REG - AIM Invinity Energy Sys - Schedule One - Invinity Energy Systems plc

Invinity Energy SystemsAnnouncement

02/12/2024 12:01

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RNS Number : 4235O  AIM  02 December 2024

 

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:
 Invinity Energy Systems plc ("Invinity" or the "Company" or the "Group")

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :
 Current:

 3rd Floor IFC5

 Castle Street

 St. Helier

 Jersey

 JE2 3BY

 Proposed on Admission:

 New Broad Street House

 35 New Broad Street

 London

 England

 EC2M 1NH

 COUNTRY OF INCORPORATION:
 Current: Jersey

 Proposed: England and Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

 https://invinity.com/ (https://invinity.com/) aim-rule-26/

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:
 As announced by the Company on 22 November 2024, Invinity is seeking admission
 to AIM of a new parent company, incorporated in England and Wales, in order to
 redomicile the Group from Jersey to the UK ("Admission"). The Company is not
 raising further capital as part of the Admission.

 Invinity sells energy storage products to accelerate the global energy
 transition to renewable sources such as wind, solar and tidal power. As
 renewable energy is fundamentally intermittent, energy storage will
 increasingly be required to bridge the gaps across periods of darkness for
 solar, calm for wind turbines, and slack tide for tidal power.

 Invinity's batteries utilise Vanadium Flow Battery ("VFB") technology, a
 proven alternative to lithium-based batteries for stationary energy storage.
 Unlike lithium-based batteries, VFBs present no fire risk and can be cycled
 continuously over a 20 year operating lifespan. VFBs are also capable of
 delivering comparatively low-cost energy over their period of operation.

 To date Invinity has 75 MWh of batteries either already deployed or contracted
 for delivery, across 82 projects in 15 countries on five continents.

 The Company's next generation VFB product, codenamed "Mistral", which will
 bring the cost of energy down further still, is due for commercial release
 before the end of 2024.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):

 440,557,550 ordinary shares ("Ordinary Shares") will be admitted to AIM.

 On Admission, which is expected to occur on 9 January 2025, the Company's
 Ordinary Shares are expected to have a nominal value at or marginally below
 the prevailing share price prior to Admission. On 15 January 2025, it is
 expected that a capital reduction will become effective, which will reduce the
 nominal value of the Company's Ordinary Shares to £0.01 each.

 These changes to nominal value are not expected to have any impact on the
 market value of the Company's Ordinary Shares.

 No Ordinary Shares are held in treasury and there are no restrictions on the
 transfer of Ordinary Shares.

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:

 No capital to be raised on Admission.

 Anticipated market capitalisation on Admission: £50.1 million

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 43.7%

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

 The Company's Ordinary Shares are also traded on the Apex segment of the Aquis
 Stock Exchange (AQSE) Growth Market (AQSE:IES) and trade on the OTCQX Best
 Market (under the symbol "IESVF")

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):

 Neil Christopher O'Brien (Non-executive Chairman)

 Jonathan Anthony Frank Marren (Chief Executive Officer)

 Adam James Howard (Chief Financial Officer)*

 Matthew Albert MacLennan Harper (Chief Commercial Officer)

 Rajat  Kohli (Senior Independent non-executive Director)

 Michael James Wills Farrow (Non-executive Director)

 Kristina Ann Peterson (Non-executive Director)

 *Proposed Director - appointed to the Board effective 9 December 2024

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):

 Significant Shareholders before and after Admission:

Name                          Percentage of Ordinary Shares held
 National Wealth Fund          24.7%
 Schroders plc                 18.3%
 Premier Miton                 4.3%
 Janus Henderson               3.7%
 Herald Investment Management  3.7%

 

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:

 None

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:

 i)          31 December

 ii)         30 June 2024 - Existing issuer re-admitting to AIM. The
 Company's historical financial information can be found on the Company's
 website: https://invinity.com/investors/financial-reports-calendar/
 (https://invinity.com/investors/financial-reports-calendar/)

 iii)         The Company must publish:

 a.    Annual accounts to 31 December 2024, by 30 June 2025 (pursuant to AIM
 Rule 19)

 b.    Interim results to 30 June 2025, by 30 September 2025 (pursuant to
 AIM Rule 18)

 c.    Annual accounts to 31 December 2025, by 30 June 2026 (pursuant to AIM
 Rule 19)

 EXPECTED ADMISSION DATE:

 9 January 2025

 NAME AND ADDRESS OF NOMINATED ADVISER:

 Canaccord Genuity Limited

 88 Wood Street

 London

 EC2V 7QR

 NAME AND ADDRESS OF BROKER:

 Canaccord Genuity Limited

 88 Wood Street

 London

 EC2V 7QR

 VSA Capital Limited

 Park House

 16-18 Finsbury Circus

 London

 EC2M 7EB

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:

 N/a

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 The Quoted Companies Alliance Corporate Governance Code (2018)

 DATE OF NOTIFICATION:

 2 December 2024

 NEW/ UPDATE:

 New

 QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

 THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES
 HAVE BEEN TRADED:

 AIM Market of the London Stock Exchange

 THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

 25 April 2006

 CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS
 ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
 SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY
 BREACH:

 The Company has adhered to the legal and regulatory requirements involved in
 having its securities traded.

 AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE
 APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING
 ITS SECURITIES SO TRADED) ARE AVAILABLE:

 https://invinity.com/ (https://invinity.com/)

 DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE
 OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

 Invinity is pursuing a two-part market-engagement strategy that relies on
 partners for regionally-appropriate functions and capabilities, thereby
 reducing capital requirements as the Company scales. In the core markets of
 the UK and North America, the Group will work with partners to offer a full
 set of capabilities, including commercial engagement, product delivery, and
 after-sales support, whereas outside the core markets Invinity will focus on
 identifying, engaging with, and supporting partners capable of providing the
 entire set of services the Company provides directly in North America and the
 UK.

 The Company's capex-light manufacturing strategy also relies on partners
 except for production of Invinity's cell stack which is currently produced by
 the Group in leased facilities in Bathgate, UK, and Vancouver, Canada.
 Invinity has expanded its manufacturing capabilities through the transition to
 a larger manufacturing partner, Baojia, who is an existing strategic investor
 in Invinity. Baojia is currently delivering components to

 Invinity's factories in North America and the United Kingdom and completed
 products to Invinity customers in the Asia-Pacific region. Invinity has also
 increased the capacity of its own facilities, most recently in the UK through
 the opening of an additional manufacturing facility in Scotland.

 Outside of the core markets of UK and North America, the Company's
 manufacturing strategy is based on a licence and royalty model that leverages
 the capabilities of Invinity's market-engagement partners. When appropriate,
 Invinity grants its partner a licence to assemble the Company's batteries in
 region, reducing working-capital requirements by providing direct access to
 the Company's supply chain and generating gross margin for the Company in the
 form of royalty payments made by the partner to Invinity. The Company supplies
 the required cell stacks, manufacturing them at its own facilities, thereby
 retaining and protecting this core intellectual property ("IP"). A prominent
 example of the successful implementation of this model can be seen in Taiwan
 where Invinity signed a strategic manufacturing agreement with the Company's
 strategic partner Everdura, announced 26 February 2024.

 Invinity announced a £25m strategic investment from the National Wealth Fund
 ("NWF") (formerly known as UK Infrastructure Bank) in May 2024. As well as
 financing the expansion of UK operations, this capital can also be used by
 Invinity to invest into UK long duration energy storage projects which utilise
 the Company's vanadium flow batteries.

 The Company is on track to launch its next generation product, codenamed
 "Mistral" before the end of 2024. This product is expected to drive improved
 margins for Invinity in the future and its launch marks an important milestone
 on Invinity's pathway to profitability.

 A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF
 THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD
 FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

 -     £57m Fundraise - May 2024

 On 24 May 2024, the Company completed a £57.4m equity fundraising by way of a
 Placing, Subscription and an Open Offer. Funds were raised to i) provide
 working capital, ii) invest in Long Duration Energy Storage projects, iii)
 accelerate manufacturing and deployment of the Company's next-generation
 battery, iv) invest in the Company's manufacturing facilities, and v)
 strengthen Invinity's balance sheet. Further information on the fundraise can
 be found in the shareholder circular dated 3 May 2024 and available on the
 Company's website, and in announcements published via a Regulated News Service
 between 1 May 2024 and 24 May 2024.

 -     Trading Update - September 2024

 On 6 September 2024, the Company published a trading update announcement that
 adjusted expectations for the Company's financial performance in the six
 months to 30 June 2024 and for the year ending 31 December 2024. Further
 information on this trading update can be found on in the Company's 6
 September 2024 Regulated News Service announcement.

 A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT
 THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT
 LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

 The Directors have no reason to believe that the working capital available to
 the Group will

 be insufficient for at least 12 months from the date of its Admission.

 DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:
 None

 A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
 SECURITIES:

 Following Admission, settlement of Invinity's shares will continue to be
 through the CREST system for dealings in Ordinary Shares held in
 uncertificated form.

 CREST is a paperless settlement system enabling securities to be evidenced
 otherwise than by certificate and transferred otherwise than by written
 instrument in accordance with the CREST Regulations. The Articles permit the
 holding of Ordinary Shares in uncertificated form in accordance with the CREST
 Regulations. CREST is a voluntary system and holders of Ordinary Shares who
 wish to receive and retain share certificates will be able to do so.

 A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
 SECURITIES:

 https://invinity.com/ (https://invinity.com/)

 INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT
 CURRENTLY PUBLIC:

 On 22 November 2024, the Company published a shareholder circular in relation
 to the proposed redomiciliation of the Company from Jersey to the UK ("the
 Circular").

 This Circular can be accessed on the Company's website through the following
 link: https://invinity.com/investors/shareholder-documents/

 Included in this Circular is all information equivalent to that required for
 an admission document which is not currently public.

 The Circular includes, inter alia, the following:

 -     The reasoning behind the redomicile and the key steps required to
 achieve it;

 -     Material contracts;

 -     Risk Factors;

 -     A summary of the changes to the Company's constitution;

 -     A reconciliation of the differences in corporation and tax law
 between UK and Jersey;

 -     Information on each class of share capital; and

 -     Information relating to each Director as required by Schedule 2(g)
 of the AIM Rules for Companies.

 The Company's historical financial information can be accessed via the
 Company's website.

 A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT
 AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS
 PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE.  THE ACCOUNTS MUST
 BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE
 19:

 https://invinity.com/investors/shareholder-documents/
 (https://invinity.com/investors/shareholder-documents/)

 THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

 None

 

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

 

None

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

 

i)          31 December

ii)         30 June 2024 - Existing issuer re-admitting to AIM. The
Company's historical financial information can be found on the Company's
website: https://invinity.com/investors/financial-reports-calendar/
(https://invinity.com/investors/financial-reports-calendar/)

iii)         The Company must publish:

a.    Annual accounts to 31 December 2024, by 30 June 2025 (pursuant to AIM
Rule 19)

b.    Interim results to 30 June 2025, by 30 September 2025 (pursuant to
AIM Rule 18)

c.    Annual accounts to 31 December 2025, by 30 June 2026 (pursuant to AIM
Rule 19)

 

EXPECTED ADMISSION DATE:

 

9 January 2025

 

NAME AND ADDRESS OF NOMINATED ADVISER:

 

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

 

NAME AND ADDRESS OF BROKER:

 

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

 

VSA Capital Limited

Park House

16-18 Finsbury Circus

London

EC2M 7EB

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

 

N/a

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 

The Quoted Companies Alliance Corporate Governance Code (2018)

 

DATE OF NOTIFICATION:

 

2 December 2024

 

NEW/ UPDATE:

 

New

 

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES
HAVE BEEN TRADED:

 

AIM Market of the London Stock Exchange

 

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

 

25 April 2006

 

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS
ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY
BREACH:

 

 

The Company has adhered to the legal and regulatory requirements involved in
having its securities traded.

 

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE
APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING
ITS SECURITIES SO TRADED) ARE AVAILABLE:

 

https://invinity.com/ (https://invinity.com/)

 

 

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE
OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

 

Invinity is pursuing a two-part market-engagement strategy that relies on
partners for regionally-appropriate functions and capabilities, thereby
reducing capital requirements as the Company scales. In the core markets of
the UK and North America, the Group will work with partners to offer a full
set of capabilities, including commercial engagement, product delivery, and
after-sales support, whereas outside the core markets Invinity will focus on
identifying, engaging with, and supporting partners capable of providing the
entire set of services the Company provides directly in North America and the
UK.

 

The Company's capex-light manufacturing strategy also relies on partners
except for production of Invinity's cell stack which is currently produced by
the Group in leased facilities in Bathgate, UK, and Vancouver, Canada.
Invinity has expanded its manufacturing capabilities through the transition to
a larger manufacturing partner, Baojia, who is an existing strategic investor
in Invinity. Baojia is currently delivering components to

Invinity's factories in North America and the United Kingdom and completed
products to Invinity customers in the Asia-Pacific region. Invinity has also
increased the capacity of its own facilities, most recently in the UK through
the opening of an additional manufacturing facility in Scotland.

 

Outside of the core markets of UK and North America, the Company's
manufacturing strategy is based on a licence and royalty model that leverages
the capabilities of Invinity's market-engagement partners. When appropriate,
Invinity grants its partner a licence to assemble the Company's batteries in
region, reducing working-capital requirements by providing direct access to
the Company's supply chain and generating gross margin for the Company in the
form of royalty payments made by the partner to Invinity. The Company supplies
the required cell stacks, manufacturing them at its own facilities, thereby
retaining and protecting this core intellectual property ("IP"). A prominent
example of the successful implementation of this model can be seen in Taiwan
where Invinity signed a strategic manufacturing agreement with the Company's
strategic partner Everdura, announced 26 February 2024.

 

Invinity announced a £25m strategic investment from the National Wealth Fund
("NWF") (formerly known as UK Infrastructure Bank) in May 2024. As well as
financing the expansion of UK operations, this capital can also be used by
Invinity to invest into UK long duration energy storage projects which utilise
the Company's vanadium flow batteries.

 

The Company is on track to launch its next generation product, codenamed
"Mistral" before the end of 2024. This product is expected to drive improved
margins for Invinity in the future and its launch marks an important milestone
on Invinity's pathway to profitability.

 

 

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF
THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD
FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

 

-     £57m Fundraise - May 2024

On 24 May 2024, the Company completed a £57.4m equity fundraising by way of a
Placing, Subscription and an Open Offer. Funds were raised to i) provide
working capital, ii) invest in Long Duration Energy Storage projects, iii)
accelerate manufacturing and deployment of the Company's next-generation
battery, iv) invest in the Company's manufacturing facilities, and v)
strengthen Invinity's balance sheet. Further information on the fundraise can
be found in the shareholder circular dated 3 May 2024 and available on the
Company's website, and in announcements published via a Regulated News Service
between 1 May 2024 and 24 May 2024.

-     Trading Update - September 2024

On 6 September 2024, the Company published a trading update announcement that
adjusted expectations for the Company's financial performance in the six
months to 30 June 2024 and for the year ending 31 December 2024. Further
information on this trading update can be found on in the Company's 6
September 2024 Regulated News Service announcement.

 

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT
THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT
LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

 

The Directors have no reason to believe that the working capital available to
the Group will

be insufficient for at least 12 months from the date of its Admission.

 

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

None

 

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
SECURITIES:

 

Following Admission, settlement of Invinity's shares will continue to be
through the CREST system for dealings in Ordinary Shares held in
uncertificated form.

 

CREST is a paperless settlement system enabling securities to be evidenced
otherwise than by certificate and transferred otherwise than by written
instrument in accordance with the CREST Regulations. The Articles permit the
holding of Ordinary Shares in uncertificated form in accordance with the CREST
Regulations. CREST is a voluntary system and holders of Ordinary Shares who
wish to receive and retain share certificates will be able to do so.

 

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
SECURITIES:

 

https://invinity.com/ (https://invinity.com/)

 

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT
CURRENTLY PUBLIC:

 

On 22 November 2024, the Company published a shareholder circular in relation
to the proposed redomiciliation of the Company from Jersey to the UK ("the
Circular").

 

This Circular can be accessed on the Company's website through the following
link: https://invinity.com/investors/shareholder-documents/

 

Included in this Circular is all information equivalent to that required for
an admission document which is not currently public.

 

The Circular includes, inter alia, the following:

 

-     The reasoning behind the redomicile and the key steps required to
achieve it;

-     Material contracts;

-     Risk Factors;

-     A summary of the changes to the Company's constitution;

-     A reconciliation of the differences in corporation and tax law
between UK and Jersey;

-     Information on each class of share capital; and

-     Information relating to each Director as required by Schedule 2(g)
of the AIM Rules for Companies.

 

The Company's historical financial information can be accessed via the
Company's website.

 

 

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT
AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS
PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE.  THE ACCOUNTS MUST
BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE
19:

 

https://invinity.com/investors/shareholder-documents/
(https://invinity.com/investors/shareholder-documents/)

 

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

 

None

 

 

 

 

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