Results of General Meeting Open Offer and TVR

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.

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."

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").