For immediate
release
Nanoco Group
PLC
("Nanoco", the "Group", or the "Company")
Board and Management
Change
Nanoco Group plc (LSE: NANO), a
world leader in the development and manufacture of cadmium-free
quantum dots and other specific nanomaterials emanating from its
technology platform, today announces a future organisation change
intended to support the company's success.
Having led the company through a
period of significant change and delivered financial stability, CEO
Brian Tenner has advised the Board of his intention to leave the
Company to pursue new opportunities.
The Board and Brian have agreed that
he will stay in role until a successor has been appointed and
provide a period of handover and consultation. A search is underway
to identify a CEO with a proven track record of commercial success
in the sector.
The market has previously been
advised that Chris Richards would step down as chairman at the next
AGM of the company, after nine years on the Board. However,
Chris Richards has now committed to stay in role and provide
continuity until a new CEO is in place.
Christopher Richards, Chairman of Nanoco Group plc,
said:
"The Board is grateful to Brian for leading the business
through challenging times in which we achieved a number of
significant milestones, not least the settlement of litigation with
Samsung. The financial outcome allowed us to reward shareholders
for their support with a return of capital but also underpinned a
solid foundation for the future in the company's strong cash
position. A new CEO will be able to take the business forward on
that basis and focus on further developing the company's commercial
traction. On behalf of everyone at
Nanoco, the Board thanks Brian for his substantial contribution and
wishes him and his family all the best for the
future."
Brian Tenner, CEO of Nanoco Group plc, said:
"I
have been honoured to lead the talented team at Nanoco while
building the business for six years, first as COO and CFO and then
as CEO. The transition to a period in which a successor can focus
squarely on the commercial development of the company is a good
moment to start the process of identifying the successful candidate
and handing the baton on."
For further information, please
contact:
|
Nanoco Group plc:
Brian Tenner, CEO
Liam Gray, CFO & Company
Secretary
|
+44 (0)1928 761 404
|
|
Cavendish Capital Markets Limited
(Financial Adviser & Corporate Broker):
Ed Frisby / George Lawson (Corporate
Finance)
Tim Redfern / Charlie Combe
(Corporate Broking)
Jasper Berry (Sales)
|
+44 (0) 20 7220 0500
|
|
Sodali & Co (Public
Relations):
Elly Williamson
Peter Lambie
Nanoco@powerscourt-group.com
|
+44 (0)7970 246 725
|
About Nanoco Group plc
Nanoco (LSE: NANO) is a nanomaterial
production and licensing company, specialising in the production of
its patented cadmium free quantum dots (CFQD®) and other patented
nanomaterials for use in the electronics industries.
Founded in 2001 and headquartered in
Runcorn, UK, Nanoco continues to build out a world-class,
patent-protected IP portfolio alongside the scaling of the
production for commercial orders.
Nanomaterials are materials with
dimensions typically in the range 1 - 100 nm. Nanomaterials have a
range of useful properties, including optical and electronic.
Quantum dots are a subclass of nanomaterial that have
size-dependent optical and electronic properties. Within the sphere
of quantum dots, the Group exploits different characteristics of
the quantum dots to target different performance criteria that are
attractive to specific markets or end-user applications such as the
Sensor, Electronics and Display markets. Nanoco's CFQD® quantum
dots are free of cadmium and other toxic heavy metals, and can be
tuned to emit light at different wavelengths across the visible and
infrared spectrum, rendering them useful for a wide range of
display applications. Nanoco's HEATWAVE™ quantum dots can be tuned
to absorb light at different wavelengths across the near-infrared
spectrum, rendering them useful for applications including cameras
and image sensors.
Nanoco is listed on the Main Market
of the London Stock Exchange, holds the LSE's Green Economy Mark,
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com