TIDMITM

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 GBP0.05 each in the capital of the Company to the Executive Directors as follows:

 
 Executive director    Number of options   Existing Options   Total Options 
                                 granted 
 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               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          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               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          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               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          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               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          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 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.

-ends-

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