Litigation outcome – Settlement agreed
Nanoco Group PLC has reached a no-fault settlement with LG Electronics Inc. resolving their litigation, with LG agreeing to pay Nanoco a gross amount of $5 million. Nanoco has incurred $0.6 million in litigation costs to date, with other settlement terms remaining confidential.
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Nanoco Group plc (LSE: NANO), is pleased to announce that a no-fault agreement has been reached by Nanoco and LG Electronics Inc. ("LG") (collectively, the "Parties") that resolves the litigation between the Parties.
The gross amount agreed to be paid by LG to Nanoco is $5m. Litigation costs incurred by Nanoco to date total $0.6m. Other terms and conditions are confidential.
MAR
Nanoco Group plc:
Dmitry Shashkov, CEO +44 (0)1928 761 404
Liam Gray, CFO & Company Secretary
Sodali & Co (Public Relations)
Elly Williamson +44 (0)79 3535 1934
Pete Lambie
Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker):
Ed Frisby / George Lawson (Corporate Finance) +44 (0) 20 7220 0500
Tim Redfern (Corporate Broking)
Jasper Berry (Sales)
CDX Advisors (Financial Adviser):
Steven Foland +1 415 425 2224
Steve Month
Patrick Foley
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.