Nanoco is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials. Its platform includes c 700 patents and specialist manufacturing lines. Focus applications are advanced electronics, displays, lighting and bio-imaging.
Nanoco has announced that it is undertaking a review of its strategic options and, in this context, is in preliminary discussions with certain parties regarding its potential sale as part of a formal sale process. It remains in active discussions with existing and potential new customers for its materials and services, focusing on the display and infra-red sensing markets. In addition to these commercial opportunities for continued funding of operations, the board is also reviewing other sources of funding. It notes that its current resources give reasonable headroom for the sale process and commercial opportunities to come to successful conclusions, with contingency plans in place if needed.
For the purposes of the Takeover Code, Edison is deemed to be connected with Nanoco as a provider of paid-for research. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently we have removed our estimates until the offer period ends.