Nanoco Group plc (NANO.L)

Nanoco rejects shareholder group's concerns, bosses will not step down

In February, Samsung Electronics had agreed to pay $150 million to Nanoco to settle patent lawsuits over technology used in Samsung's LED televisions. The shareholder group, led by Tariq Hamoodi, who holds more than 4.23% in Nanoco, asked CEO Brian Tenner and CFO Liam Gray, along with other directors, to step down from their roles and board, in a letter dated March 10, which the shareholder group made public on Monday. "Nanoco's board emphatically rejects the shareholder group's speculative concerns about certain actions and activities involving Nanoco," the company said in a statement.