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
Granted
|
Final
vesting Date
|
New
Options as % of Issued Share Capital
|
*Maximum new Shares issued,
under cashless exercise of new Options, as a % of Issued Share Capital
at:
|
Total
Options Held Following Grant
|
Total
Options as % of Issued Share Capital
|
*Maximum new Shares issued,
under cashless exercise of Total Options,
as a % of Issued Share Capital at:
|
|
|
|
|
|
|
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
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
|
|
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
|
|
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
|
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,
sign up to our monthly
Investor Newsletter here or
contact Investor Relations on via +44 (0)20 4551 0361 or
ir@invinity.com.
