Independent proxy adviser Glass Lewis has recommended that shareholders in Nanoco vote in favour of its plan to delist from the London Stock Exchange and return to private ownership.

The Manchester spinout company said recently that it is looking to delist from the LSE’s main market.

Nanoco Group plc, headquartered in Runcorn, develops and manufactures cadmium-free quantum dots and other nanomaterials. These are used in monitors, TVs and infra-red sensors.

In 2024 it began cutting jobs in an attempt to preserve cash as it explored a sale via financial advisor CDX Advisors. However this year it said it had terminated that process and would seek shareholder approval to delist.