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Nanoco Group PLC on Monday said it has ended the sale process that has run for over a year without producing a deal, with its chief executive departing next month as the company plans to cut costs and invest internally. Nanoco shares were down 13% to 7.50 pence in London early Monday. The stock is down 37% over the past year and 83% since the end of 2022. The Runcorn, England-based nanomaterials developer said the strategic review led by CDX Advisors LLC, which was appointed as financial adviser in October 2024, resulted in discussions with counterparties that progressed to an advanced stage. However, no conversation led to a firm offer. In the meantime, Nanoco made operational progress, signing a new joint development agreement with a second Asian chemicals customer and a three-year extension of its JDA with its first Asian chemicals customer. Nanoco also this month received a $4.5 million settlement from LG Electronics Inc in its patent infringement litigation. ‘The board has concluded that the CDX process is now unlikely to deliver a compelling transaction when the Group could instead deliver comparable or superior value by carefully investing its resources in existing high-potential business areas,’ Nanoco said. It now will take measures to reduce its gross cash operating costs to between £300,000 and £400,000 per month. As part of this, Chief Executive Officer Dmitry Shashkov will leave next month, having only joined Nanoco at the time that the CDX review began. Non-Executive Chair Jalal Bagherli will move to executive chair, while Chief Financial Officer Liam Gray will become interim CEO. Also to save costs, Nanoco will reduce its board size by two positions, with both Alison Fielding and Dieter May leaving in April. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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