Results of GM, Open Offer and Total Voting Rights

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

Results of General Meeting, Open Offer and Total Voting Rights

On 9 July 2021, Ilika plc (AIM: IKA) the advanced solid-state battery company ("Ilika" or the "Company"), announced a conditional placing (the "Placing") to raise gross proceeds of approximately £18.0 million, a retail offer via PrimaryBid (the "Retail Offer") to raise gross proceeds of approximately £3.0 million and an associated open offer (the "Open Offer") to raise gross proceeds of up to approximately £3.7 million (the "Launch Announcement").

The Company is pleased to announce that, at its General Meeting held earlier today, all of the Resolutions set out in the circular dated 12 July 2021 were duly passed.

Further to this, the Company can now confirm that it will issue, pursuant to the Placing, the Retail Offer, the Open Offer and the Director Subscriptions, 17,673,809 New Ordinary Shares at 140 pence per share, raising approximately £24.7 million in aggregate. The issue of New Ordinary Shares will be split as follows:

·    12,846,428 shares under the Placing, raising gross proceeds of approximately £18.0 million;

·    2,142,857 shares under the Retail Offer, raising gross proceeds of approximately £3.0 million;

·    2,673,811 shares taken up under the Open Offer, including excess applications, raising gross proceeds of approximately £3.7 million; and

·    10,713 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 828,483 New Ordinary Shares, representing approximately 31 per cent. of the total Open Offer Shares available to Qualifying Shareholders. In addition, the Company has received valid applications from Qualifying Shareholders under the Excess Application Facility in respect of 1,984,741 New Ordinary Shares.

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

As applications under the Excess Application Facility cannot be satisfied in full, applications for New Ordinary Shares under the Excess Application Facility will be scaled back on the following basis: Applications under the Excess Application Facility for Excess Shares have been allocated approximately 92.98 per cent. of the number of Excess Shares applied for.

Accordingly, pursuant to the EIS/VCT Placing, the Company has applied to the London Stock Exchange for 1,428,571 New Ordinary Shares to be admitted to trading on AIM ("EIS/VCT Admission").  It is expected that EIS/VCT Admission will occur at 8.00 a.m. on 29 July 2021. Additionally, pursuant to the General Placing, the Retail Offer, the Open Offer and the Director Subscriptions, the Company has applied to the London Stock Exchange for 16,245,238 New Ordinary Shares to be admitted to trading on AIM ("General Admission"). It is expected that General Admission will occur at 8:00 a.m. on 30 July 2021.

Following EIS/VCT Admission and General Admission, the Company's issued share capital will comprise 156,711,981 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.

As mentioned in the Launch Announcement, in addition, Steve Boydell, Brian Hayden and Graeme Purdy intend to exercise options entitling them to 10,000, 8,000 and 30,000 new Ordinary Shares respectively in accordance with the terms of the Company's bonus scheme as soon as reasonably practicable, conditionally on the Capital Raising becoming unconditional.

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

Commenting on the results of the General Meeting and the Open Offer, Graeme Purdy, Chief Executive of Ilika, said:

"We are delighted with the support for the fund raising, including from both existing and new institutional shareholders, which has been fully subscribed, raising the maximum of £24.7m. We look forward to accelerating the development of our solid-state electric vehicle pouch cells through our Goliath programme and will update the market with further developments in due course."

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 Steve Boydell, Finance Director of the Company (the person responsible for arranging the release of this announcement) on 0203 8011 1400.