Nanoco Group Plc (NNOCF)

[clearsudden]

Nanoco Announces Changed Terms of Dow Chemical Licensing Pact
By Dow Jones Business News, September 27, 2013, 05:36:00 AM EDT
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LONDON--Nanoco Group PLC (NANO.LN), a maker of quantum dots and other nanomaterials, Friday announced some changes to the terms of its licensing agreement with the Dow Chemical Company ( DOW ), saying that Nanoco will no longer have to contribute capital to a plant Dow is preparing to build in Asia, while the royalty rate that Nanoco is due to receive from Dow's sale of quantum dots has been reduced.
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MAIN FACTS:

-Adjusted royalties continue to acknowledge the proprietary value of Nanoco's technology but financial details and other specifics are not being disclosed

-Agreement does not include specifics about the anticipated price and volume of quantum dots as these are a function of commercial negotiations with customers

-Nanoco has also completed the planned expansion of its cadmium-free quantum dot production facility in Runcorn with the installation and commissioning of two further Semi-Tech lines at a planned cost of GBP1.25 million.

-These lines will be used to fulfil orders for large quantities of sample materials to meet increasing demand for pre- production quantum dots from customers and potential customers

-Shares at 0918 GMT down 7 pence or 4% at 172 pence valuing the company at GBP376 million.

-Write to Ed Ballard at [e-mail]

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(END) Dow Jones Newswires
09-27-130536ET
Copyright (c) 2013 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: DOW


Read more: http://www.nasdaq.com/article/nanoco-announces-changed-terms-of-dow-chemical-licensing-pact-20130927-00061#ixzz2g69t4cAH