Result of Placing
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Ilika plc (AIM: IKA), an independent global expert in solid-state battery technology, is pleased to announce that, following the announcement made earlier today (the "Launch Announcement") regarding the launch of a proposed placing (the "Placing"), it has successfully conditionally placed 6,071,428 new ordinary shares of one penny each ("Ordinary Shares") (the "Placing Shares") at a price of 28 pence per share (the "Issue Price") raising gross proceeds of approximately £1.7 million.
Certain of the directors of the Company (the "Directors" or the "Board") have also directly conditionally subscribed with the Company for, in aggregate, 78,570 new Ordinary Shares at the Issue Price (the "Director Subscription Shares").
Liberum Capital Limited ("Liberum") is acting as nominated adviser and joint bookrunner in connection with the Placing. Joh. Berenberg, Gossler & Co. KG ("Berenberg" and together with Liberum, the "Joint Bookrunners") is acting as joint bookrunner in connection with the Placing.
The Issue Price represents a discount of approximately 5.1 per cent. to the closing mid-market price of 29.5 pence per Ordinary Share on 9 May 2024, being the last business day prior to the Launch Announcement.
The Capital Raising is conditional upon, inter alia, the passing of the Resolutions at the General Meeting which is expected to be held on 29 May 2024.
Application will be made for the Placing Shares to be admitted to trading on AIM, which is expected to occur at 8.00 a.m. on 31 May 2024.
As announced earlier today, Ilika also intends to raise up to approximately £1.7 million through the issue of up to 6,114,449 new Ordinary Shares (the "Open Offer Shares") pursuant to an open offer (the "Open Offer"), to allow Ilika shareholders, including those who are not participating in the Placing to subscribe for new Ordinary Shares at the Issue Price. The Company intends to publish and send a circular to shareholders in connection with the Open Offer (the "Circular") on or around 13 May 2024. The Circular will also be available on the Company's website: www.ilika.com.
Related Party Transaction
GPIM Limited (the "Substantial Shareholder") is considered to be a related party of the Company for the purposes of Rule 13 of the AIM Rules for Companies by virtue of its status as a substantial shareholder of the Company.
The Substantial Shareholder has agreed to subscribe for 1,300,000 Placing Shares as part of the Placing.
The Directors, having consulted with the Company's nominated adviser, Liberum, consider that the terms of the terms of the Placing are fair and reasonable insofar as the shareholders of the Company are concerned.
Director Subscriptions
The following Directors have conditionally subscribed for New Ordinary Shares in the following amounts and pursuant to the Director Subscription Agreements:
| Director | Existing beneficial shareholding | New Ordinary Shares subscribed for | Shareholding on completion of the Placing | Shareholding as a percentage of the Enlarged Issued Share Capital * |
|---|---|---|---|---|
| Graeme Purdy | 782,927 | 53,571 | 836,498 | 0.49% |
| Jason Stewart | 0 | 7,142 | 7,142 | 0.00% |
| Keith Jackson | 102,142 | 17,857 | 119,999 | 0.07% |
* assuming all of the Open Offer Shares are taken up under the terms of the Open Offer
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").
| a) | Name | 1) Graeme Purdy 2) Jason Stewart 3) Keith Jackson |
| 2 | Reason for the notification | |
| a) | Position/status | 1) Chief Executive Officer 2) Chief Financial Officer 3) Chairman |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Ilika plc |
| b) | LEI | 213800TMDNIE3Z8XXD26 |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of 1 pence each |
| Identification code | ISIN: GB00B608Z994 | |
| b) | Nature of the transaction | Subscription of new Ordinary Shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 1) | 28 pence | 53,571 |
| 2) | 28 pence | 7,142 |
| 3) | 28 pence | 17,857 |
| d) | Aggregated information Aggregate volume Price | Single transactions as in 4 c) above |
| e) | Date of the transaction | 10 May 2024 |
| f) | Place of the transaction | Outside of a trading venue |
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