The information contained
within this Announcement is deemed by Invinity Energy Systems plc
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018
("MAR").
22 May 2024
Invinity Energy Systems
plc
("Invinity" or the "Company")
Results of Open Offer and
General Meeting
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy
storage, is pleased to announce the results
of the Open Offer, which closed for acceptances at 11.00 a.m. on 21
May 2024. The Company has received valid acceptances from
Qualifying Shareholders in respect of 6,011,983 Open Offer Shares,
representing approximately 21 per cent. of the 28,660,096 new
Ordinary Shares available under the Open Offer, therefore raising
an additional £1,382,756 of proceeds for the Company.
The Board also announces that the
resolution was passed at the Company's General Meeting, held
earlier today. The result of the poll voting (including all
proxies) is detailed below.
|
|
RESOLUTION
|
VOTES FOR*
|
VOTES
AGAINST
|
WITHHELD
|
|
|
|
Number of
votes
|
%
|
Number of
votes
|
Number of
votes
|
|
1
|
That the
Directors of the Company be empowered to allot the Placing Shares,
Subscription Shares, Open Offer Shares and any Ordinary Shares
placed pursuant to the Placing Option as if the pre-emption
provisions in the Articles did not apply.
|
101,533,576
|
97.96%
|
2,113,587
|
29,469
|
*Any proxy appointments, which gave discretion to the
Chairman, have been included in the 'For' votes
total.
Admission
Applications have been made to the
London Stock Exchange and to the Aquis Stock Exchange for 6,011,983
Open Offer Shares, together with 121,739,130 Placing Shares, and
121,739,130 Subscription Shares to be admitted to trading on AIM
and AQSE on 24 May 2024.
A further announcement will be made
in due course with details of any new Ordinary Shares to be issued
and admitted pursuant to the Placing Option, which may close at any
time up until Admission, and with the enlarged number of Ordinary
Shares in issue following completion of the Fundraising.
Other than where defined,
capitalised terms in this announcement have the meanings given to
them in the Announcement released by the Company at 4.44 p.m.
(London time) on 1 May 2024.
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 Financial
Officer and Chief Development Officer
Joe Worthington, Director of
Communications
|
|
|
|
|
|
Canaccord Genuity (Nominated Adviser
and Joint Broker)
|
+44 (0)20 7523 8000
|
|
Henry Fitzgerald-O'Connor / Harry
Pardoe / Ana Ercegovic
|
|
|
|
|
|
VSA
Capital (AQSE Corporate Advisor, Financial Adviser and Joint
Broker)
|
+44 (0)20 3005 5000
|
|
Andrew Monk / Andrew Raca
|
|
|
|
|
|
Tavistock (Financial PR Advisor)
|
+44 (0)20 7920 3150
|
|
Simon Hudson / Saskia Sizen / Adam
Baynes
|
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 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 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.