Member Info for Stayingpatient

Ceres is up 17% today! ITM, may well, still be in 1st gear...plenty of more gears to shift into 😊

ITM is up over 9% on the US market today.

This is now working normally 👍

It's a bank holiday here, but ITM is up 4.82% on Tradegate this morning.

Does anyone know if the admin/tech team are in the process of fixing this?

Thanks in advance

Nothing to be concerned about...

Dr Simon Bourne, Chief Technology Officer of ITM Power, sold 872,738 ordinary shares today, 30 April 2026, at a price of £1.5744 per share.

Investegate

Investegate

While a sale of this magnitude can often cause concern, the company has explicitly stated that this transaction was primarily to satisfy tax liabilities resulting from the exercise of 1,326,417 share options.

Key Details for Shareholders

Nature of the Sale: The disposal was a "sell-to-cover" transaction, a common practice where executives sell a portion of newly acquired shares to pay the taxes triggered by the exercise of options.

Remaining Interest: Following the sale, Dr Bourne still holds a significant stake in the company:

Beneficial Shareholding: 656,570 shares (approximately 0.095% of issued share capital).

Remaining Options: 453,679 options.

Recent Activity: This transaction follows a period of heavy trading and high volatility for ITM Power. Earlier this week, the stock reached a market valuation near £1 billion following major announcements, including a partnership with Rheinmetall.

Company Outlook: In February 2026, the company raised its full-year revenue guidance to between £40 million and £43 million, citing improved project execution.

Investegate

Investegate

Contextual Performance

Metric Current Status (April 2026)

Share Price Volatile, recently trading around 140p–157p

Analyst Consensus Generally "Buy" or "Outperform" from major brokers like Morgan Stanley and RBC

Financial Position Net cash at year-end expected to be £170m–£175m

Conclusion: Shareholders typically view tax-related "sell-to-cover" events as routine rather than a lack of confidence in the company's future, especially as Dr Bourne remains a substantial shareholder and option holder.

To quote Bill Nighy from Love Actually ❤️..."I'm hoping for a late surge"! 👍

ITM is already up 4.76% on Tradegate 👍

@wookieemonster Thanks for that. My thoughts are, if they have started, that they may well be buying smaller parcels of shares to avoid the MM's stinging them as they buy back in...but, of course that would be most welcome by all here.

From what I can work out. Qube, Helikon & Voleon are still holding between them, short positions totalling just shy of £25.4 million shares. That's nearly £42 million pounds worth of stock at the current SP. They're required at certain thresholds to inform the FCA once they start unwinding or closing those short positions. I can't see that that has started happening yet, am I missing something?

Thanks in advance

It looks like the US/IRAN peace talks are back...or not 🤔

ITM is doing some heavy lifting today!

£1.50 reached & breached. There she blows!

It's early days, but, I'm up 60% since Tuesday of last week 💥

This reminds me of Spring 2023, when I bought into Rolls Royce at £1.50. It popped 20% on August 2023, half year results day. Our family went on holiday shortly after, and I'd check the SP periodically. It was like we'd boarded a locomotive. My wife & I were incredulous as each successive £ milestone markers were reached & breached. One year later the SP had trebled & the rest is history.

We're on board with ITM now, in fact, just a few days prior to the huge RNS re: ITM & Rheinmetall. So that was very fortuitous timing indeed. I'm aware that comparisons have been drawn with the recent Rolls Royce story, and I can see the case that's being made. De-risking through government investment, strengthening the leadership team, letting unprofitable contacts rinse out, having a strong cash position with no debt, securing an unbelievablely lucrative contract that could be "the goose that lays golden eggs" for decades to come & more contracts in the pipeline. All this in respect of a technology that the world is in need of, and which is only just approaching the foothills of it's coming ascendancy.

So, like many here, I'm looking forward to ITM's next season of growth. Let's hope it's explosive (no pun intended) and long term. And yes, Rolls Royce has been transformational for my family & many others. We're all looking for ITM to do the same. All the best everyone 👍

@Badland & @jds15 Agreed, the cost of getting through university now is eye wateringly staggering. To come out after 3 to 4 years with the thick end of £100k in debt must feel dreadful. I didn't go to uni, but both my daughters did, both in London. Fortunately, my wife & I were making good money, but we did have an overlap year where we were helping both of them each month, but it still wasn't easy.

I'm with you on learning an A.I. proof trade. I started out in 1979 as an apprentice toolmaker in an engineering firm. I qualified as a journeyman 4 years later and left 2 years after that. We were a newly married couple wanting to have a family, but there was no financial future in engineering at the time.

Through a friend I got into financial services and had an 18 year successful career. For more than 20 years I've been running my own building contracting business. Barn conversions, extensions, renovations, refurbishments, kitchens, bathrooms, landscaping etc. None of this work could be carried out by A.I. or robots.

The human body is a glorious and mind boggling example of biological engineering, unmatched by anything that science has been, and I venture to say will be able to create. So yes, if you are starting out in the working world, you could do a lot worse than learning how to make a living with your hands. Whether it be, as a joiner, a bricky, an electrician a plumber or plasterer, all of these trades are desperate for young new talent to join it's ranks. The pay is good and if your able to eventually set up on your own, the world's your oyster.

@Clued You raise a valid point there. ITM, may, at some point move from AIM to FTSE 250. As you wisely suggest, DYOR, even better perhaps, is seeking out professional advice.

As much as I appreciate these forums most of the time, there is the danger that they can become the digital equivalent of "a bloke in a pub told me over a pint m' lud"

Good to chat 👍

The legislation isn't necessarily straight forward and it changed on 6th April 2026. The effective relief was reduced from 100% to 50%.

@SatellitePro You're correct, that ISA's do not generally provide relief from IHT. However, certain AIM shares held within an ISA can be exempt from IHT, under the Business Property Relief part of the legislation. However, professional advice should always be sought, in order to be clear on the outcomes of any decisions made.

@Bachatanut You might find this helpful:

For inheritance tax (IHT) purposes, certain investments on the Alternative Investment Market (AIM) can qualify for Business Property Relief (BPR), which allows their value to be partially or fully exempt from tax upon death.

Current and Future Relief Rates

The level of relief depends on the date of death due to legislative changes announced in the 2024 Autumn Budget:

Deaths before 6 April 2026: Qualifying AIM shares can receive 100% relief, meaning they are effectively free from IHT.

Deaths on or after 6 April 2026: Relief for qualifying AIM shares is reduced to 50%. With a standard IHT rate of 40%, this results in an effective tax rate of 20% on these holdings.

Key Qualifying Conditions

To be eligible for BPR, several strict criteria must be met at the time of death:

Two-Year Holding Period: You must have owned the shares for at least two continuous years prior to death.

Active Trading Status: The company must be a trading business (e.g., manufacturing, retail). Companies mainly involved in "excluded" activities—such as dealing in land, buildings, or making/holding investments—do not qualify.

"Unquoted" Status: For tax purposes, AIM-listed shares are treated as unquoted, which is why they are eligible for this specific relief.

HMRC Assessment: Eligibility is not guaranteed in advance; HMRC assesses the company’s status only after the investor’s death.

Strategic Considerations

ISA Wrapper: AIM shares can be held within a Stocks and Shares ISA. This provides a unique "double tax break," shielding investments from Income Tax and Capital Gains Tax while also providing IHT relief.

Replacement Property Rules: If you sell qualifying AIM shares and reinvest the proceeds into another qualifying AIM stock within three years, the two-year "clock" generally does not restart, provided the total ownership period is met.

Spousal Transfers: Shares passed to a surviving spouse do not trigger IHT. If the spouse continues to hold them, they also inherit the deceased's ownership period, potentially qualifying for relief immediately upon their own death.