TIDMITM

RNS Number : 0334V

ITM Power PLC

28 November 2019

28 November 2019

ITM Power plc

("ITM Power" or "the Company")

Exercise of Options, Total Voting Rights

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that the following the Executive Directors have exercised options over ordinary shares of the Company:

 
            Executive                         Type of Option              Exercise Price              Number of Shares 
            Director                         to be exercised                                                over which 
                                                                                                                Option 
                                                                                                        is expected to 
                                                                                                          be exercised 
            Graham Cooley                                EMI                      18.75p                       640,000 
                               -----------------------------  --------------------------  ---------------------------- 
            Graham Cooley                         Unapproved                      18.75p                       360,000 
                               -----------------------------  --------------------------  ---------------------------- 
            Simon Bourne                                 EMI                      18.75p                       200,000 
                               -----------------------------  --------------------------  ---------------------------- 
            Rachel Smith                                 EMI                      24.25p                       100,000 
                               -----------------------------  --------------------------  ---------------------------- 
 

In addition, a further 50,000 options have been exercised by ITM Power staff deemed not to be Persons Discharging Management Responsibility ("PDMR") at an exercise price of 24.25p.

Following the exercise, the Executive Directors, deemed to be PDMRs, have the following interests in ordinary shares:

 
 Executive director         Position         Number of Shares  % of issued share 
                                                                    capital 
 Graham Cooley         CEO                          2,137,726              0.45% 
                      --------------------  -----------------  ----------------- 
 Simon Bourne          CTO                            549,462              0.12% 
                      --------------------  -----------------  ----------------- 
 Rachel Smith          Executive Director             180,886              0.04% 
                      --------------------  -----------------  ----------------- 
 

Following the exercise of options, the issued share capital of the Company comprises 472,662,527 ordinary shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 472,662,527 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of ITM Power under the FCA's Disclosure Guidance and Transparency Rules.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 29 November 2019.

For further information, please visit www.itm-power.com or contact:

 
 ITM Power plc                            (0)114 244 5111 
 Nicola Ham Edmonds, Company Secretary 
 
 Investec Bank plc (Nominated Adviser 
  and Broker)                             (0)20 7597 5970 
 Jeremy Ellis / Chris Sim 
 
 Tavistock (Financial PR and IR)          (0)20 7920 3150 
 Simon Hudson / Barney Hayward 
 

About ITM Power plc:

ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of green hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. In October 2019, the Company announced the completion of a GBP58.8 million fundraise, including a subscription by Linde of GBP38 million, together with the formation of a joint-venture with Linde to focus on delivering green hydrogen to large scale industrial projects worldwide. ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell's Rhineland refinery. ITM Power announced the lease of the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                    Graham Cooley 
      --------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------- 
 a)    Position/status                         Chief Executive Officer 
      --------------------------------------  ------------------------------------------ 
 b)    Initial notification                    Initial Notification 
        /Amendment 
      --------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------- 
 a)    Name                                    ITM Power plc 
      --------------------------------------  ------------------------------------------ 
 b)    LEI                                     21380042MB2JKZ6RRP12 
      --------------------------------------  ------------------------------------------ 
 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                      Options over ordinary shares of 5p each 
        financial instrument, 
        type of instrument 
      --------------------------------------  ------------------------------------------ 
 
       Identification code                     ISIN: GB00B0130H42 
      --------------------------------------  ------------------------------------------ 
 
 b)    Nature of the transaction               Exercise of Options[, Sale of Shares] 
      --------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               Price(s)             Volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               18.75p               1,000,000 
 -------------------------------------------  -------------------  --------------------- 
 d)    Aggregated information 
      --------------------------------------  ------------------------------------------ 
 
  - Aggregated volume                          1,000,000 
 -------------------------------------------  ------------------------------------------ 
 
  - Price                                      18.75p 
 -------------------------------------------  ------------------------------------------ 
 
 e)    Date of the transaction                 25 November 2019 
      --------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                Outside a trading venue 
      --------------------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                    Simon Bourne 
      --------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------- 
 a)    Position/status                         Chief Technical Officer 
      --------------------------------------  ------------------------------------------ 
 b)    Initial notification                    Initial Notification 
        /Amendment 
      --------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------- 
 a)    Name                                    ITM Power plc 
      --------------------------------------  ------------------------------------------ 
 b)    LEI                                     21380042MB2JKZ6RRP12 
      --------------------------------------  ------------------------------------------ 
 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                      Options over ordinary shares of 5p each 
        financial instrument, 
        type of instrument 
      --------------------------------------  ------------------------------------------ 
 
       Identification code                     ISIN: GB00B0130H42 
      --------------------------------------  ------------------------------------------ 
 
 b)    Nature of the transaction               Exercise of Options[, Sale of Shares] 
      --------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               Price(s)             Volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               18.75p               200,000 
 -------------------------------------------  -------------------  --------------------- 
 d)    Aggregated information 
      --------------------------------------  ------------------------------------------ 
 
  - Aggregated volume                          200,000 
 -------------------------------------------  ------------------------------------------ 
 
  - Price                                      18.75p 
 -------------------------------------------  ------------------------------------------ 
 
 e)    Date of the transaction                 25 November 2019 
      --------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                Outside a trading venue 
      --------------------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                    Rachel Smith 
      --------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      ---------------------------------------------------------------------------------- 
 a)    Position/status                         Executive Director 
      --------------------------------------  ------------------------------------------ 
 b)    Initial notification                    Initial Notification 
        /Amendment 
      --------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------------- 
 a)    Name                                    ITM Power plc 
      --------------------------------------  ------------------------------------------ 
 b)    LEI                                     21380042MB2JKZ6RRP12 
      --------------------------------------  ------------------------------------------ 
 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                      Options over ordinary shares of 5p each 
        financial instrument, 
        type of instrument 
      --------------------------------------  ------------------------------------------ 
 
       Identification code                     ISIN: GB00B0130H42 
      --------------------------------------  ------------------------------------------ 
 
 b)    Nature of the transaction               Exercise of Options[, Sale of Shares] 
      --------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               Price(s)             Volume(s) 
      --------------------------------------  -------------------  --------------------- 
                                               24.25p               100,000 
 -------------------------------------------  -------------------  --------------------- 
 d)    Aggregated information 
      --------------------------------------  ------------------------------------------ 
 
  - Aggregated volume                          100,000 
 -------------------------------------------  ------------------------------------------ 
 
  - Price                                      24.25p 
 -------------------------------------------  ------------------------------------------ 
 
 e)    Date of the transaction                 25 November 2019 
      --------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                Outside a trading venue 
      --------------------------------------  ------------------------------------------ 
 

-ends-

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