ENVS Enova Regs

TIDMENV TIDMENVS

RNS Number : 2499J

Enova Systems, Inc.

03 August 2012

ENOVA SYSTEMS, INC

("Enova" or "the Company")

Grant of options

Enova Systems Inc. (NYSE MKT: ENA) (AIM: ENV) (AIM: ENVS), (the "Company") announces that on July 27 2012, the Board of Directors (the "Board") of Enova determined, as part of Enova's cost-saving measures, to terminate further cash compensation to the Board, effective as of 1 July 2012. The Board also approved the grant to each of Christopher Thunen, John Wallace and Edward Riddell, the nonemployee Directors of Enova, an option covering 440,000 shares of the Common Stock of Enova. However, the grant of such options was made conditional upon shareholder approval of an amendment to the 2006 Equity Compensation Plan to increase the number of shares covered thereby. Such options will only become exercisable as follows: as to 50% of the shares covered thereby upon the Board of Directors approving and Enova entering into a letter of intent or similar agreement contemplating a sale of Enova and, as to the remaining 50% of the shares covered thereby, upon consummation of a sale of Enova. The exercise price under each of such options is $0.07 cents per share. The Board also established certain cash incentive bonus awards for such non-employee directors, the payment of which is dependent upon the settlement of certain account receivables and account payables.

About Enova:

Enova Systems (http://www.enovasystems.com) is a leading supplier of efficient, environmentally friendly digital power components and systems products. The Company's core competencies are focused on the development and commercialization of power management and conversion systems for mobile applications. Enova applies unique 'enabling technologies' in the areas of alternative energy propulsion systems for light and heavy-duty vehicles as well as power conditioning and management systems for distributed generation systems. The Company develops, designs and produces non-invasive drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles in both the "new" and "retrofit" vehicle sales market. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com.

Additional Information:

This news release contains forward-looking statements relating to Enova Systems and its products that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will, " "should," "could," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology and statements about industry trends and Enova's future performance, operations and products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. These and other risks and uncertainties are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission, including but not limited to Enova's annual report on Form 10-K for the year ended December 31, 2011 and Form 10-Q for the quarterly period ended March 31, 2012.

For further information, please contact:

Enova Systems, Inc.

John Micek, President and Chief Executive Officer

Tel: + 1 310 527 2800

Daniel Stewart & Company plc

(Nominated Adviser & Broker)

Paul Shackleton/Jamie Barklem

Tel: + 44 (0) 2078 776 6550

This information is provided by RNS

The company news service from the London Stock Exchange

END

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