28th Oct 2024 12:43
Nanoco Group PLC - Runcorn, England-based manufacturer of cadmium-free quantum dots and other nanomaterials - Receives requisition from 5.6% shareholder Milkwood Fund demanding a general meeting. Milkwood want shareholders to vote on resolutions to add Rhys Summerton and Andre Tonkin to the Nanoco board as directors. Summerton is a director of Milkwood and Tonkin is an employee.
Nanoco says the notice provides no reason for the appointments. However, it says Summerton previously indicated to the board plans "to acquire a significant stake in the company, divest its assets, and convert the company into an investment company, utilising its cash and listing".
Nanoco says it is reviewing the validity of the requisition and asks shareholders to take no action. It notes it hired Dmitry Shashkov as its new chief executive office only last week.
Current stock price: 12.13 pence, down 5.0% in London on Monday
12-month change: down 22%
By Tom Waite, Alliance News editor
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