REG - Invinity Energy Sys - Reduction of Capital Sanctioned

Invinity Energy SystemsAnnouncement

14/01/2025 12:30

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RNS Number : 2915T  Invinity Energy Systems PLC  14 January 2025

 

 

14 January 2025

Invinity Energy Systems plc

 

("Invinity" or the "Company")

 

Reduction of Capital Sanctioned

 

Further to the announcement on 9 January 2025, Invinity Energy Systems plc
(AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of
utility-grade energy storage, is pleased to announce that the English Courts
have now sanctioned the Reduction of Capital, as described in the Circular
(https://invinity.com/investors/shareholder-documents/) published by the
Company on 22 November 2024.

 

The Reduction of Capital has the effect of reducing the nominal value of the
Company's ordinary shares from 14 pence per ordinary share to 1 pence per
ordinary share. The Reduction of Capital will become effective on registration
of the Court Order and accompanying statement of capital by the Registrar of
Companies, expected to be on or around 15 January 2025. The number of shares
admitted to trading will be unchanged by the Reduction of Capital.

 

The Reduction of Capital will generate distributable reserves of
£57,273,026.07 to support the payment of future dividends. The Company,
however, does not plan on making dividend payments in the foreseeable future
and there can be no assurance as to the level of future dividends.

 

As previously stated, the Reduction of Capital will have no impact on the
Company's cash balance and the change to the nominal value is not expected to
have any impact on the market value of the Company's ordinary shares.

 

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the Circular published by the Company on 22 November
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 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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