Result of Placing & Director Subscription.

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

22 May 2025

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 announce that further to the Company's announcement released on 21 May 2025 (the "Launch Announcement"), the accelerated bookbuild has closed.  The Company had intended to raise gross proceeds of approximately £3.0 million through the Placing.  However, the Company received further demand following the Launch Announcement and, as a result, the Company has conditionally raised gross proceeds of approximately £3.3 million before expenses by way of a successful placing of, and subscription for, a total of 9,965,836 new Ordinary Shares at the Issue Price of 33 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 1,515,151 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 later today.

The Company intends to use the net proceeds of the Capital Raising primarily to advance the commercial status of both of the Company's product lines, specifically supporting the commercial launch and ramp up of Stereax and the continued development of the Goliath technology through to a position where it is possible to secure commercial licensing agreements with commercial partners.

Cavendish Capital Markets Limited ("Cavendish") acted as nominated adviser, sole bookrunner and sole broker in connection with the Capital Raising.

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 2 June 2025 (or such later date as Cavendish may agree in writing with the Company, being not later than 8.00 a.m. on 30 June 2025, the Long Stop Date).

Commenting on the Capital Raising, Graeme Purdy, CEO of Ilika, said:

"We are delighted with the continued support received for this placing from existing and new high quality institutional investors. We'd like to thank those investors and our hard-working advisors for enabling this successful placing. We're pleased that our fundraising strategy of maximising return on investment for our shareholders while minimising dilution continues to resonate strongly with our investor base."

Director Participation

A total of 81,819 Director Subscription Shares are, conditional upon Admission, being issued to certain Directors. The following Directors have participated in the Directors Subscriptions:

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 2 June 2025 (or such time and/or date as the Company and Cavendish may agree, being not later than 30 June 2025 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 179,590,053 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.

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 electric vehicles ("EVs") and cordless appliances.

Through its licensing business model, Ilika supplies its IP portfolio to both 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.

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 Cavendish 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 therefore 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 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.

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: