Last checked at 14 Aug 2023 15:58
14 August 2023 NANOCO GROUP PLC
("Nanoco", the "Group", or the "Company")
General Meeting - Voting Results
All resolutions proposed by the Requisitionists emphatically rejected
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, is pleased to announce that all resolutions proposed by the Requisitionists at its GM held today were rejected.
| Votes For | Votes Against | Votes Withheld | |||||
Votes | % of total votes cast | % of total voting rights excluding treasury shares | Votes | % of total votes cast | % of total voting rights excluding treasury shares | Votes | % of total voting rights excluding treasury shares | |
Ordinary Resolution 1 | 21,042,276 | 11.9% | 6.5% | 154,618,459 | 87.8% | 47.7% | 468,820 | 0.3% |
Ordinary Resolution 2 | 31,896,310 | 18.1% | 9.8% | 143,773,518 | 81.6% | 44.3% | 459,727 | 0.3% |
Ordinary Resolution 3 | 29,532,600 | 16.7% | 9.1% | 146,130,228 | 83.0% | 45.0% | 466,727 | 0.3% |
Ordinary Resolution 4 | 28,528,164 | 16.2% | 8.8% | 147,254,957 | 83.6% | 45.4% | 346,434 | 0.2% |
Ordinary Resolution 5 | 31,955,122 | 18.1% | 9.8% | 142,250,664 | 80.8% | 43.8% | 1,923,769 | 1.1% |
Ordinary Resolution 6 | 20,974,587 | 11.9% | 6.5% | 152,853,810 | 86.8% | 47.1% | 2,301,158 | 1.3% |
Ordinary Resolution 7 | 30,265,193 | 17.2% | 9.3% | 145,556,564 | 82.6% | 44.9% | 307,798 | 0.2% |
Ordinary Resolution 8 | 29,519,474 | 16.8% | 9.1% | 146,015,018 | 82.9% | 45.0% | 595,063 | 0.3% |
Ordinary Resolution 9 | 18,217,238 | 10.4% | 5.6% | 156,967,305 | 89.1% | 48.4% | 945,012 | 0.5% |
Ordinary Resolution 10 | 30,578,152 | 17.4% | 9.4% | 145,012,921 | 82.3% | 44.7% | 538,482 | 0.3% |
Ordinary Resolution 11 | 18,787,391 | 10.7% | 5.8% | 156,900,972 | 89.1% | 48.4% | 442,192 | 0.2% |
Ordinary Resolution 12 | 31,857,429 | 18.1% | 9.8% | 143,442,677 | 81.4% | 44.2% | 829,449 | 0.5% |
Christopher Richards, Non-Executive Chairman of Nanoco, said
"I would like to thank shareholders for their overwhelming support for the Board in rejecting all of the Requisitionists' resolutions by such strong margins.
"As a Board, we are always open to scrutiny and critique. We recognise that the Requisitionists' actions and unfounded allegations have caused damage to perceptions of Nanoco and its value. The actions of the Requisitionists have been value destructive for shareholders in that they have required a significant amount of management time, time which should have been spent running the business and generating value for shareholders.
"The Board has always striven to act in the best interests of all shareholders and will continue to do so. Going forward we will respond to shareholder feedback by further improving our communications, adding new electronics sector experience to the Board, while delivering increases in shareholder value.
"The business is in a better position than it's ever been. The organic business is at an exciting inflection point, with funding underpinned by the litigation proceeds. We are actively pursuing further licencing activity, with our position strengthened by the validation of our IP in the Samsung litigation process. We have also committed to returning up to £40m of the net litigation proceeds to Shareholders in February 2024.
"We thank shareholders for their confidence in the Group's Board and strategy and look forward to updating you later in the year."
Full details of each resolution were set out in the Notice of General Meeting which is available on the Company's website at www.nanocotechnologies.com. In accordance with Listing Rule 9.6.2, copies of all the resolutions passed as special business at the Annual General Meeting have been submitted to the National Storage Mechanism and will shortly be available for inspection at National Storage Mechanism | FCA
i) The issued share capital of Nanoco Group PLC on 31 July 2023 was 324,430,950 ordinary shares. Excluding treasury shares, there were 324,418,728 ordinary shares with voting rights.
ii) A "vote withheld" is not a vote in law and is not counted in the calculation of the percentages of the votes cast "For" and "Against" a resolution.
- Ends -