Invinity Energy Systems PLC Grant of Options (5760G)
July 20 2023 - 2:00AM
UK Regulatory
TIDMIES
RNS Number : 5760G
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 Total Options
Held Following as % of Issued
Grant 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/ Initial notification
Amendment
------------------------- ---------------------------------------------
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 Options over ordinary shares of EUR0.01 each
the financial ("Ordinary Shares")
instrument
------------------------- ---------------------------------------------
b) Identification JE00BLR94N79
code of the Financial
Instrument
------------------------- ---------------------------------------------
c) Nature of the Award of Options
transaction
------------------------- ---------------------------------------------
d) Price(s) and volume(s) Exercise Price(s) Volume(s)
5 1.20 pence 1,500,000
----------
------------------------- ---------------------------------------------
e) Aggregated information: N /a
volume, Price
------------------------- ---------------------------------------------
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/ Initial notification
Amendment
------------------------- ---------------------------------------------
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 Options over ordinary shares of EUR0.01 each
the financial ("Ordinary Shares")
instrument
------------------------- ---------------------------------------------
b) Identification JE00BLR94N79
code of the Financial
Instrument
------------------------- ---------------------------------------------
c) Nature of the Award of Options
transaction
------------------------- ---------------------------------------------
d) Price(s) and volume(s) Exercise Price(s) Volume(s)
5 1.20 pence 1,250,000
----------
------------------------- ---------------------------------------------
e) Aggregated information: N /a
volume, Price
------------------------- ---------------------------------------------
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/ Initial notification
Amendment
------------------------- ---------------------------------------------
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 Options over ordinary shares of EUR0.01 each
the financial ("Ordinary Shares")
instrument
------------------------- ---------------------------------------------
b) Identification JE00BLR94N79
code of the Financial
Instrument
------------------------- ---------------------------------------------
c) Nature of the Award of Options
transaction
------------------------- ---------------------------------------------
d) Price(s) and volume(s) Exercise Price(s) Volume(s)
5 1.20 pence 1,250,000
----------
------------------------- ---------------------------------------------
e) Aggregated information: N /a
volume, Price
------------------------- ---------------------------------------------
f) Date of the transaction 19/7/23
------------------------- ---------------------------------------------
g) Place of the transaction Outside a trading venue
------------------------- ---------------------------------------------
Stay up to date with news from Invinity. Join the distribution
list for the Company's monthly investor newsletter here
Enquiries :
Invinity Energy Systems plc +44 (0)20 4551 0361
Jonathan Marren, Chief Development Officer and Interim
CFO
Joe Worthington, Director of Communications
Canaccord Genuity (Nominated Adviser and Joint Broker) +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor / Harry Pardoe / Gordon
Hamilton
VSA Capital (Financial Adviser and Joint Broker) +44 (0)20 3005 5000
Andrew Monk / Simon Barton
Tavistock (Financial PR Advisor) +44 (0)20 7920 3150
Simon Hudson / Charles Baister invinity@tavistock.co.uk
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 +44
(0)20 4551 0361 or ir@invinity.com
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END
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