***Replacement RNS released***6 Feb 2023 07:52
Samsung have decided to up their offer to the $250 million everyone seems to crave so much which will net Nanoco an additional $60m.
But they've decided to do so under the condition that the timeline mirrors that of a trial where they mimic the long drawn out appeal process over several years at great expense in time and financial uncertainty for Nanoco.
During such time Samsung have stipulated that Nanoco can't do any business with any other company for CFQD's in the same way as their IP would remain unvalidated until a successful trial and appeal process.
Samsung want Nanoco to be under the same financial duress they would be had they won at trial but had tears of appeals ahead but said "at least they will be saved from having to expend significant amounts of time and effort to defend a genuine 'appeal' process" - see they are not a bad bunch.
The market expects that the shares will still fall to the same levels as they did anyway as the way forward is not as clear as a final settlement as agreed 3rd Feb but BT is pleased Samsung capitulated as he was worried the FCA were going to raid his house looking for Samsung TV's he got as a back hander. HH and Feeks are expected to be delighted at this much more convoluted outcome all because the sum is $250m and closer to the figure they had in their heads from way back.