Last checked at 1 Oct 2020 07:00
This announcement contains inside information
1 October 2020
Invinity Energy Systems plc
("Invinity" or the "Company")
Issue of Shares
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 a total of 123,765 new ordinary shares in relation to the conversion into equity of part of the outstanding loan balance on the RiverFort loan facility. This facility was put in place at the time of the Merger and Fundraise in April 2020. Details of the facility were included in the Admission Document published on 13 March 2020 which is available on the Company's website.
Application has been made for the new ordinary shares to be admitted to trading on AIM and dealings are expected to commence by 6 October 2020.
Following the issue of the new shares, the issued share capital of the Company comprises 71,358,108 ordinary shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 71,358,108 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.
Enquiries:
Invinity Energy Systems plc | +44 (0)20 7121 6111 |
Larry Zulch, Chief Executive Officer |
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Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Head of External Communications |
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Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0)20 7597 5970 |
Jeremy Ellis / Chris Sim / Will Fenby
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VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca | +44 (0)20 3005 5000
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Hudson Sandler (Financial PR) Nick Lyon / Nick Moore | +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, Invinity's highly scalable, factory-built flow battery products make low-carbon renewable generation reliable and 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.