REG - Invinity Energy Sys - Results of General Meeting and Court Meeting

Invinity Energy SystemsAnnouncement

11/12/2024 16:00

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RNS Number : 7441P  Invinity Energy Systems PLC  11 December 2024

 

 

11 December 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Results of General Meeting and Court Meeting

 

Further to the announcement on 22 November 2024 that a circular containing
details of the Company's proposed redomiciliation from Jersey to the UK had
been sent to shareholders, Invinity Energy Systems plc (AIM: IES) (AQSE: IES)
(OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage,
announces that all resolutions pertaining to the Company's Jersey Court
Meeting, held today at 3.00 p.m. and the Company's General Meeting, held today
at 3.15 p.m. have been duly passed.

 

A Jersey Court Hearing to sanction the Scheme and the Scheme Reduction of
Capital is expected to take place on 8 January 2025. The Scheme is expected to
become effective on 9 January 2025. Further details on the proposed
redomiciliation can be found in the Scheme Document on the Company's website
here (https://invinity.com/investors/shareholder-documents/?utm_source=rns) .

 

The result of the poll voting (including all proxies) for both meetings are
included below:

 

Jersey Court Meeting

 

    RESOLUTION                                         VOTES FOR*               VOTES AGAINST
                                                       Number of votes  %       Number of votes
 1  To consider and approve the Scheme of Arrangement  305,638,654      99.99   29,759

 

*Any proxy appointments, which gave discretion to the Chairman, have been
included in the 'For' votes total.

 

General Meeting

 

    RESOLUTION                                                                       VOTES FOR*               VOTES AGAINST    WITHHELD
                                                                                     Number of votes  %       Number of votes  Number of votes
 1  For the purposes of the Scheme:                                                  307,755,334      99.99   20,594           290,353

    (i) to authorise the directors of the Company to take all such action as they
    may consider necessary or appropriate for carrying the Scheme into effect;

    (ii) to authorise the reduction of share capital of the Company, together with
    the issue of new shares in the Company to Invinity Energy Group Services
    Limited,

    a company in England and Wales ("New Invinity");

    (iii) to amend the articles of association of Invinity Energy Systems plc as
    set out in the Notice of General Meeting.
 2  Subject to the Scheme becoming effective and Resolution 1, the nominal value     307,632,190      99.95   156,434          277,657
    of Ordinary Shares in New Invinity be reduced to 1 pence.
 3  Subject to the Scheme becoming effective and Resolutions 1 and 2, a general      305,206,830      99.16   2,570,878        288,573
    meeting of New Invinity, other than an AGM, may be called on not less than 14
    clear days' notice.

 

*Any proxy appointments, which gave discretion to the Chairman, have been
included in the 'For' votes total.

 

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 Advisor, Financial Adviser and Joint Broker)  +44 (0)20 3005 5000
 Andrew Monk / Andrew Raca

 

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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