Issue of Shares

RNS Number : 2002H

Invinity Energy Systems PLC

02 December 2020

 

This announcement contains inside information

2 December 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 450,263 new ordinary shares details of which are provided below.

The Company has issued 430,493 ordinary shares in relation to the conversion into ordinary shares of the RiverFort loan facility (the "RiverFort Shares", the "RiverFort Facility"). The RiverFort Shares represent the conversion of the entirety of the remaining outstanding balance that has been drawn down to date under the RiverFort Facility and all interest due. 

The RiverFort Facility was put in place at the time of the Merger and Fundraise in April 2020.  Details of the RiverFort Facility were included in the Admission Document published on 13 March 2020, which is available on the Company's website.

The Company has also issued 19,770 ordinary shares relating to the exercise of options granted under the Company's Employee Share Scheme by a former Company employee (the "Option Shares", together with the RiverFort Shares, the "New Ordinary Shares").

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence by 7 December 2020.

Following the issue of the New Ordinary Shares, the issued share capital of the Company comprises 73,044,848 ordinary shares with one voting right per share.  The Company does not hold any shares in treasury. Therefore, this figure of 73,044,848 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
Peter Dixon-Clarke, Chief Financial Officer Joe Worthington, Director of Communications
Canaccord Genuity (Nominated Adviser and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor / James Asensio / Angelos Vlatakis
VSA Capital (Financial Adviser and Joint Broker) Andrew Monk / Andrew Raca	[phone]
Hudson Sandler (Financial PR) Nick Lyon / Nick Moore	[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, 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 [phone].

 

END

 

 

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