Bonus Issue Update & Issue of Equity

Bonus Issue Update

&

Issue of Equity

Solid State plc (AIM: SOLI) announces that, further to the passing of resolution 14 at its Annual General Meeting held on 12 September 2024, the Company will proceed with implementing the Bonus Issue, further details of which are set out in the Company's announcement released on 8 August 2024 (the "Bonus Issue Announcement"). As previously detailed, the Bonus Issue was proposed to shareholders with the intention of improving the liquidity and accessibility of the Company's shares, through increasing the Company's issued share capital at a reduced price per share.

As a result, the Company is issuing a further 45,506,576 ordinary shares of 5 pence each ("Bonus Shares"), representing four new shares for every existing share held by shareholders. Application has been made to the London Stock Exchange for the Bonus Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place and dealings in the Bonus Shares will commence on 2 October 2024.

Following the issue of the Bonus Shares, the Company will have 56,883,220 ordinary shares of 5p each in issue, admitted to trading on AIM, of which 35,980 will be held in Treasury. Accordingly, the total number of voting rights following the issue of the Bonus Shares will be 56,847,240. Shareholders may therefore use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For the avoidance of doubt, shareholders' percentage holdings in the Company will not be impacted as a result of the Bonus Issue.

Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as those defined in the Bonus Issue Announcement.

Introduction to Solid State - https://youtu.be/1M_Q_B1mYic

Why invest in Solid State? - https://youtu.be/ShmTz6005ws