TIDMITM
RNS Number : 0896X
ITM Power PLC
16 February 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN ITM POWER PLC OR ANY OTHER ENTITY
IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS
DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF ITM POWER
PLC.
This announcement contains inside information
16 February 2017
ITM Power plc
("ITM Power" or "the Company")
Result of General Meeting
and
Total Voting Rights
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce that at the General Meeting held earlier
today to approve, inter alia, the Firm Placing to raise GBP5.7
million, announced on 26 January 2017, all resolutions were duly
passed. As a result, the Firm Placing has successfully
completed.
Application has been made for the 33,720,203 Firm Placing shares
described in the circular dated 27 January 2017 ("Firm Placed
Shares") to be admitted to trading on AIM at 8.00 a.m. on 17
February 2017 ("Admission").
Directors' Interests
The interests (all of which are beneficial unless stated
otherwise) of the Directors and their immediate families and of
persons connected with them in the Existing Issued Share Capital
and the existence of which is known to, or could with reasonable
due diligence be ascertained by, any Director as at the Latest
Practicable Date and as they are expected to be upon Admission are
as follows:
At the Latest
Practicable Date On Admission
Director Percentage Percentage
Number of Existing Number of Enlarged
of Ordinary Issued of Ordinary Share Capital
Shares Share Capital Shares
Professor Roger
Putnam 27,129 0.01 27,129 0.01
Dr Graham Cooley 811,256 0.37 987,726 0.39
Dr Simon Bourne 326,830 0.15 326,830 0.13
Dr Rachel Smith 80,886 0.04 80,886 0.03
Lord Roger Freeman 5,000 0.002 5,000 0.002
Peter Hargreaves 22,908,643 10.56 22,908,643 9.14
Sir Roger Bone 67,000 0.03 67,000 0.03
Robert Pendlebury* 19,217,929 8.86 30,982,634 12.36
*At the Latest Practicable Date, Robert Pendlebury held 12,269
Ordinary Shares. Robert Pendlebury represents J.C.B. Research (who
at the Latest Practicable Date held 19,205,660 Existing Ordinary
Shares) on the Board. On Admission, Robert Pendlebury will hold
12,269 Ordinary Shares. J.C.B. Research, on Admission, will hold
30,970,365 Ordinary Shares.
Total Voting Rights
Following Admission, the total number of ordinary shares and
voting rights in the Company will be 250,613,176. The Company does
not hold any shares in treasury.
The above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
Capitalised terms used and not defined in this announcement have
the meanings given to them in the Circular relating to the Firm
Placing dated 27 January 2017.
For further information please visit www.itm-power.com or
contact:
ITM Power plc +44 (0)114 244
Graham Cooley, CEO 5111
Zeus Capital
Andrew Jones / Jonathan Sharp +44 (0)20 3829
/ Hugh Kingsmill Moore 5000
Tavistock +44 (0)20 7920
Simon Hudson / James Collins 3150
About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions
which are rapid response and high pressure that meet the
requirements for grid balancing and energy storage services, and
for the production of clean fuel for transport, renewable heat and
chemicals. ITM Power was admitted to the AIM market of the London
Stock Exchange in 2004. The Group currently has GBP16.78m of
projects under contract and a further GBP1.36m in the later stages
of negotiation (GBP18.14m in total).
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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