REG - Invinity Energy Sys - Grant of Options

Invinity Energy SystemsAnnouncement

20/07/2023 07:00

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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 Held Following Grant  Total Options as % of Issued 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/ Amendment                  Initial notification
 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 the financial instrument          Options over ordinary shares of €0.01 each ("Ordinary Shares")
 b)  Identification code of the Financial Instrument  JE00BLR94N79
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      51.20 pence        1,500,000

 
 e)  Aggregated information:  volume, Price           N/a
 f)  Date of the transaction                          19/7/23
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/a

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/ Amendment                  Initial notification
 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 the financial instrument          Options over ordinary shares of €0.01 each ("Ordinary Shares")
 b)  Identification code of the Financial Instrument  JE00BLR94N79
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      51.20 pence        1,250,000

 
 e)  Aggregated information:  volume, Price           N/a
 f)  Date of the transaction                          19/7/23
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/a

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/ Amendment                  Initial notification
 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 the financial instrument          Options over ordinary shares of €0.01 each ("Ordinary Shares")
 b)  Identification code of the Financial Instrument  JE00BLR94N79
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      51.20 pence        1,250,000

 
 e)  Aggregated information:  volume, Price           N/a
 f)  Date of the transaction                          19/7/23
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/a

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
(https://invinity.com/newsletter/?utm_source=iesrns)

 

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 (mailto: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 (https://invinity.com/?utm_source=rns) ,
sign up to our monthly Investor Newsletter here
(https://invinity.com/newsletter/?utm_source=iesrns) or contact Investor
Relations on via +44 (0)20 4551 0361 or ir@invinity.com
(mailto:ir@invinity.com)

 

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