Bonus Issue Update & Issue of Equity

Solid State PLC

27 September 2024

 

27 September 2024

Solid State plc

("Solid State", the "Group" or the "Company")

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.

For further information please contact:

Solid State plc Gary Marsh - Chief Executive Peter James - Group Finance Director	Via Walbrook
Cavendish Capital Markets Limited (Nominated Adviser & Broker) Adrian Hadden / Callum Davidson (Corporate Finance) Jasper Berry / Tim Redfern (Sales / ECM)	020 7220 0500
Walbrook PR (Financial PR)                Tom Cooper / Nick Rome / Joe Walker	020 7933 8780 0797 122 1972 [e-mail]

Analyst Research Reports: For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/

Notes to Editors:

Solid State plc (AIM: SOLI) is a leading value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State's products are found around the world, from the ocean floor and into space, ensuring the smooth operation of systems that augment our everyday lives.

The Company has a core focus on industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays.

Operating through two divisions (Systems and Components) the Group thrives on complex engineering challenges, often requiring design-in support and component sourcing. Serving a wide range of industries, with a particular focus on defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences, and transportation, the Solid State trading brands have become synonymous with quality and reliability. The Group operates under the brands of Steatite, Solsta, Custom Power, Pacer, Active Silicon, and Durakool.

Solid State plc is headquartered in Redditch, UK, and employs over 400 people around the world. The business has six production facilities in the UK and two in the USA. In total, including all office locations, the Group operates from 14 national and international sites.

Solid State was established in 1971 and admitted to AIM in June 1996.  The Group has grown organically and by acquisition - having made three acquisitions in the last four years.  

Take a look at the videos below for more insight into the Solid State Group.

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

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

 

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