14 October 2024
Invinity Energy Systems
plc
("Invinity" or the "Company")
Changes to Option
Terms
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy
storage, announces the following changes to
the expiry dates of certain existing share options.
Gamesa Electric
As part of the Joint Development and
Commercialisation Agreement announced on 11 May 2021, the Company
granted Gamesa Electric options over 8,672,273 Ordinary Shares
("Ordinary Shares"), exercisable at a price of £1.75 per Ordinary
Share, with an expiry date of 10 May 2025.
The Board of Directors has agreed to
extend the expiry date by one year to 10 May 2026. All other terms
and conditions pertaining to the share options held by Siemens
Gamesa remain unchanged.
Historic Employee Share
Options
An aggregate of 1,052,134 options
over ordinary shares of €0.01 each in the Company") are held by
certain long-standing employees of the Company (the "Employee Share
Options"). The Employee Share Options, which have an exercise price
of 4.34p, were granted between 2014 and 2016 to retain and
incentivise key members of staff. 774,489 of the Employee Share
Options are currently due to expire on 21 November 2024 and 227,645
of the Employee Share Options are due to expire on 7 July
2026.
The Board of Directors has resolved
that the date by which both tranches of the Employee Share Options
must be exercised should be extended to 21 November 2029. The
amendment extends the benefit of the Employee Share Options as a
long-term performance incentive and removes the requirement for
holders to exercise options in the near term which would likely
have involved the sale of shares to fund the subscription cost and
tax charges.
The exercise price of the Employee
Share Options, and all other conditions, remain
unchanged.
Matt Harper, Chief Commercial
Officer of the Company, holds 336,099 of the Employee Share
Options, of which 263,034 were due to expire on 21 November 2024
and 73,065 were due to expire on 7 July 2026. The expiry date of
the 336,099 Employee Share Options held by Matt Harper will also be
extended to 21 November 2029.
All other terms and conditions
pertaining to Matt Harper's options remain unchanged.
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here
Enquiries:
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Invinity Energy Systems plc
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+44 (0)20 4551 0361
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Jonathan Marren, Chief Executive
Officer
Joe Worthington, Director of
Communications and Investor Relations
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Canaccord Genuity (Nominated Adviser
and Joint Broker)
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+44 (0)20 7523 8000
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Henry Fitzgerald-O'Connor / Harry
Pardoe / Charlie Hammond
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VSA
Capital (AQSE Corporate Advisor, Financial Adviser and Joint
Broker)
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+44 (0)20 3005 5000
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Andrew Monk / Andrew Raca
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Tavistock (Financial PR Advisor)
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+44 (0)20 7920 3150
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Simon Hudson / Saskia Sizen / Adam
Baynes
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invinity@tavistock.co.uk
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Notification of a Transaction pursuant to Article 19(1) of the
EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of
domestic law by virtue of the European Union (Withdrawal) Act
2018.
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1
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Details of the person discharging managerial
responsibilities/person closely associated
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a.
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Name
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Mr Matt Harper
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2
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Reason for notification
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a.
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Position/Status
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Chief Commercial Officer
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b.
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Initial notification/
Amendment
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Initial notification
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3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a.
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Name
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Invinity Energy Systems
plc
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b.
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LEI
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213800N2NKOTYUNRCU14
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4
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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
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a.
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Description of the financial
instrument, type of instrument
Identification Code
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Options over Ordinary Shares of €0.01 each
JE00BLR94N79
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b.
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Nature of the transaction
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Amendment to terms of existing share
options
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c.
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Price(s) and volume(s)
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Exercise Price
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Volume
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4.34p
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336,099
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d.
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Aggregated information
- Aggregated Volume
- Price
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N/a
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e.
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Date of the transaction
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14 October 2024
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f.
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Place of the transaction
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Outside a trading venue
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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 75 MWh of systems
already deployed or contracted for delivery across 82 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 quoted 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 +44 (0)20 4551 0361 or
ir@invinity.com