REG - Invinity Energy Sys - Grant of Options

Invinity Energy SystemsAnnouncement

30/01/2025 07:00

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RNS Number : 1924V  Invinity Energy Systems PLC  30 January 2025

 

 

30 January 2025

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Grant of Options

 

Further to the recent changes in the executive management team, the Board of
Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) announces
that it has approved the award of performance-linked options over the
Company's shares ("Options") to the Executive Directors.

 

The exercise price of the Options is 23.0p, being equal to the issue price for
the Company's last fundraise and will be granted across two tranches, each
representing 50% of the total award. The vesting conditions are as follows:

 

·    Tranche 1 will vest 1/3 per annum over 3 years, conditional on the
Company's share price being at or above 16.0p at the time of vesting.

·    Tranche 2 will vest on 30 January 2028, conditional on the Company's
share price being at or above 100.0p.

 

In setting this award of Options, the Board has considered the significant
equity fundraising completed by the Company in May 2024 at 23.0p per share.
The Board believes it aligns with the interests of shareholders to provide the
Executive Directors with the ability to benefit from share price appreciation
above that level. Given the prospects for the Company and its sector, the
Board has concluded that it is appropriate for the Executive Directors to be
rewarded should the share price exceed 100.0p, being significantly above both
the share price at the time of this announcement and the recent fundraising.

 

                  Role  Total new Options  Final vesting Date  New Options as % of Issued Share Capital  *Maximum new Shares issued, under cashless exercise of new Options, as a % of     Total Options Held Following Grant  Total Options as % of Issued Share Capital  *Maximum new Shares issued, under cashless exercise of Total Options, as a %

                                                                                Issued Share Capital at:
                                                                               of Issued Share Capital at:
                        Granted
                                                                                                         50.0p                                    100.0p                                                                                                                   50.0p                                    100.0p
 Jonathan Marren  CEO   6,782,609          30 Jan. 2028        1.54%                                     0.22%                                    0.63%                                    8,532,609                           1.94%                                       0.23%                                    0.73%
 Adam Howard      CFO   5,968,696          30 Jan. 2028        1.35%                                     0.19%                                    0.55%                                    5,968,696                           1.35%                                       0.19%                                    0.55%
 Matthew Harper   CCO   5,968,696          30 Jan. 2028        1.35%                                     0.19%                                    0.55%                                    7,854,795                           1.78%                                       0.42%                                    0.78%

 

*Presented figures represent the maximum percentage of the Company's current
Issued Share Capital that each PDMR would receive, at a share price of 50.0p
and 100.0p, were they to elect for a cashless exercise of options, adjusting
for option price consideration and expected tax rate. These percentages are
presented for illustrative purposes, actual results may vary.

 

The Options have been issued under the Invinity Energy Systems 2025 Employee
Share Option Plan.

 

PDMR notifications

The notifications at the bottom of this announcement, made in accordance with
the requirements of the EU Market Abuse Regulation as it applies in the UK,
provide further detail.

 

Neil O'Brien, Non-Executive Chairman at Invinity said:

 

"The performance of Invinity's team is critical to the Company's success and
this award is intended to more closely align share price performance with
executive remuneration. The targets set are ambitious but achievable if
Invinity can capture the opportunity ahead and build long term shareholder
value.

 

"The team have an extremely busy year ahead which will see Invinity deploy its
newly launched ENDURIUM product into new and existing markets across the world
as the Company continues to scale in line with growing global demand for
non-lithium forms of long duration energy storage"

 

 

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 Executive Officer

 Joe Worthington, Senior Director, Corporate Affairs

 Canaccord Genuity (Nominated Adviser and Joint Broker)                    +44 (0)20 7523 8000
 Henry Fitzgerald-O'Connor / Harry Pardoe / Charlie Hammond

 VSA Capital (AQSE Corporate Adviser, Financial Adviser and Joint Broker)  +44 (0)20 3005 5000
 Andrew Monk / Simon Barton

 

 1   Details of the person discharging managerial responsibilities
 a)  Name                                             Jonathan Marren
 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                                              213800XX6UAMF51CYM12
 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  GB00BS9F9D74
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      23.0 pence         6,782,609

 
 e)  Aggregated information:  volume, Price           N/a
 f)  Date of the transaction                          30 January 2025
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

30 January 2025

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                                  President & 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                                              213800XX6UAMF51CYM12
 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  GB00BS9F9D74
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      23.0 pence         5,968,696

 
 e)  Aggregated information:  volume, Price           N/A
 f)  Date of the transaction                          30 January 2025
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/A

f)

Date of the transaction

30 January 2025

g)

Place of the transaction

Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities
 a)  Name                                             Adam Howard
 2   Reason for the notification
 a)  Position/status                                  Chief Financial 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                                              213800XX6UAMF51CYM12
 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  GB00BS9F9D74
 c)  Nature of the transaction                        Award of Options
 d)  Price(s) and volume(s)

Exercise Price(s)  Volume(s)
                                                      23.0 pence         5,968,696

 
 e)  Aggregated information:  volume, Price           N/A
 f)  Date of the transaction                          30 January 2025
 g)  Place of the transaction                         Outside a trading venue

 

e)

Aggregated information:  volume, Price

N/A

f)

Date of the transaction

30 January 2025

g)

Place of the transaction

Outside a trading venue

 

 

 

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 (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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