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
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.
Enquiries:
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Invinity Energy Systems plc
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+44 (0)20 4551 0361
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Jonathan Marren, Chief Executive
Officer
Joe Worthington, Senior Director,
Corporate Affairs
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Canaccord Genuity (Nominated Adviser
and Joint Broker)
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+44 (0)20 7523 8000
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Henry Fitzgerald-O'Connor / Harry
Pardoe / Charlie Hammond
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VSA
Capital (AQSE Corporate Advisor, Financial Adviser and Joint
Broker)
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+44 (0)20 3005 5000
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Andrew Monk / Andrew Raca
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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.
