Grant of Options-INVINITY ENERGY SYSTEMS PLC

Grant of Options-INVINITY ENERGY SYSTEMS PLC

 

Grant of Options

Further to the Directors' Remuneration Report contained within Invinity's 2022 Annual Report and Accounts, published on 28 June 2023, the Board of Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF) announces that following the conclusion of a review of the Company's executive director remuneration policy by external remuneration consultant Alvarez & Marsal Tax LLP it has approved the award of options over the Company's shares to the following persons discharging managerial responsibilities ("PDMRs") under the Invinity Energy Systems 2018 Employee Share Option Plan (the "Options").

Options Granted

Vesting Date*

Total Options Held Following Grant

Total Options as % of Issued Share Capital

Larry Zulch

1,500,000

19 July 2026

1,500,000

0.79%

Jonathan Marren

1,250,000

19 July 2026

1,750,000

0.92%

Matthew Harper

1,250,000

19 July 2026

1,886,099

0.99%

 

*The Options will vest in full three years from the date of grant and are subject to a further holding period of one year post vesting.

 

The exercise price of the Options is 51.2p, being the closing price on the latest practicable date prior to this announcement.

 

 

1

Details of the person discharging managerial responsibilities

a)

Name

Lawrence Zulch

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

213800N2NKOTYUNRCU14

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

JE00BLR94N79

c)

Nature of the transaction

Award of Options

d)

Price(s) and volume(s)

 

Exercise Price(s)

Volume(s)

51.20 pence

1,500,000

  

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

19/7/23

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

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

213800N2NKOTYUNRCU14

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

JE00BLR94N79

c)

Nature of the transaction

Award of Options

d)

Price(s) and volume(s)

 

Exercise Price(s)

Volume(s)

51.20 pence

1,250,000

  

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

19/7/23

g)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities

a)

Name

Jonathan Marren

2

Reason for the notification

a)

Position/status

Chief Development Officer & Interim CFO

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

213800N2NKOTYUNRCU14

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

JE00BLR94N79

c)

Nature of the transaction

Award of Options

d)

Price(s) and volume(s)

 

Exercise Price(s)

Volume(s)

51.20 pence

1,250,000

  

e)

Aggregated information:  volume, Price

N/a

f)

Date of the transaction

19/7/23

g)

Place of the transaction

Outside a trading venue

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