Ilika plc (LON:IKA) has announced a retail offer via BookBuild to raise up to £0.5 million through the issue of up to 1,785,714 new ordinary shares of 1 pence each in the capital of the Company at an issue price of 28 pence per new Ordinary Share (as defined below).
In addition to the Retail Offer, and as announced at 7.00am this morning, the Company has conditionally raised approximately £4.56 million (gross) through a placing and directors subscription for new Ordinary Shares at the Issue Price.
A separate announcement has been made regarding the placing and directors’ subscription and the associated terms. For the avoidance of doubt, the Retail Offer is not part of the placing and directors’ subscription.
The net proceeds of the Capital Raising will be used to advance the commercial status of the Company’s two product lines, specifically supporting the commercial launch and ramp up of the small format Stereax technology, and the continued development and delivery of the large format Goliath technology, through to a position where it will be possible to secure commercial licensing agreements with commercial partners.
For more information, please contact FTI Consulting at: [email protected].
The Issue Price represents a discount of approximately 3.45 per cent to the closing share price of 29 pence per existing Ordinary Share on 1 July 2026.
The Retail Offer is, inter alia, conditional on the New Ordinary Shares to be issued pursuant to the Retail Offer being admitted to trading on the AIM market operated by the London Stock Exchange. Admission of the New Ordinary Shares pursuant to the Retail Offer is expected to commence on or around AIM at 8.00 a.m. on 9 July 2026. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing.
The intended use of proceeds from the Capital Raising are outlined below:
· Up to £2 million to support Stereax commercial rollout and scaling, enabling the following key milestones:
o Product optimisation support for Cirtec Medical LLC
o Testing and validation of M300 to facilitate battery sales to end customers
o Triggering initial royalty payments
· Up to £3 million to support Goliath’s progression from technical specification finalisation through to licensing, enabling the following key milestones:
o Prototype and production optimisation
o Battery formation equipment purchasing
o Test programme execution
o 10Ah minimum viable product delivery
Expected Timetable in relation to the Retail Offer
| Retail Offer opens | 3 July 2026, 8:00 a.m. |
| Latest time and date for commitments under the Retail Offer | 7 July 2026, 4:30 p.m. |
| Results of the Retail Offer announced | 7 July 2026 |
| Admission and dealings in New Ordinary Shares issued pursuant to the Retail Offer commence | 9 July 2026 |
Any changes to the expected timetable set out above will be notified by the Company through a Regulatory Information Service. References to times are to London times unless otherwise stated.
Dealing Codes
| Ticker | IKA |
| ISIN for the Ordinary Shares | GB00B608Z994 |
| SEDOL for the Ordinary Shares | B608Z99 |
Retail Offer
The Company values its retail shareholder base, which has supported the Company alongside institutional investors since IPO in 2010. Given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/213VJ7/authorised-intermediaries
Cavendish Capital Markets Limited is acting as nominated adviser and sole broker to the Company. In relation to the Capital Raising, Cavendish and Yellowstone Advisory Limited are acting as joint bookrunners and Cavendish is acting as retail offer coordinator in relation to this Retail Offer.
Existing Retail shareholders can contact their broker or wealth manager to participate in the Retail Offer. In order to participate in the Retail Offer, each intermediary must be on-boarded onto the BookBuild platform and agree to the final terms and the retail offer terms and conditions, which regulate, inter alia, the conduct of the Retail Offer on market standard terms and provide for the payment of commission to any intermediary that elects to receive a commission and/or fee (to the extent permitted by the FCA Handbook Rules) from the Retail Offer Coordinator (on behalf of the Company).
Any expenses incurred by any intermediary are for its own account. Investors should confirm separately with any intermediary whether there are any commissions, fees or expenses that will be applied by such intermediary in connection with any application made through that intermediary pursuant to the Retail Offer.
The Retail Offer will be open to eligible investors in the United Kingdom at 8:00am on 3 July 2026. The Retail Offer is expected to close at 4:30pm on 7 July 2026. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.
If any intermediary has any questions about how to participate in the Retail Offer on behalf of existing retail shareholders, please contact BookBuild at email: [email protected].
The Retail Offer the subject of this announcement is and will, at all times, only be made to, directed at and may only be acted upon by those persons who are, shareholders in the Company. To be eligible to participate in the Retail Offer, applicants must meet the following criteria before they can submit an order for Retail Offer Shares1: (i) be a customer of one of the participating intermediaries listed on the above website; (ii) be resident in the United Kingdom and (iii) be a shareholder in the Company (which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations and includes persons who hold their shares in the Company directly or indirectly through a participating intermediary). For the avoidance of doubt, persons who only hold CFDs, Spreadbets and/or similar derivative instruments in relation to shares in the Company are not eligible to participate in the Retail Offer.
The Company reserves the right to scale up the Retail Offer at its discretion should there be demand to do so. The Company reserves the right to scale back any order at its discretion. The Company reserves the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for Retail Offer Shares has been made and accepted via an intermediary, it cannot be withdrawn.
The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after their date of issue.
The Retail Offer is offered in the United Kingdom under an exemption from the prohibition of public offers specified in Part 1 of Schedule 1 of the Public Offers and Admissions to Trading Regulations 2024.
The Retail Offer is not being made to US Persons (as defined in Regulation S of the US Securities Act 1933, as amended) or into any jurisdiction other than the United Kingdom.
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the Retail Offer, and investors’ commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and the Market Abuse Regulation (EU Regulation No. 596/2014) (“MAR”) as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/213VJ7/authorised-intermediaries
There is no maximum application amount to apply in the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Retail Offer Shares and investment in the Company carries a number of risks. Investors should take independent advice from a person experienced in advising on investment in securities such as the Retail Offer Shares if they are in any doubt.
Key Investment Risks
The Retail Offer may involve a significant degree of risk including loss of capital, rarity of dividends, lack of liquidity and potential for dilution and should only be done as part of a diversified portfolio. The value of an investment and the income from it could go down as well as up. The return of your investment is not guaranteed and you may get back less than you originally invested. Past performance is not an indicator of future performance. Suffering a loss on your investment is always a possibility. Capital is at risk.
The potential gains and losses that may arise from your investments will depend on your appetite for risk and how you manage your approach to risk. Investing all your money into one type of investment can be a high risk strategy and concentrate risks to which you and that type of investment may be exposed. A managed approach to risk may
