Last checked at 11 Jul 2022 07:00
11 July 2022
Invinity Energy Systems plc
("Invinity" or the "Company")
Grant of Share Options
Further to the announcement on 7 July, the Board of Invinity Energy Systems plc (AIM:IES and AQSE:IES), a leading global manufacturer of utility-grade energy storage, today announces that it has approved the award of share options to Jonathan Marren, the recently appointed Chief Development Officer, who is now an Executive Director of the Company.
The Options will be awarded under the Invinity Energy Systems 2018 Employee Share Option Plan (the "Option Plan").
Options over a total of 500,000 Ordinary Shares will be granted to Jonathan Marren, of which 65,934 are under the CSOP part and 434,066 are under the Unapproved part (the "Options"). The Options will have an exercise price of 45.5 pence per Ordinary Share. The Options will vest annually over three years from the date of grant and are exercisable for a period of ten years from the date of grant.
1 | Details of the person discharging managerial responsibilities | |||||
a) | Name | Jonathan Marren | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Development Officer | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Invinity Energy Systems plc | ||||
b) | LEI | 213800N2NKOTYUNRCU14 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument | Options over ordinary shares of €0.50 each ("Ordinary Shares") | ||||
b) | Identification code of the Financial Instrument | JE00BLR94N79 | ||||
c) | Nature of the transaction | Award of 65,934 CSOP and 434,066 Unapproved options in respect of a total of 500,000 Ordinary Shares at an exercise price of 45.5 pence per Ordinary Share | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information: volume, Price | Aggregated Volume: 500,000 Aggregated Price: 227,500 | ||||
f) | Date of the transaction | 11 July 2022 | ||||
g) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Invinity Energy Systems plc | +44 (0)204 551 0361 |
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Director of Communications | |
Canaccord Genuity (Nominated Adviser and Joint Broker) | +44 (0)20 7523 8000 |
Henry Fitzgerald-O'Connor / James Asensio | |
VSA Capital (Financial Adviser and Joint Broker) | +44 (0)20 3005 5000 |
Andrew Monk / Simon Barton | |
EAS Advisors LLC (US Corporate Advisor) | +1 (646) 495 2225 |
Matthew Bonner / Chris Hutchinson | |
Notes to Editors
Invinity Energy Systems plc (AIM:IES and AQSE:IES) manufactures vanadium flow batteries for large-scale, high-throughput energy storage requirements of business, industry and electrical networks.
Invinity's factory-built flow batteries run continually with no degradation for over 25 years, making them suitable for the most demanding applications in renewable energy production. Energy storage systems based on Invinity's batteries are safe, reliable, and economical, and range in size from less than 250 kilowatt-hours to tens of megawatt-hours.
Invinity was created in April 2020 through the merger of two flow battery industry leaders: redT energy plc and Avalon Battery Corporation. With over 33 MWh of systems deployed to date across more than 50 sites in 15 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and Australia. Invinity Energy Systems plc is listed on the AIM Market of the London Stock Exchange and on the Aquis Stock Exchange (AQSE).
To find out more, visit invinity.com or call Investor Relations on +44 (0)204 551 0361