Last checked at 15 Jun 2020 11:30
15 June 2020
Invinity Energy Systems plc
("Invinity" or the "Company")
ISSUE OF SHARES
DIRECTOR/PDMR NOTIFICATION
Invinity Energy Systems plc (AIM:IES), manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, has today issued 1,172,288 new ordinary shares of €0.50 each ("New Ordinary Shares"). 1,020,438 of these New Ordinary Shares have been issued in lieu of the cash payment of a Company adviser fee and 151,850 of these New Ordinary Shares have been issued in lieu of the cash payment of a bonus award to Mr Fraser Welham, Chief Financial Officer and a person discharging managerial responsibilities. The Board chose to settle these liabilities in shares to preserve cash within the business.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 16 June 2020.
Following these share issues, the issued share capital of the Company comprises 70,740,076 ordinary shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 70,740,076 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of Invinity under the FCA's Disclosure Guidance and Transparency Rules.
This information is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1 | Details of the person discharging managerial responsibilities | |||||
a) | Name | Fraser Welham | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial 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 | Ordinary shares of €0.50 each | ||||
b) | Identification code of the Financial Instrument | JE00BLR94N79 | ||||
c) | Nature of the transaction | Issue of shares in lieu of the cash payment of a bonus | ||||
d) | Price(s) and volume(s) |
| ||||
e) | Aggregated information: volume, Price | Aggregated Volume: 151,850 Aggregated Price: N/A | ||||
f) | Date of the transaction | 15 June 2020 | ||||
g) | Place of the transaction | London Stock Exchange (XLON) | ||||
Enquiries:
Invinity Energy Systems plc | +44 (0)20 7121 6111 |
Larry Zulch, Chief Executive Officer | |
Fraser Welham, Chief Financial Officer Joe Worthington, Head of External Communications | |
Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0)20 7597 5970 |
Jeremy Ellis / Chris Sim / Will Fenby
| |
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca | +44 (0)20 3005 5000
|
Hudson Sandler (Financial PR) Nick Lyon / Toby Andrews | +44(0) 207 796 4133 |
Notes to Editors
Invinity Energy Systems plc (AIM:IES) manufactures vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks.
Developed specifically for high-utilisation applications that make low-carbon renewable generation reliable, Invinity's highly scalable, factory-built flow battery products can run continually with no degradation, charging and discharging for over 25 years. 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 10MWh of systems deployed to date across 40 sites in 14 countries, Invinity is active in all major global energy storage markets and has operations in the UK, Canada, USA, China and South Africa. Invinity Energy Systems plc is listed on the London Stock Exchange.
To find out more, visit invinity.com or call Investor Relations on +44 (0) 207 121 6111.