() rose by a reasonable amount at the start of trading after the nanomaterials company provided a positive update on the trade and said it had raised Â£ 3.2million as part of a financing by loan note from the main shareholders.
Shares of the cadmium-free quantum dots maker, which have potential uses in various industries, rose 15% to 21.9 pence at the start of the session, with the company saying it was making “excellent progress” in the market. ‘expansion of its product and customer portfolio. with âactiveâ interviews with five customers on eight different products.
Management said “confidence remains high” in the strength of the Manchester-based company’s lawsuit against Samsung over the alleged willful infringement of Nanoco’s intellectual property, in the hope that a “favorable and transformative outcome for them. shareholders “can be obtained.
Proceeds from the loan note subscription – where the notes are unsecured and are repayable within three years of completion – extends Nanoco’s organic cash flow track “beyond the point of visibility on production orders commercial and the key dates of the Samsung litigation process, âhe said.
SEED Innovations Limited (LON: SEED), formerly known as FastForward Innovations, also announced an increase in net assets per share to 11.72 pence, from 8.82 pence in the year up end of March.
Looking ahead, Chairman Ian Burns said the investment firm âis increasingly streamlining our investment focus in areas where we have significant expertise, namely primarily health, wellness and health. medical cannabis.
âWe have a solid background in the medical cannabis field and are convinced that with recent FCA guidelines there are a number of opportunities both early and late that have the potential to create value for our customers. shareholders. “