AGM Statement

RNS Number : 4316S

Ilika plc

24 September 2014

 



 

Ilika plc

("Ilika" or the "Company")

AGM statement

Ilika (AIM: IKA), the accelerated materials innovation company, will hold its Annual General Meeting today at 12 noon at the offices of Eversheds LLP, One Wood Street, London EC2V 7WS.

Ahead of the formal proceedings Graeme Purdy, CEO of Ilika, will provide the following update to shareholders:

Since the announcement of our final results in July, the Company has continued to make good progress and we were very pleased to announce a commercial contract with a new European partner to develop leading edge lithium ion battery materials. As we mentioned at the time, this contract brought the level of committed revenue for the current financial year to over £825k, significantly ahead of the level committed at the same point last year.

We were also delighted to announce yesterday that the pilot line for the production of prototype solid state batteries had successfully completed its factory acceptance test, a key milestone in the commercialisation of our innovative battery technology. The successful development and commercialisation of our stacked solid-state battery is a clear goal for the team at Ilika and we are very pleased to be progressing as expected.

As well as our significant advances in solid state batteries, we are also pleased with the progress being made in the development of our low cost fuel cell catalyst.

Overall we have worked hard to increase our customer base and ensure a more even spread of commercial engagements geographically. We are confident that the Company is trading in line with expectations and would like to thank our shareholders for their continued support.

For more information contact:

Ilika plc	www.ilika.com
Graeme Purdy, Chief Executive	Tel: [phone]
Steve Boydell, Finance Director
Numis Securities Limited	Tel: [phone]
Oliver Cardigan, Nominated Adviser
James Black, Corporate Broking
Walbrook PR Ltd	Tel: [phone] / [e-mail]
Paul McManus	Mob: [phone]
Paul Cornelius	Mob: [phone]

 

END

 

 

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