REG - Invinity Energy Sys - Results of Open Offer and General Meeting

Invinity Energy SystemsAnnouncement

22/05/2024 13:00

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RNS Number : 5004P  Invinity Energy Systems PLC  22 May 2024

The information contained within this Announcement is deemed by Invinity
Energy Systems plc to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue
of the European Union (Withdrawal) Act 2018 ("MAR").

 

 

22 May 2024

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Results of Open Offer and General Meeting

 

Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy storage, is pleased to announce
the results of the Open Offer, which closed for acceptances at 11.00 a.m. on
21 May 2024. The Company has received valid acceptances from Qualifying
Shareholders in respect of 6,011,983 Open Offer Shares, representing
approximately 21 per cent. of the 28,660,096 new Ordinary Shares available
under the Open Offer, therefore raising an additional £1,382,756 of proceeds
for the Company.

 

The Board also announces that the resolution was passed at the Company's
General Meeting, held earlier today. The result of the poll voting (including
all proxies) is detailed below.

 

    RESOLUTION                                                                       VOTES FOR*               VOTES AGAINST    WITHHELD
                                                                                     Number of votes  %       Number of votes  Number of votes
 1  That the Directors of the Company be empowered to allot the Placing Shares,      101,533,576      97.96%  2,113,587        29,469
    Subscription Shares, Open Offer Shares and any Ordinary Shares placed pursuant
    to the Placing Option as if the pre-emption provisions in the Articles did not
    apply.

 

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

 

 

Admission

 

Applications have been made to the London Stock Exchange and to the Aquis
Stock Exchange for 6,011,983 Open Offer Shares, together with 121,739,130
Placing Shares, and 121,739,130 Subscription Shares to be admitted to trading
on AIM and AQSE on 24 May 2024.

 

A further announcement will be made in due course with details of any new
Ordinary Shares to be issued and admitted pursuant to the Placing Option,
which may close at any time up until Admission, and with the enlarged number
of Ordinary Shares in issue following completion of the Fundraising.

 

 

Other than where defined, capitalised terms in this announcement have the
meanings given to them in the Announcement released by the Company at 4.44
p.m. (London time) on 1 May 2024.

 

 

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 Financial Officer and Chief Development Officer

 Joe Worthington, Director of Communications

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

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

 Tavistock (Financial PR Advisor)                                          +44 (0)20 7920 3150
 Simon Hudson / Saskia Sizen / Adam Baynes                                 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 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 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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