Issue of Shares

RNS Number : 7688R

Invinity Energy Systems PLC

01 July 2020

 

1 July 2020

Invinity Energy Systems plc

("Invinity" or the "Group")

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 210,576 new ordinary shares ("New Ordinary Shares"). 

The New Ordinary Shares have been issued in lieu of the cash payment of fees in connection with the £3m Riverfort loan facility arranged by the Group and previously announced on 13 March 2020. 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 7 July 2020.

Following the issue of the New Ordinary Shares, the issued share capital of the Company comprises 70,950,652 ordinary shares with one voting right per share.  The Company does not hold any shares in treasury. Therefore, this figure of 70,950,652 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	[phone]
Larry Zulch, Chief Executive Officer
Fraser Welham, Chief Financial Officer Joe Worthington, Head of External Communications
Investec Bank plc (Nominated Adviser and Joint Broker)	[phone]
Jeremy Ellis / Chris Sim / Will Fenby
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca	[phone]
Hudson Sandler (Financial PR) Nick Lyon / Toby Andrews	[phone]

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 [phone].

 

END

 

 

IOEEFLFBBDLXBBK