Solid State PLC AGM Statement (0030L)

TIDMSOLI

RNS Number : 0030L

Solid State PLC

08 September 2021

Solid State plc

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

AGM Statement

The Chairman of Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, will read out the following statement at the Annual General Meeting to be held at 9.30am today:

"The Board is pleased to report a continuation of the positive start to the year, as announced in July within our 2021 Annual Results. The order book is strong with an encouraging balance across industry sectors and regions, including a rebound in some sectors previously affected by COVID delays.

"The acquisitions of Willow Technologies and Active Silicon have quickly proven their value, resulting in new business which could not have been secured by either party alone. Solid State remains acquisitive for complementary technologies and international opportunities that would advance the Group's ambition of broadening its product and market exposure.

"The Group continues to invest in developing its product offering for targeted strategic growth markets and ensuring Group resilience through sector and product diversity.

"The Board remains alert to the challenges presented by global supply chain and COVID risks. The Group balance sheet strength and the experience of the management team have contributed to a mitigation strategy which has assisted greatly in navigating many of the hazards.

"The Board remains optimistic about the Group's prospects and will provide a trading update for the first six months of the financial year in October 2021."

For further information please contact:

 
 Solid State plc                          Via Walbrook 
  Gary Marsh - Chief Executive 
  Peter James - Group Finance Director 
 WH Ireland (Nominated Adviser & Joint 
  Broker) 
  Mike Coe / Sarah Mather (Corporate 
  Finance) 
  Jasper Berry (Corporate Broking / 
  Sales)                                  020 7220 1666 
 finnCap (Joint Broker) 
  Ed Frisby (Corporate Finance) 
  Rhys Williams / Tim Redfern (Sales 
  / ECM)                                  020 7220 0500 
 Walbrook PR (Financial PR)               020 7933 8780 
  Tom Cooper / Nick Rome                   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 (SOLI) is a value added electronics group supplying commercial, industrial and military markets with durable components, assemblies and manufactured units for use in specialist and harsh environments. The Group's mantra is - 'Trusted technology for demanding applications'. To see an introductory video on the Group - https://bit.ly/3kzddx7

Operating through two main divisions: Manufacturing (Steatite & Active Silicon) and Value Added Supplies (Solid State Supplies, Pacer, Willow Technologies & AEC); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic, electro-mechanical and opto-electronic products.

Headquartered in Redditch, UK, Solid State employs approximately 300 staff across UK and US, serving specialist markets in energy production, transportation, medical, construction, security, military and field maintenance.

Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made 12 acquisitions since 2002.

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September 08, 2021 02:00 ET (06:00 GMT)