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.
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:
(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.
|
307,755,334
|
99.99
|
20,594
|
290,353
|
|
2
|
Subject
to the Scheme becoming effective and Resolution 1, the nominal
value of Ordinary Shares in New Invinity be reduced to 1
pence.
|
307,632,190
|
99.95
|
156,434
|
277,657
|
|
3
|
Subject
to the Scheme becoming effective and Resolutions 1 and 2, a general
meeting of New Invinity, other than an AGM, may be called on not
less than 14 clear days' notice.
|
305,206,830
|
99.16
|
2,570,878
|
288,573
|
*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.
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,
sign up to our monthly
Investor Newsletter here or
contact Investor Relations on via +44 (0)20 4551 0361 or
ir@invinity.com.