LONDON (ShareCast) - (Sharecast News) - Energy storage manufacturer Invinity Energy Systems confirmed on Wednesday that its redomiciliation process to the UK had been sanctioned by the Jersey Court.
The AIM-traded firm said the scheme, establishing a new parent company incorporated in England and Wales, would become effective on 9 January.

From that date, ordinary shares in the new UK parent company, also named Invinity Energy Systems, would commence trading on AIM and AQSE at 0800 GMT.

Shares held in uncertificated form would be credited to CREST accounts at the same time, while share certificates for certificated holdings would be dispatched within 14 days.

The reorganisation, including an associated capital reduction, was not expected to affect the market value of the company's shares.

Invinity clarified the total number of shares to be admitted to AIM as 441,922,559,, comprising 440,561,739 issued ordinary shares and 1,360,820 shares available under a blocklisting facility.

On AQSE, 440,561,739 shares would be admitted for trading.

The redomiciliation was designed to streamline the company's operations and governance, aligning its corporate structure with its operational base and facilitating shareholder engagement.

At 1335 GMT, shares in Invinity Energy Systems were down 3.35% at 18.36p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE