REG - Solid State PLC - Bonus Issue Update & Issue of Equity

Solid StateAnnouncement

27/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240927:nRSa8379Fa&default-theme=true

RNS Number : 8379F  Solid State PLC  27 September 2024

 

27 September 2024

 

Solid State plc

("Solid State", the "Group" or the "Company")

Bonus Issue Update

&

Issue of Equity

 

Solid State plc (AIM: SOLI) announces that, further to the passing of
resolution 14 at its Annual General Meeting held on 12 September 2024, the
Company will proceed with implementing the Bonus Issue, further details of
which are set out in the Company's announcement released on 8 August 2024 (the
"Bonus Issue Announcement").  As previously detailed, the Bonus Issue was
proposed to shareholders with the intention of improving the liquidity and
accessibility of the Company's shares, through increasing the Company's issued
share capital at a reduced price per share.

As a result, the Company is issuing a further 45,506,576 ordinary shares of 5
pence each ("Bonus Shares"), representing four new shares for every existing
share held by shareholders. Application has been made to the London Stock
Exchange for the Bonus Shares to be admitted to trading on AIM ("Admission").
It is expected that Admission will take place and dealings in the Bonus Shares
will commence on 2 October 2024.

Following the issue of the Bonus Shares, the Company will have 56,883,220
ordinary shares of 5p each in issue, admitted to trading on AIM, of which
35,980 will be held in Treasury. Accordingly, the total number of voting
rights following the issue of the Bonus Shares will be 56,847,240.
Shareholders may therefore use this figure as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

For the avoidance of doubt, shareholders' percentage holdings in the Company
will not be impacted as a result of the Bonus Issue.

Unless otherwise defined, capitalised terms in this announcement shall have
the same meaning as those defined in the Bonus Issue Announcement.

 

For further information please contact:

 

 Solid State plc                                            Via Walbrook

 Gary Marsh - Chief Executive

 Peter James - Group Finance Director
 Cavendish Capital Markets Limited                          020 7220 0500

 (Nominated Adviser & Broker)

 Adrian Hadden / Callum Davidson (Corporate Finance)

 Jasper Berry / Tim Redfern (Sales / ECM)
 Walbrook PR (Financial PR)                                 020 7933 8780

 Tom Cooper / Nick Rome / Joe Walker                        0797 122 1972

                                                            solidstate@walbrookpr.com (mailto:solidstate@walbrookpr.com)

 

Analyst Research Reports: For further analyst information and research see the
Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 

Notes to Editors:

Solid State plc (AIM: SOLI) is a leading value-added electronics group
supplying industrial and defence markets with durable components, assemblies
and manufactured systems for use in critical applications, with a particular
emphasis on harsh operational environments. Solid State's products are found
around the world, from the ocean floor and into space, ensuring the smooth
operation of systems that augment our everyday lives.

 

The Company has a core focus on industrial and ruggedised computing, battery
power solutions, antennas, secure radio systems, imaging technologies, and
electronic components & displays.

 

Operating through two divisions (Systems and Components) the Group thrives on
complex engineering challenges, often requiring design-in support and
component sourcing. Serving a wide range of industries, with a particular
focus on defence, energy production, aerospace, environmental, oceanographic,
industrial, robotics, medical, life sciences, and transportation, the Solid
State trading brands have become synonymous with quality and reliability. The
Group operates under the brands of Steatite, Solsta, Custom Power, Pacer,
Active Silicon, and Durakool.

 

Solid State plc is headquartered in Redditch, UK, and employs over 400 people
around the world. The business has six production facilities in the UK and two
in the USA. In total, including all office locations, the Group operates from
14 national and international sites.

 

Solid State was established in 1971 and admitted to AIM in June 1996.  The
Group has grown organically and by acquisition - having made three
acquisitions in the last four years.

Take a look at the videos below for more insight into the Solid State Group.

Introduction to Solid State - https://youtu.be/1M_Q_B1mYic
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_1M-5FQ-5FB1mYic&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=At43cSgB_l2_aLDoWAG1btwtdQsj0fGFEOvZuRER61Y&e=)

Why invest in Solid State? - https://youtu.be/ShmTz6005ws
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_ShmTz6005ws&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=BRSABtV1H6lx3GEpH8ZgxTINGT_PRgrBvEbFa-O11Yg&e=)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEUNURRSWUKUAR