REG - Ilika plc - Result of Placing & Director Subscription
22/05/2025 14:00
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RNS Number : 8359J Ilika plc 22 May 2025
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED
HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED
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AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT
NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN AN INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON FOR THE SALE OR SUBSCRIPTION FOR THE SECURITIES IN ILIKA PLC IN ANY
JURISDICTION IN WHICH SUCH INVITATION, SOLICITATION, RECOMMENDATION, OFFER,
SUBSCRIPTION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION. THIS ANNOUNCEMENT IS NOT AN OFFER OF OR SOLICITATION TO PURCHASE
OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
22 May 2025
Ilika plc
("Ilika", the "Group", or the "Company")
Result of Placing & Director Subscription
Ilika (AIM: IKA), the UK pioneer in solid-state battery technology, is pleased
to announce that further to the Company's announcement released on 21 May 2025
(the "Launch Announcement"), the accelerated bookbuild has closed. The
Company had intended to raise gross proceeds of approximately £3.0 million
through the Placing. However, the Company received further demand following
the Launch Announcement and, as a result, the Company has conditionally raised
gross proceeds of approximately £3.3 million before expenses by way of a
successful placing of, and subscription for, a total of 9,965,836 new Ordinary
Shares at the Issue Price of 33 pence per Ordinary Share.
Capitalised terms used in this announcement have the meanings given to them in
the Launch Announcement, unless the context provides otherwise.
In addition to the Placing and Subscription, the Company proposes to raise up
to a further £0.5 million through the issue of up to 1,515,151 new Ordinary
Shares pursuant to a Retail Offer to existing retail Shareholders at the Issue
Price. A further announcement will be made regarding the Retail Offer later
today.
The Company intends to use the net proceeds of the Capital Raising primarily
to advance the commercial status of both of the Company's product lines,
specifically supporting the commercial launch and ramp up of Stereax and the
continued development of the Goliath technology through to a position where it
is possible to secure commercial licensing agreements with commercial
partners.
Cavendish Capital Markets Limited ("Cavendish") acted as nominated adviser,
sole bookrunner and sole broker in connection with the Capital Raising.
The Placing and the issue of the Placing Shares are conditional upon:
· the Placing Agreement having become unconditional (save for
Admission) and not having been terminated in accordance with its terms prior
to Admission; and
· Admission taking place by no later than 8.00 a.m. on 2 June 2025
(or such later date as Cavendish may agree in writing with the Company, being
not later than 8.00 a.m. on 30 June 2025, the Long Stop Date).
Commenting on the Capital Raising, Graeme Purdy, CEO of Ilika, said:
"We are delighted with the continued support received for this placing from
existing and new high quality institutional investors. We'd like to thank
those investors and our hard-working advisors for enabling this successful
placing. We're pleased that our fundraising strategy of maximising return on
investment for our shareholders while minimising dilution continues to
resonate strongly with our investor base."
Director Participation
A total of 81,819 Director Subscription Shares are, conditional upon
Admission, being issued to certain Directors. The following Directors have
participated in the Directors Subscriptions:
Director Existing beneficial shareholding new Ordinary Shares subscribed for Shareholding on completion of the Capital Raising Shareholding as a percentage of the issued share capital (enlarged by the
Capital Raising)(1,2)
Graeme Purdy 836,498 45,455 881,953 0.49%
Keith Jackson 119,999 15,152 135,151 0.08%
Monika Biddulph 16,071 15,152 31,223 0.02%
Jason Stewart 7,142 6,060 13,202 0.01%
1 Assuming full take up of the Retail Offer
2 On the assumption that no new Ordinary Shares are issued under the
Company's share schemes prior to the date of Admission.
Admission & Total Voting Rights
Completion of the Placing and Directors Subscriptions remains subject, inter
alia, to Admission of the Placing and Director Subscription
Shares. Application will be made to the London Stock Exchange for the New
Ordinary Shares to be admitted to trading on AIM. It is expected that dealings
in the New Ordinary Shares will commence on or around 8.00 a.m. on 2 June
2025 (or such time and/or date as the Company and Cavendish may agree, being
not later than 30 June 2025 the Long Stop Date).
Following Admission, assuming the full take up of the New Ordinary Shares
pursuant to the Capital Raising, the Company will have 179,590,053 Ordinary
Shares in issue. For the avoidance of doubt, if the Placing Agreement
between the Company and Cavendish is terminated prior to Admission then none
of the Placing, the Director Subscriptions or the Retail Offer will occur. The
New Ordinary Shares, when issued, will be credited as fully paid and will rank
on Admission pari passu in all respects with each other and with the existing
Ordinary Shares, including the right to receive all dividends and other
distributions declared, made or paid after the date of issue.
For more information contact:
Ilika plc www.Ilika.com (http://www.ilika.com/)
Graeme Purdy, Chief Executive Officer Via FTI Consulting
Jason Stewart, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser & Broker)
Peter Lynch +44 (0)131 220 9772
Neil McDonald +44 (0)131 220 9771
Graham Hall +44 (0)207 397 8919
FTI Consulting (Comms Advisors) Ilika@fticonsulting.com
Ben Brewerton
Elizabeth Adams
Dwight Burden
About Ilika plc - https://www.Ilika.com (https://www.ilika.com/)
Ilika is a global expert in the development of solid state battery technology
for electric vehicles, medical devices and consumer appliances. The Company's
pioneering next-generation technologies aim to provide scalable, affordable
alternatives to conventional batteries, to industries which need to
incorporate a smaller, lighter, and safer power source in their products.
The Company has two product lines. Its Stereax batteries are designed for
powering miniature medical implants, industrial wireless sensors and Internet
of Things (IoT) applications and the Goliath large format batteries are
designed for electric vehicles ("EVs") and cordless appliances.
Through its licensing business model, Ilika supplies its IP portfolio to both
OEMs and manufacturing partners in exchange for a license fee and future
royalties.
Note:
The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under UK MAR. Upon the publication
of this Announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain. If you have any
queries on this, please contact those contacts listed above.
IMPORTANT NOTICES
This Announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward- looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor Cavendish nor any of their respective associates, directors, officers or
advisers undertakes any obligation to update such statements. Comparisons of
results for current and any prior periods are not intended to express any
future trends or indications of future performance, unless expressed as such,
and should only be viewed as historical data.
Cavendish is authorised and regulated by the Financial Conduct Authority (the
"FCA") in the United Kingdom and is acting exclusively for the Company and no
one else in connection with the Placing or any other matters referred to in
this Announcement, and Cavendish will not be responsible to anyone (including
any Placees) other than the Company for providing the protections afforded to
its clients or for providing advice in relation to the Placing or any other
matters referred to in this Announcement.
No representation or warranty, express or implied, is or will be made as to,
or in relation to, and no responsibility or liability is or will be accepted
by Cavendish or by any of its affiliates or agents as to, or in relation to,
the accuracy or completeness of this Announcement or any other written or oral
information made available to or publicly available to any interested party or
its advisers, and any liability therefore is expressly disclaimed.
No statement in this Announcement is intended to be a profit forecast or
estimate, and no statement in this Announcement should be interpreted to mean
that earnings per share of the Company for the current or future financial
years would necessarily match or exceed the historical published earnings per
share of the Company.
The price of shares and any income expected from them may go down as well as
up and investors may not get back the full amount invested upon disposal of
the shares. Past performance is no guide to future performance, and persons
needing advice should consult an independent financial adviser.
The New Ordinary Shares to be issued pursuant to the Capital Raising will not
be admitted to trading on any stock exchange other than the AIM market of the
London Stock Exchange.
Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
Announcement.
PDMR Notification Forms:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Graeme Purdy
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Ilika plc
b) LEI 213800TMDNIE3Z8XXD26
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 1 pence each
Identification code GB00B608Z994
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
33p 45,455
d) Aggregated information N/A- Single Transaction
- Aggregated volume
- Price
e) Date of the transaction 22 May 2025
f) Place of the transaction AIM, London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Keith Jackson
2 Reason for the notification
a) Position/status Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Ilika plc
b) LEI 213800TMDNIE3Z8XXD26
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 1 pence each
Identification code GB00B608Z994
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
33p 15,152
d) Aggregated information N/A- Single Transaction
- Aggregated volume
- Price
e) Date of the transaction 22 May 2025
f) Place of the transaction AIM, London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Monika Biddulph
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Ilika plc
b) LEI 213800TMDNIE3Z8XXD26
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 1 pence each
Identification code GB00B608Z994
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
33p 15,152
d) Aggregated information N/A- Single Transaction
- Aggregated volume
- Price
e) Date of the transaction 22 May 2025
f) Place of the transaction AIM, London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jason Stewart
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Ilika plc
b) LEI 213800TMDNIE3Z8XXD26
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares of 1 pence each
Identification code GB00B608Z994
b) Nature of the transaction Subscription for Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
33p 6,060
d) Aggregated information N/A- Single Transaction
- Aggregated volume
- Price
e) Date of the transaction 22 May 2025
f) Place of the transaction AIM, London Stock Exchange
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