Result of Placing & Director Subscription
Summary by AI BETAClose X
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 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. 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 FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
3 July 2026
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 confirm that further to the Company's announcement released at 5.08 p.m. on 2 July 2026 (the "Launch Announcement"), the ABB has now successfully closed, and the Company has conditionally raised gross proceeds of approximately £4.56 million before expenses by way of a successful oversubscribed placing of, and subscription for, a total of 16,271,425 new Ordinary Shares at the Issue Price of 28 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 1,785,714 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 in due course.
The net proceeds of the Capital Raising will be used to advance the commercial status of the Company's two product lines, specifically supporting the commercial launch and ramp up of the small format Stereax technology, and the continued development and delivery of the large format Goliath technology, through to a position where it will be possible to secure commercial licensing agreements with commercial partners.
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 9 July 2026 (or such later date as Cavendish may agree in writing with the Company, being not later than 8.00 a.m. on 23 July 2026 the Long Stop Date).
The Capital Raising has been carried out pursuant to the Company's existing shareholder authorities granted at the Company's 2025 Annual General Meeting.
Graeme Purdy, CEO of Ilika, said: "We thank investors, new and existing, for their support. This capital raised will support the further commercialisation of our Stereax technology, enable us to further optimise our Goliath prototypes and invest in equipment to enable us to launch our first Goliath product. Stereax continues to be of great interest to active implantable medical device developers while the Goliath EV roadmap has reached an exciting intersection point with the urgent sovereign needs of the defence sector."
Director Participation
As part of the Capital Raising a total of 71,429 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 |
881,953 |
53,571 |
935,524 |
0.47% |
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Keith Jackson |
131,151 |
17,858 |
153,009 |
0.08% |
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 9 July 2026 (or such time and/or date as the Company and Cavendish may agree, being not later than 8.00 a.m. on 23 July 2026 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 198,889,314 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.
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For more information contact: |
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Ilika plc |
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Graeme Purdy, Chief Executive Officer |
Via FTI Consulting |
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Jason Stewart, Chief Financial Officer |
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Cavendish Capital Markets Limited (Nominated Adviser, Broker & Joint Bookrunner) |
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Corporate Finance |
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Peter Lynch |
+44 (0)131 220 9772 |
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Neil McDonald
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+44 (0)131 220 9771
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Hanna Leijonmarck |
+44 (0)20 7908 6029 |
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Equity Sales & Corporate Broking |
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Graham Hall |
+44 (0)20 7397 8919 |
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Harriet Ward |
+44 (0)20 7220 0512 |
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FTI Consulting (Comms Advisors) |
Ilika@fticonsulting.com |
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Ben Brewerton |
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Elizabeth Adams |
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Dwight Burden |
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Yellowstone Advisory Limited (Joint Bookrunner) |
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Alex Schlich Chris Stebbings |
+44 (0)7710 164 120 |
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About Ilika plc - 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 EVs and cordless appliances.
Through its licensing business model, Ilika supplies its intellectual property ("IP") portfolio to both original 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. The responsibilities of Cavendish as the Company's Nominated Adviser under the AIM Rules for Companies and the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any director or shareholder of the Company or any other person.
Yellowstone Advisory Limited ("Yellowstone"), which is authorised and regulated by the FCA in the United Kingdom and is acting as joint bookrunner to the Company and no one else in connection with the Placing, and Yellowstone will not be responsible to anyone (including any purchasers of the Placing Shares) 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.
Cavendish and Yellowstone (together the "Joint Bookrunners") are not making any representation or warranty, express or implied, as to the contents of this Announcement. The Joint Bookrunners have not authorised the contents of, or any part of, this Announcement, and no liability whatsoever is accepted by the Joint Bookrunners for the accuracy of any information or opinions contained in this Announcement or for the omission of any material information. Neither the Company, the Joint Bookrunners nor any of their respective parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any of their respective directors, officers, partners, employees, agents, affiliates, representatives or advisers, or any other person their respective affiliates and advisers, agents and/or any other party undertakes or is under any duty to update this announcement or to correct any inaccuracies in any such information which may become apparent or to provide any person with any additional information. Save in the case of fraud, no responsibility or liability is accepted by any such person for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred, however arising, directly or indirectly, from any use of, as a result of the reliance on, or otherwise in connection with, this announcement. In addition, no duty of care or otherwise is owed by any such person to recipients of this announcement or any other person in relation to this announcement.
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.
Neither this announcement, nor any copy of it, may be taken or transmitted, published or distributed, directly or indirectly, in or into the United States (including its territories and dependencies, any state of the United States and the District of Columbia), Australia, Canada, Japan, New Zealand or the Republic of South Africa or to any persons in any of those jurisdictions or any other jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction. This announcement is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for any shares in the capital of the Company in the United States, Australia, Canada, Japan or the Republic of South Africa or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Any failure to comply with these restrictions may constitute a violation of securities laws of such jurisdictions.
The Placing Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the applicable state securities laws of the United States and may not be offered or sold directly or indirectly in or into the United States or to or for the account or benefit of any US person (within the meaning of Regulation S under the US Securities Act) (a "US Person"). No public offering of the Placing Shares is being made in the United States. The Placing Shares are being offered and sold outside the United States in "offshore transactions", as defined in, and in compliance with, Regulation S under the US Securities Act. In addition, the Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended.
All offers of the Placing Shares will be made under an exception to the prohibition on offers to the public under POATR or Regulation (EU) 2017/1129. No offering document or prospectus has been or will be prepared or submitted to be approved by the FCA or submitted to the London Stock Exchange or in any other jurisdiction in relation to the Placing.
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.
This Announcement is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"), by a person authorised under FSMA. This Announcement is being distributed to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.
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:
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Graeme Purdy
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Ilika plc
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b)
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LEI
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213800TMDNIE3Z8XXD26
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares of 1 pence each |
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Identification code |
GB00B608Z994 |
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b)
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Nature of the transaction
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Subscription for Ordinary Shares |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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28p |
53,571 |
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d)
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Aggregated information |
N/A - Single Transaction |
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction
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2 July 2026 |
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f)
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Place of the transaction
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AIM, London Stock Exchange |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Keith Jackson
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2
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Reason for the notification
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a)
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Position/status
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Chairman |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Ilika plc
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b)
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LEI
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213800TMDNIE3Z8XXD26
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares of 1 pence each |
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Identification code |
GB00B608Z994 |
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b)
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Nature of the transaction
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Subscription for Ordinary Shares |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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28p |
17,858 |
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d)
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Aggregated information |
N/A - Single Transaction |
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction
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2 July 2026 |
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f)
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Place of the transaction
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AIM, London Stock Exchange |
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