TIDMIKA
RNS Number : 3380U
Ilika plc
11 July 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS NOT
FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, OR REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
For immediate release
11 July 2018
Ilika plc
Result of Placing
Ilika plc, the advanced solid-state battery technology and
materials innovation company ("Ilika", the "Company" or, together
with its subsidiary undertakings, the "Group"), is pleased to
announce that, following the announcement earlier today (the
"Launch Announcement") regarding the launch of a proposed placing
(the "Placing"), it has successfully placed 20,224,683 new ordinary
shares of one penny each (the "Ordinary Shares") (the "Placing
Shares") at a price of 20 pence per share (the "Placing Price")
raising gross proceeds of approximately GBP4.0 million.
Liberum Capital Limited ("Liberum") acted as sole bookrunner on
the Placing.
The Placing Price represents a discount of approximately 13.0
per cent. to the closing price of 23 pence per Ordinary Share on 10
July 2018, being the last business day prior to the announcement of
the Placing.
The Placing is conditional upon, amongst other things:
-- the Placing Agreement becoming unconditional in all respects
(save for Admission) and not having been terminated in accordance
with its terms;
-- the Resolutions being passed at the General Meeting by the requisite majorities; and
-- Admission of the Placing Shares to trading on AIM becoming effective.
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 30
July 2018.
As announced earlier today, Ilika also intends to raise up to
approximately GBP1.0 million through the issue of 5,058,240 new
Ordinary Shares (the "Open Offer Shares") pursuant to an open offer
(the "Open Offer", together with the Placing, the "Capital
Raising"), to allow Ilika shareholders who are not participating in
the Placing to subscribe for new Ordinary Shares at the Placing
Price. The Company intends to send a circular to shareholders in
connection with the Open Offer on or around 11 July 2018. The
Circular will also be available on the Company's website:
www.ilika.com.
Related Party Transaction
Sapia Partners LLP, Henderson Global Investors Limited and
Hargreave Hale Ltd, who are conditionally subscribing for 2.5m,
2.0m and 3.7m Placing Shares at the Placing Price respectively, by
virtue of them holding more than 10 per cent. of the existing
issued share capital of the Company, are considered to be related
parties of the Company and their participation in the Placing is
therefore a related party transaction under the AIM Rules for
Companies. The Directors consider, having consulted with Liberum,
the Company's nominated adviser, that the terms of the Placing are
fair and reasonable in so far as its shareholders are
concerned.
Director Subscriptions
The following directors have subscribed for New Ordinary Shares
in the following amounts and pursuant to the Director Subscription
Agreements:
Director Existing beneficial New Ordinary Shareholding Shareholding
shareholding Shares subscribed on completion as a percentage
for of the Placing of the Enlarged
Issued Share
Capital
Mike Inglis 115,000 250,000 365,000 0.35 per cent.
-------------------- ------------------- ---------------- -----------------
Graeme Purdy 609,427 125,000 734,427 0.71 per cent.
-------------------- ------------------- ---------------- -----------------
Keith Jackson 20,000 50,000 70,000 0.07 per cent.
-------------------- ------------------- ---------------- -----------------
Capitalised terms not defined in this Announcement have the
meaning given to them in the Launch Announcement.
For more information contact:
Ilika plc www.ilika.com
Graeme Purdy, Chief Executive Tel: 023 8011 1400
Steve Boydell, Finance Director
Liberum Capital Limited Tel: 020 3100 2000
Neil Elliot, Jill Li,
Trystan Cullen, William Hall
Walbrook PR Ltd Tel: 020 7933 8780 / ilika@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Lianne Cawthorne Mob: 07584 391 303
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation. Upon the publication of this
announcement via 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 (responsible for arranging release
of this announcement) on 023 8011 1400.
IMPORTANT NOTICES
This Announcement may contain and the Company may make verbal
statements containing "forward-looking statements" with respect to
certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are beyond the control of the Company,
including amongst other things, United Kingdom domestic and global
economic business conditions, market-related risks such as
fluctuations in interest rates and exchange rates, the policies and
actions of governmental and regulatory authorities, the effect of
competition, inflation, deflation, the timing effect and other
uncertainties of future acquisitions or combinations within
relevant industries, the effect of tax and other legislation and
other regulations in the jurisdictions in which the Company and its
affiliates operate, the effect of volatility in the equity, capital
and credit markets on the Company's profitability and ability to
access capital and credit, a decline in the Company's credit
ratings; the effect of operational risks; and the loss of key
personnel. As a result, the actual future financial condition,
performance and results of the Company may differ materially from
the plans, goals and expectations set forth in any forward-looking
statements. Any forward-looking statements made in this
Announcement by or on behalf of the Company speak only as of the
date they are made. Except as required by applicable law or
regulation, the Company expressly disclaims any obligation or
undertaking to publish any updates or revisions to any
forward-looking statements contained in this Announcement to
reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on
which any such statement is based.
Liberum 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
Liberum 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.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by Liberum or by any of its affiliates or
agents as to, or in relation to, the accuracy or completeness of
this Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefor is expressly disclaimed.
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.
The Placing Shares to be issued pursuant to the Placing will not
be admitted to trading on any stock exchange other than the London
Stock Exchange.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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July 11, 2018 08:19 ET (12:19 GMT)
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