Business
Proposed return of up to £33.0 million
Proposed return of up to £33.0 million.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n\n11 March 2024 For immediate release\nTHE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART IN AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE ITS RELEASE, PUBLICATION OR DISTRIBUTION IS OR MAY BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN INVITATION TO PARTICIPATE IN THE TENDER OFFER (AS DEFINED HEREIN) IN OR FROM ANY JURISDICTION IN OR FROM WHICH, OR TO OR FROM ANY PERSON TO OR FROM WHOM, IT IS UNLAWFUL TO MAKE SUCH OFFER UNDER APPLICABLE SECURITIES LAWS OR OTHERWISE.\nThis release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version of EU MAR as it forms part of UK law by virtue of the European Union (Withdrawal) Act (as amended).\nNanoco Group PLC\n(\"Nanoco\", the \"Group\", or the \"Company\")\n \nProposed return of up to £33.0 million to shareholders\n \nRetained proceeds to invest in exciting growth prospects\nNanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, announces that it will today post a Circular setting out the details of a proposed return of value to shareholders of up to £33m of the Samsung litigation proceeds (the \"Return of Value\").\nFollowing the receipt of the Final Litigation Proceeds, the Board and its advisers consulted with shareholders representing approximately 37.5 per cent. of the Company's issued share capital on the different options for a proposed return of capital. The B...