LONDON - Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a key player in utility-grade energy storage, confirmed today that its shareholders have voted in favor of the company's plan to redomicile from Jersey to the UK. The decision came through a series of resolutions passed during the Jersey Court Meeting and the subsequent General Meeting, both held today.
The poll results showed overwhelming support for the Scheme of Arrangement, with 99.99% of votes cast in favor at the Jersey Court Meeting. Similarly, resolutions at the General Meeting, which included authorization for directors to carry out the Scheme, reduction of share capital, and amendments to the articles of association, received nearly unanimous support.
The final step in the process, a Jersey Court Hearing to sanction the Scheme and the Scheme Reduction of Capital, is scheduled for January 8, 2025. If approved, the Scheme is expected to become effective the following day.
The redomiciliation involves issuing new shares in the company to Invinity Energy Group Services Limited, a company based in England and Wales, and reducing the nominal value of Ordinary Shares in the new entity to 1 pence. Additionally, a provision was approved to allow general meetings, other than the Annual General Meeting (AGM), to be called with not less than 14 clear days' notice.
The precise details of the redomiciliation and the impact on the company's operations and shareholder structure are laid out in the Scheme Document available on Invinity's website.
This strategic move by Invinity is part of the company's broader efforts to streamline its corporate structure and operations. The information regarding the redomiciliation and the results of the meetings are based on a press release statement from the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.