Glass Lewis & Co. has recommended that investors vote against all resolutions proposed by the Requisitionists to remove the current Board of Nanoco and against the proposed appointment of the Requisitionists' director nominees. This recommendation is in addition to the report issued by Institutional Shareholder Services (ISS) which made the same recommendations. Nanoco's Board believes that the proposed changes by the Requisitionists are not in the best interests of the company or its shareholders. The Board argues that Nanoco is at an exciting inflection point and that the Requisitionists have failed to present a clear strategy. The Board also believes that the proposed changes would represent a total change of control of Nanoco without a takeover premium being paid. The Board encourages all shareholders to submit their votes via proxy as early as possible. The proxy voting deadline is August 10th.
Nanoco is a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials. The company is urging shareholders to vote against the resolutions proposed by the Requisitionists, arguing that the proposed changes are not in the best interests of the company or its shareholders. The Board believes that Nanoco is at an exciting inflection point and that the Requisitionists have failed to present a clear, coherent, and credible strategy. The Board also argues that the proposed changes would represent a total change of control of Nanoco without a takeover premium being paid. The Board warns that the Requisitionists' proposals would destroy the significant potential value in Nanoco's organic business and risk turning the company into a highly speculative litigation shell. The Board also claims that the proposals would result in an exodus of key talent from the business. The Board believes that Mr. Hamoodi's allegations create a false narrative that misleads Nanoco shareholders. The Board strongly encourages all shareholders to submit their votes via proxy as early as possible. The proxy voting deadline is August 10th.