Grant of Options

Invinity Energy Systems PLC

20 July 2023

 

20 July 2023

Invinity Energy Systems plc

("Invinity" or the "Company")

Grant of Options

Further to the Directors' Remuneration Report contained within Invinity's 2022 Annual Report and Accounts, published on 28 June 2023, the Board of Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) announces that following the conclusion of a review of the Company's executive director remuneration policy by external remuneration consultant Alvarez & Marsal Tax LLP it has approved the award of options over the Company's shares to the following persons discharging managerial responsibilities ("PDMRs") under the Invinity Energy Systems 2018 Employee Share Option Plan (the "Options").

	Options Granted	Vesting Date*	Total Options Held Following Grant	Total Options as % of Issued Share Capital
Larry Zulch	1,500,000	19 July 2026	1,500,000	0.79%
Jonathan Marren	1,250,000	19 July 2026	1,750,000	0.92%
Matthew Harper	1,250,000	19 July 2026	1,886,099	0.99%

*The Options will vest in full three years from the date of grant and are subject to a further holding period of one year post vesting.

The exercise price of the Options is 51.2p, being the closing price on the latest practicable date prior to this announcement.

1	Details of the person discharging managerial responsibilities
a)	Name	Lawrence Zulch
2	Reason for the notification
a)	Position/status	Chief Executive 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 €0.01 each ("Ordinary Shares")
b)	Identification code of the Financial Instrument	JE00BLR94N79
c)	Nature of the transaction	Award of Options
d)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 51.20 pence 1,500,000
e)	Aggregated information:  volume, Price	N/a
f)	Date of the transaction	19/7/23
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	Matthew Harper
2	Reason for the notification
a)	Position/status	Chief Commercial 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 €0.01 each ("Ordinary Shares")
b)	Identification code of the Financial Instrument	JE00BLR94N79
c)	Nature of the transaction	Award of Options
d)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 51.20 pence 1,250,000
e)	Aggregated information:  volume, Price	N/a
f)	Date of the transaction	19/7/23
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	Jonathan Marren
2	Reason for the notification
a)	Position/status	Chief Development Officer & Interim CFO
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 €0.01 each ("Ordinary Shares")
b)	Identification code of the Financial Instrument	JE00BLR94N79
c)	Nature of the transaction	Award of Options
d)	Price(s) and volume(s)	Exercise Price(s) Volume(s) 51.20 pence 1,250,000
e)	Aggregated information:  volume, Price	N/a
f)	Date of the transaction	19/7/23
g)	Place of the transaction	Outside a trading venue

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Enquiries:

Invinity Energy Systems plc	[phone]
Jonathan Marren, Chief Development Officer and Interim CFO Joe Worthington, Director of Communications
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / Harry Pardoe / Gordon Hamilton
VSA Capital (Financial Adviser and Joint Broker)	[phone]
Andrew Monk / Simon Barton
Tavistock (Financial PR Advisor)	[phone]
Simon Hudson / Charles Baister	[e-mail]

Notes to Editors

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) 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 65 MWh of systems already deployed or contracted for delivery across over 70 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 in the UK on AIM and AQSE and trades in the USA on OTCQX.

To find out more, visit invinity.com, sign up to our monthly Investor Newsletter here or contact Investor Relations on via [phone] or [e-mail] 

 

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