical and electrical characteristics. The quantum dot features can be adjusted by

Nanoco Group PLC

Tech firm Nanoco preparing for commercial production

Runcorn-based tech group, Nanoco, is gearing up for commercial production by the end of the year, and is considering further legal action against potential infringement of its intellectual property (IP). In a trading update for the year ending

Nanoco Group PLC

Nanoco FY23 revenue doubles to £5.6 million

Nanoco Group issued its year end trading update ahead of the announcement of its final results for the year to July 31, 2023 in October. Among the financial highlights for the year, the company has more than doubled

Nanoco Group PLC

Nanoco in its strongest ever financial position

Manchester-based Nanoco has announced it’s now closer to commercial production than at any time in its history. In a trading update on Tuesday, the London Stock Exchange-listed Nanoco Group said it was in the strongest financial position since

Nanoco Group PLC

Quantum Dots: The future of nanotechnology

Quantum dots, tiny semiconductor particles that are only a few nanometers in size, have the potential to revolutionize a wide range of industries, from solar energy to medical imaging. These nanoparticles exhibit unique properties due to their small

Nanoco Group PLC

Nanoco Group ISS recommendation to support Nanoco’s Board

Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, has noted the voting recommendations recently published by Institutional Shareholder Services in relation to

Nanoco Group PLC

Quantum dots in revolutionizing display technology

The role of quantum dots in next-generation displays is an exciting area of research and development that promises to revolutionize the way we experience visual content. Quantum dots are nanoscale semiconductor particles that have unique optical and electronic

Nanoco Group PLC

How quantum dots can revolutionise solar energy

There’s a new way to harness the power of the sun and it may just revolutionize how we approach solar energy. The development is called quantum dots and it consists of tiny semiconductor particles only a few nanometers in

Nanoco Group PLC

Nanoco: Returning cash and investing in the business

Nanoco has announced its intention to return £33–40m of the funds won through the settlement with Samsung to shareholders, retaining £20m to execute its growth and intellectual property (IP) licensing strategy. Management expects to start this programme after

No more posts to show