…By Henry George for TDPel Media.
Led by Tariq Hamoodi, the group, which owns approximately 5% of the company, aims to remove CEO Brian Tenner, CFO Liam Gray, Chairman Christopher Richards, and three other board members.
The group claims that the Nanoco board made statements regarding a lawsuit with Samsung that implied the company expected a settlement significantly larger than its market capitalization at the time, characterizing it as “transformational.”
The company will review the request for a meeting and decide whether to proceed in due course.
The board welcomes scrutiny but considers Hamoodi’s interpretation to be selective, containing factual errors and speculative concerns that distort the true narrative of events.