TIDMNANO
RNS Number : 1361D
Nanoco Group PLC
17 February 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE 17 February 2020
Nanoco Group PLC
("Nanoco, the "Group", or the "Company")
Nanoco commences patent infringement lawsuit against Samsung and
is seeking damages and other equitable relief.
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other
nanomaterials emanating from its technology platform, today
announces that it has filed a patent infringement lawsuit against
certain defendants in the United States District Court for the
Eastern District of Texas. The lawsuit claims infringement of
Nanoco's U.S. Patent No.'s: US7,588,828; US7,803,423; US7,867,557;
US8,524,365; US9,680,068. These patents relate to Nanoco's unique
synthesis and resin capabilities for quantum dots.
Named as defendants in the lawsuit are: (i) Samsung Electronics
Co. Ltd; (ii) Samsung Display Co. Ltd; (iii), Samsung Advanced
Institute of Technology; (iv) Samsung Electronics Co. Ltd, Visual
Display; and (v) Samsung Electronics America all of which are
involved in the production or sale of components and fully
assembled units for the display market, specifically televisions
utilising quantum dots to significantly enhance the viewing
experience of the user.
In the lawsuit, Nanoco alleges that each of the defendants has
wilfully infringed the Company's patents and seeks a permanent
injunction from further acts of infringement and significant
monetary damages.
Nanoco has retained Mintz, Levin, Cohn, Ferris, Glovsky and
Popeo, P.C., an international IP law firm based in Boston,
Massachusetts, USA, to represent it in patent enforcement and
litigation. Ward, Smith & Hill, PLLC, an IP law firm based in
Longview, Texas, USA, has been retained to act as local
counsel.
The Company is continuing to review its strategic options
including, but not limited to, a potential sale of the Company
through a formal sale process as announced on 5 November and will
make a further announcement in due course. The Company's
expectations for cash on hand remain in line with prior
communications.
Dr Christopher Richards, Nanoco's Chairman, commented:
"As a UK based business specialising in the design, scale up and
manufacture of novel nano-materials, it is critical that we take
steps to protect our platform technology and the IP that underpins
it. Historically the Group worked collaboratively with Samsung on
developing enhanced quantum dots based on our unique and patented
CFQD (R) Quantum Dot technology and associated IP. We were
therefore naturally disappointed when Samsung ended the
collaboration and launched its QD based televisions without
entering into either a licensing or supply agreement with
Nanoco.
Whilst the lawsuit has been filed, Nanoco continues to remain
open to finding a mutually acceptable commercial solution. Nanoco's
action is appropriate to take at this time in the best interest of
the Company and its shareholders, to defend one of our core assets.
The Board believes that the lawsuit and possible options for
monetisation of the Group's IP are a testament to the quality of
Nanoco's technology and underlying IP. "
- Ends -
Enquiries:
Nanoco Group PLC
Michael Edelman, Chief Executive
Officer
Brian Tenner, Chief Financial Officer
Caroline Watson, Investor Relations
Manager +44 (0)161 603 7900
Peel Hunt (Corporate Broker to +44 (0)20 7418 8900
Nanoco )
Edward Knight
Nick Prowting
+44 (0)20 3128 8100
MHP Communications nanoco@mhpc.com
Reg Hoare
Giles Robinson
Peter Lambie
In accordance with Rule 26.1 of the City Code on Takeovers and
Mergers, a copy of this announcement will, subject to certain
restrictions relating to persons resident in restricted
jurisdictions, be available at
www.nanocotechnologies.com/investor-relations/. The person
responsible for arranging for the release of this announcement on
behalf of Nanoco is Brian Tenner, Chief Financial Officer. For the
avoidance of doubt, the content of the website referred to above is
not incorporated into and does not form part of this
announcement.
This announcement is not an announcement of a firm intention to
make an offer under Rule 2.7 of the Code and there can be no
certainty that an offer will be made, nor as to the terms on which
any offer might be made. Any offer (if made) will be made solely by
certain offer documentation, which will contain the full terms and
conditions of any offer (if made), including details of how such
offer may be accepted. This announcement has been prepared in
accordance with English law and the Code, and information disclosed
may not be the same as that which would have been prepared in
accordance with laws outside of the United Kingdom. The release,
distribution or publication of this announcement in jurisdictions
outside of the United Kingdom may be restricted by laws of the
relevant jurisdictions, and therefore persons into whose possession
this announcement comes should inform themselves about, and
observe, any such restrictions. Any failure to comply with the
restrictions may constitute a violation of the securities law of
any such jurisdiction.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement), oral statements made regarding the
formal sale process, and other information published by Nanoco may
contain statements about Nanoco that are or may be deemed to be
forward looking statements. Such statements are prospective in
nature. All statements other than historical statements of facts
may be forward looking statements. Without limitation, statements
containing the words "targets", "plans", "believes", "expects",
"aims", "intends", "will", "may", "anticipates", "estimates",
"projects" or "considers" or other similar words may be forward
looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots. Within the sphere of
quantum dots, the Group exploits different characteristics of the
quantum dots to target different performance criteria that are
attractive to specific markets or end-user applications such as the
Display and Electronics markets. One of the interesting properties
of quantum dots is photoluminescence: the emission of longer
wavelength light upon excitation by light of a shorter wavelength.
The colour of light emitted depends on the particle size. Nanoco's
CFQD(R) quantum dots are free of cadmium and other toxic heavy
metals, and can be tuned to emit light at different wavelengths
across the visible and infrared spectrum, rendering them useful for
a wide range of applications including displays, lighting and
biological imaging.
Nanoco has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company, Merck KGaA of
Germany and Wah Hong Industrial Corporation of Taiwan.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocogroup.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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February 17, 2020 02:00 ET (07:00 GMT)
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