REG - Gelion PLC - Issue of shares and change to total voting rights

GelionAnnouncement

13/10/2022 10:30

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RNS Number : 8024C  Gelion PLC  13 October 2022

Gelion plc

("Gelion" or the "Company")

Issue of shares and change to total voting rights

Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, announces
that it has today issued 1,026,515 ordinary shares of 0.1 pence in the Company
("Ordinary Shares" and such 1,026,515 Ordinary Shares being the "Issued
Shares") to Andrew Grimes, ex-CEO of the Company. The Issued Shares are in
exchange for Andrew Grimes relinquishing 1,830,000 options over Ordinary
Shares that had vested in accordance with the disclosures made at the time of
the Company's IPO. The Issued Shares are subject to lock-in arrangements
whereby Andrew Grimes will not be permitted to dispose of more than 25% of the
total Issued Shares in any 6 month period starting from the date of Admission
(as defined below).

Application has been made for the 1,026,515 new Ordinary Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission will occur
on or around 19 October 2022.

Following Admission, the Company's issued share capital will consist of
108,161,354 Ordinary Shares with one voting right each. The Company does not
hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary
Shares and voting rights in the Company will be 108,161,35. With effect from
Admission, this figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

The issue of shares to Andrew Grimes falls to be treated as a related party
transaction under Rule 13 of the AIM Rules for Companies due to the fact Mr
Grimes ceased to be a director of the Company within the last 12 months. The
independent directors of Gelion, being the current board in its entirety
consider, after having consulted with the Company's nominated adviser finnCap,
that the terms of the share issue to Mr Grimes are fair and reasonable insofar
as the Company's shareholders are concerned.

 

CONTACTS

 

 Gelion plc                                                    via Alma PR

 Hannah McCaughey, CEO

 Thomas Maschmeyer, Founder and Principal Technology Advisor

 finnCap Ltd (Nominated Adviser and Sole Broker)               +44 207 220 0500
 Corporate Finance

 Christopher Raggett

 Seamus Fricker

 Fergus Sullivan

 ECM

 Barney Hayward

 Alma PR (Financial PR Adviser)                                +44 20 3405 0205

 Justine James                                                 gelion@almapr.co.uk

 Josh Royston

 Hannah Campbell

 Will Ellis-Hancock

 

About Gelion plc

 

Gelion ("gel: ion") is a global renewable-energy storage innovator who
supports the transition to a sustainable economy while delivering value for
its customers and investors by designing and manufacturing the outstanding
zinc-bromide batteries for stationary energy storage and additives for mobile
battery applications.

 

Stationary storage - Gelion Endure: the sustainable energy storage solution

Gelion has developed patented technology for a breakthrough zinc-bromide
battery to support the transition to a carbon neutral economy by 2050. The
technology is a low-cost, robust, safe and recyclable alternative to
lithium-ion and lead-acid batteries making them ideally suited for the
expanding energy storage market.

 

Gelion's zinc-bromide gel battery uses non-flow technology, which is scalable,
can deliver 100% depth of discharge and has a higher temperature tolerance and
longer duration discharge than competing lead-acid and lithium-ion batteries.
With applications at grid scale as well as behind the meter C&I, the
battery solution is also highly adaptable for off-grid use.

 

Mobile storage - Tomorrow's transport systems will rely on mobile renewable
energy.

Gelion is also developing performance additives to improve the safety,
longevity and energy density of lithium-based batteries for mobile
applications. Using nanotechnology, Gelion's lithium-silicon lithium-sulfur
additives will help power the EV and e-aviation markets.

 

Gelion was spun-out from the University of Sydney in 2015 by Professor Thomas
Maschmeyer, Fellow of the Australian Academy of Science and recipient of the
Australian Prime Minister's Prize for Innovation 2020, that country's highest
honour for scientific entrepreneurship.

 

The Company's ESG credentials are strongly aligned to six of the UN's 17
Sustainable Development Goals.

 

Gelion's shares are listed on the AIM market of the London Stock Exchange and
it received the Green Economy Mark at IPO in November 2022 recognising its
commitment to energy transition.

 

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