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Ilika plc

Ilika expecting no material change to market expectations as a result of COVID-19

Ilika plc (LON:IKA), a pioneer in solid-state battery technology, today provided an update on the actions we have taken to minimise the impact of the COVID-19 virus on our business.

In order to prioritise the safety of our staff, their families and our customers we are ensuring our compliance with UK Government directives to avoid non-essential travel and maximise home-working. Any employees falling into at-risk categories and those showing COVID-19 symptoms are following self-isolation procedures.

We are liaising with our supply chain partners to manage and mitigate the consequences of any localised business disruption.

Through the deployment of effective remote working practices, we are maintaining momentum with planned business discussions and are continuing to mature our commercial pipeline. The Company’s pilot line at the University of Southampton has temporarily closed due to the COVID-19 pandemic but, given our ability to maintain essential existing operations and with the proposed third party fabrication facility expected to proceed as planned, on the basis of current Government guidance, we do not currently expect any material change to market expectations for the financial years ending 30th April 2020, 2021, 2022 and 2023 to arise as a result of the pandemic.

Ilika’s CEO Graeme Purdy, stated, “We have taken a proactive approach to managing the operational risks posed by COVID-19. In particular, we are ensuring continued momentum with our strategy of implementing a manufacturing route for our StereaxTM miniature batteries and also the development of our large format Goliath programme. I would like to extend my thanks to our loyal team of staff, partners, advisors and shareholders through these turbulent times.”

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.