THIS ANNOUNCEMENT 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 STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.

Ilika Plc

 ("Ilika" or the "Company")

Result of General Meeting, Open Offer and Total Voting Rights

On 10 May 2024, Ilika (AIM: IKA), an independent global expert in solid-state battery technology, announced (the "Launch Announcement") a conditional placing (the "Placing") and an associated open offer (the "Open Offer").

The Company is pleased to announce that, at its General Meeting held earlier today, all the resolutions set out in the circular dated 13 May 2024 were duly passed.

Further to this, the Company can now confirm that it will issue, pursuant to the Placing, the Open Offer and the Director Subscriptions, 8,327,424 New Ordinary Shares at 28 pence per share, raising approximately £2.3 million in aggregate. The issue of New Ordinary Shares will be split as follows:

·    5,992,858 shares under the Placing, raising gross proceeds of approximately £1.7 million;

·    2,255,996 shares taken up under the Open Offer, including excess applications, raising gross proceeds of approximately £0.6 million; and

·    78,570 shares under the Director Subscriptions.

Under the Open Offer, the Company has received valid acceptances from Qualifying Shareholders in respect of their basic Open Offer Entitlements for 1,266,373 New Ordinary Shares. In addition, the Company has received valid applications from Qualifying Shareholders under the Excess Application Facility in respect of 989,623 New Ordinary Shares, together representing approximately 37 per cent of the total Open Offer Shares available to Qualifying Shareholders.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.

Pursuant to the Placing, the Open Offer and the Director Subscriptions, the Company has applied to the London Stock Exchange for 8,327,424 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that the Admission will occur at 8:00 a.m. on 31 May 2024.

Following Admission, the Company's issued share capital will comprise 167,303,091 ordinary shares of one penny each and that number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

Capitalised terms not defined in this announcement have the meanings given to them in the Launch Announcement.  

Commenting, Graeme Purdy, Chief Executive of Ilika, said: "We are pleased with the support received for the fundraising. The proceeds will help drive Ilika's roadmap for our Goliath solid-state battery projects, which to date this has been progressing well. In-line with the proposed timeline I am pleased that last week we successfully delivered another key milestone in the roadmap, with the announcement that we have commenced testing of an initial batch of P1 Goliath electric vehicle prototype batteries in a customer-sponsored programme."

About Ilika plc - https://www.ilika.com

Ilika specialises in the developing and commercialisation of solid state batteries. The Company's mission is to rapidly develop leading-edge IP, manufacture and license solid state batteries for markets that cannot be addressed with conventional batteries due to their safety, charge rates, energy density and life limits. The Company achieves this by using ceramic-based lithium-ion technology that is inherently safe in manufacture and usage, higher thermal tolerance and easier to recycle which differentiates our products from existing batteries.

The Company has two product lines. Its Stereax batteries which are designed for powering miniature medical implants, industrial wireless sensors and specialist internet of Things (IoT) applications and the Goliath large format batteries designed for EV cars and cordless appliances.

Note:

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU Regulation No. 596/2014) (as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018) (the "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, then please contact Jason Stewart, Finance Director of the Company (the person responsible for arranging the release of this Announcement) on 0203 8011 1400.