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Award of Options

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RNS Number : 5016R
ITM Power PLC
29 October 2019
 

29 October 2019

 

ITM Power plc

("ITM Power" or "the Company")

 

Award of Options

 

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that on 24 October 2019, the Remuneration Committee of the Company approved the awards of options over ordinary shares of par value £0.05 each in the capital of the Company to the Executive Directors as follows:

 

Executive director

Number of options granted

Existing Options

Total Options

Graham Cooley

307,500

6,000,000

6,307,500

Simon Bourne

159,750

 2,700,000

2,859,750

Rachel Smith

72,000

1,350,000

1,422,000

Andy Allen

47,250

1,050,000

1,097,250

 

All options are being issued with an exercise price of 48p, being the mid closing price on the day of the award which was made after trading hours. Options vest on the third anniversary of the grant award and have a ten year expiry from the date when the options were granted.

 

The Executive Directors currently have the following interests in ordinary shares in addition to the options set out above:

 

Executive director

Position

Number of Shares

% of issued share capital

Graham Cooley

CEO

1,137,726

0.24%

Simon Bourne

CTO

349,462

0.07%

Rachel Smith

Executive Director

80,886

0.02%

Andy Allen

Finance Director

25,000

0.01%

 

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


 



 

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 /Amendment

Initial Notification

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 financial instrument, type of instrument

Options over ordinary shares of 5p each

 

 

Identification code

ISIN: GB00B0130H42

 

 

b)

Nature of the transaction

Issue of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

Nil cost option

307,500

d)

 

Aggregated information

 

 

 

- Aggregated volume

307,500

 

 

- Price

NA

 

 

e)

Date of the transaction

24 October 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 /Amendment

Initial Notification

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 financial instrument, type of instrument

Options over ordinary shares of 5p each

 

 

Identification code

ISIN: GB00B0130H42

 

 

b)

Nature of the transaction

Issue of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

Nil cost option

159,750

d)

 

Aggregated information

 

 

 

- Aggregated volume

159,750

 

 

- Price

NA

 

 

e)

Date of the transaction

24 October 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 /Amendment

Initial Notification

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 financial instrument, type of instrument

Options over ordinary shares of 5p each

 

 

Identification code

ISIN: GB00B0130H42

 

 

b)

Nature of the transaction

Issue of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

Nil cost option

72,000

d)

 

Aggregated information

 

 

 

- Aggregated volume

72,000

 

 

- Price

NA

 

 

e)

Date of the transaction

24 October 2019

f)

Place of the transaction

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andy Allen

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification /Amendment

Initial Notification

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 financial instrument, type of instrument

Options over ordinary shares of 5p each

 

 

Identification code

ISIN: GB00B0130H42

 

 

b)

Nature of the transaction

Issue of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

Nil cost option

47,250

d)

 

Aggregated information

 

 

 

- Aggregated volume

47,250

 

 

- Price

NA

 

 

e)

Date of the transaction

24 October 2019

f)

Place of the transaction

Outside a trading venue

 

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 £58.8 million fundraise, including a subscription by Linde of £38 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.

 

-ends-


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END
 
 
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