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LONDON - Nanoco Group PLC (LSE:NANO), a developer and manufacturer of cadmium-free quantum dots and nanomaterials, has announced the High Court of Justice in England and Wales has sanctioned its capital reduction plan. The confirmation follows the initial approval by shareholders at the Annual General Meeting on January 21, 2025.
The capital reduction involves the cancellation of the amount standing to the credit of the company’s capital redemption reserve. This move is expected to create distributable reserves, a strategy outlined in the Notice of Annual General Meeting from December 6, 2024.
The court’s approval was granted on April 8, 2025, and the necessary documents have since been submitted to the Registrar of Companies. The process is currently underway, and the capital reduction is set to be finalized within the next ten days upon the registration of these documents.
This financial restructuring aims to enhance the company’s ability to manage its capital more effectively. The approval by a significant majority of shareholders and subsequent confirmation by the High Court signify a crucial step in Nanoco’s strategic financial planning.
This announcement is based on a press release statement from Nanoco Group PLC.
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