Business
Admission to AIM
Admission to AIM.
About this update from Ilika Plc
[{"type":"text","content":"\n RNS Number : 9054L Ilika plc 14 May 2010 \n \n\n \n \n \nILIKA plc\n \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, JAPAN OR AUSTRALIA.\n \nThis announcement is not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in the Company or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities.\n \n14 MAY 2010\n \nPLACING OF ORDINARY SHARES, ADMISSION TO TRADING ON AIM\nAND FIRST DAY OF DEALINGS\n \nIlika plc (AIM: IKA), the advanced cleantech materials discovery company, is pleased to announce admission of its ordinary shares to trading on AIM (\"Admission\") at 08.00 a.m. today. Nomura Code Securities Limited (\"Nomura Code\") is acting as Nominated Adviser and Broker to the Company. The Company has raised approximately £5.2 million before expenses through the issue of 10,147,059 Placing Shares at 51 pence per share. On Admission, the Company will have 36,569,359 Ordinary Shares in issue and a market capitalisation of approximately £18.7 million.\n \n \nDETAILS OF THE PLACING AND IPO\nThe Company raised gross proceeds of approximately £5.2 million (net proceeds of approximately £4.4 million) from the Placing which will be used to fund the further development of identified materials for the energy, electronics and biomedical sectors. The products resulting from these materials are expected to generate significant revenues from (1) milestones and royalties resulting from the licensing of the materials being developed under existing joint development programmes with the Company's partners and for which \"proof of concept\" has been demonstrated; and (2) through direct biomedical product sales.\n \n· The Placing comprises the issue of 10,147,059 Placing Shares at 51 pence per share together ...