Nanoco Group PLC, a leader in cadmium-free quantum dots and nanomaterials, has announced the acquisition of 125,000,000 Ordinary Shares from Cavendish at 24 pence per share, totaling £30.0 million. Following this, 111,250,000 Ordinary Shares were cancelled, and the remaining 13,750,000 were transferred to the Nanoco Employee Benefit Trust. Additionally, the company repurchased 70,000 Ordinary Shares under the share buyback program on the London Stock Exchange. As a result, the company now has 212,840,950 Ordinary Shares in issue, with 199,078,728 voting rights.
Nanoco specializes in patented cadmium-free quantum dots and other nanomaterials for electronics industries. Founded in 2001, the company is headquartered in Runcorn, UK, and continues to expand its patent-protected IP portfolio while scaling production for commercial orders. Nanomaterials, with dimensions typically in the range of 1 - 100 nm, possess various properties, including optical and electronic. Quantum dots, a subclass of nanomaterials, have size-dependent optical and electronic properties. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals, making them suitable for a wide range of display applications. Additionally, Nanoco's HEATWAVE™ quantum dots can be tuned for applications including cameras and image sensors.
For further information, Nanoco Group plc can be contacted at +44 (0)1928 761 404. The company's financial adviser and joint corporate broker is Cavendish Capital Markets Limited, and Turner Pope Investments serves as the joint corporate broker. Powerscourt handles public relations for Nanoco Group plc and can be reached at +44 (0)7970 246 725.