Ilika plc Trading update (8844P)
November 23 2016 - 1:00AM
UK Regulatory
TIDMIKA
RNS Number : 8844P
Ilika plc
23 November 2016
Ilika plc
("Ilika" or the "Company")
Trading update
Ilika (AIM: IKA), a pioneer in materials innovation and
solid-state battery technology, announces a trading update for the
six months ended 31 October 2016.
The Company remains focused on developing and licensing its
solid state battery Intellectual Property in line with its roadmap.
Commercialisation activity increased in the period and Ilika has
continued to deploy the majority of its operational resource on its
battery development programme, whilst the materials development
programmes in its portfolio have also progressed to plan. The major
materials development programmes in the period have been plasmonic
lenses with Seagate and aerospace alloys, in collaboration with
partners including Rolls Royce, GKN and BAE Systems.
The financial results are expected to show total revenue for the
period of GBP330k (H1 2015: GBP254k) and an operating loss for the
period, excluding share based payment charge, of around GBP1.9m (H1
2015: GBP1.8m). As a result of the placing in October, cash and
cash equivalents at the period end were GBP7.1m (H1 2015:
GBP4.5m).
The Company will announce half-year results for the six months
ended 31 October 2016 on 9 January 2017.
Post period end events
The Company has received notifications of intent to award three
new grants, two of which involve solid state battery integration
programmes, amounting to an aggregate revenue value to the Company
of GBP1.4m over two years. All three programmes are expected to
start in this current financial year and will be carried out in
partnership with globally-recognised OEMs. In addition, Ilika has
received a notification of intent to award a commercially-funded
materials development programme from an existing customer to a
value of around $1m over 12 months. This is also expected to start
in this current financial year. Further announcements regarding
these programmes will be made in due course.
Patent update
The Company has received Notices of Allowance in the US in
respect of two patent applications covering its vapour deposition
process for solid state battery materials and also, metal oxide
supports for fuel cell catalysts.
Graeme Purdy, CEO of Ilika, commented: "The intensive commercial
discussions we have had with partners in the first half of the year
are maturing and we are making progress with the implementation of
our licensing model. We are seeing the expected upturn in
development revenues and commencing these new programmes within the
timelines expected, will ensure the Company meets analyst
expectations for the 100% growth in materials development revenue
relative to last year."
For more information contact:
Ilika plc www.ilika.com
Graeme Purdy, Chief Executive Tel: 023 8011 1400
Steve Boydell, Finance Director
Numis Securities Limited Tel: 020 7260 1000
Oliver Cardigan/ Paul Gillam (Corporate
Adviser)
James Black/ Michael Burke (Corporate
Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or ilika@walbrookpr.com
Paul Cornelius Mob: 07866 384 707
Paul McManus Mob: 07980 541 893
This information is provided by RNS
The company news service from the London Stock Exchange
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