Last checked at 29 Oct 2019 11:55
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-