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Invinity Energy Systems ( (GB:IES) ) has provided an announcement.
Invinity Energy Systems has announced the successful sanctioning of its Reduction of Capital by the English Courts, which will reduce the nominal value of the company’s ordinary shares from 14 pence to 1 pence. This move is set to create distributable reserves of over £57 million to support future dividends, though the company currently has no plans for immediate dividend payments. The market value of shares is expected to remain unaffected, and the company’s cash balance will not change.
More about Invinity Energy Systems
Invinity Energy Systems plc manufactures vanadium flow batteries for large-scale, high-throughput energy storage needs of business, industry, and electrical networks. Known for their durability and efficiency, Invinity’s batteries are used globally in renewable energy applications. The company operates in the UK, Canada, USA, China, and Australia and was formed in 2020 through a merger between redT energy plc and Avalon Battery Corporation.
YTD Price Performance: -3.12%
Average Trading Volume: 880,224
Technical Sentiment Consensus Rating: Buy
Find detailed analytics on IES stock on TipRanks’ Stock Analysis page.
