9 May 2013 12:30
For immediate release | 9 May 2013 |
NANOCO GROUP PLC
("Nanoco" or the "Company")
Relocation of CEO to the US and Director Dealings
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that its CEO, Michael Edelman, is relocating to the US, where he will lead the Company from Boston, MA.
This relocation will allow Nanoco to be close to its key US strategic partners and potential customers. It will also give the Company the opportunity to develop its US investor base.
To fund his relocation to the US, Michael Edelman informed the Company on 9 May 2013 that, on 9 May 2013, he sold 1,300,000 ordinary shares in the Company ("Ordinary Shares") at 163 pence per Ordinary Share. His resultant shareholding, not including share options, is 6,988,640 Ordinary Shares, equivalent to 3.3% of the Company's share capital.
Michael Edelman, Nanoco's Chief Executive Officer, said: "Nanoco has reached a stage in its development where I am spending an increasing amount of time in the US, particularly since signing our key manufacturing and marketing relationship there. We have strategic relationships, customers, potential customers and investors in the US. By relocating, I will have the opportunity to serve and develop these relationships more effectively.
"Nanoco's head office will remain in Manchester, UK, and I will continue to divide my time between Manchester, London, Asia and the US."
For further information:
Nanoco | + 44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Colin White, Chief Financial Officer | |
Canaccord Genuity - Nomad and Joint Broker | +44 (0) 20 7523 8000 |
Simon Bridges | |
Cameron Duncan | |
Liberum Capital - Joint Broker | + 44 (0) 20 3100 2000 |
Simon Atkinson | |
Richard Bootle | |
Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots for use in multiple applications including LCD displays, lighting and solar cells. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and business development offices in the USA, Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO. For further information please visit: www.nanocogroup.com.
Nanoco (NANO)