Last checked at 14 Dec 2021 13:53
14 December 2021
ITM Power PLC
(the "Company")
Block Listing Application
ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that a block listing application (the "Block Admission") has been made to the London Stock Exchange for up to 5,500,000 ordinary shares of £0.05 each (the "Block Listing Shares") to be admitted to trading on AIM ("Admission").
The ordinary shares that are being reserved under this block listing application will be issued by the Company, as required, in order to satisfy the exercise of share options and vested awards pursuant to the terms of the following share plan (the "Scheme"):
Scheme | No. of ordinary shares under block listing application |
ITM Power PLC Share Option Plan 2010 | 5,500,000 |
The Block Listing Shares will, upon issue, rank equally with all other ordinary shares of £0.05 each in the capital of the Company that are then in issue. The Block Listing Admission is expected to become effective on 17 December 2021.
For further information, please visit www.itm-power.com or contact:
ITM Power PLC
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James Collins, Investor Relations | +44 (0)114 551 1205 |
Justin Scarborough, Investor Relations | +44 (0)114 551 1080 |
Helen Baker, Company Secretary | +44 (0)114 244 5111 |
Investec Bank plc (Nominated Adviser & Broker)
| +44 (0)20 7597 5970 |
Jeremy Ellis / Chris Sim / Ben Griffiths |
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Tavistock (Financial PR and IR)
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Simon Hudson / Tim Pearson / David Cracknell | +44 (0)20 7920 3150 |
About ITM Power PLC:
ITM Power manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable 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 £58.8m fundraising, including an investment by Linde of £38m, together with the formation of a joint venture to deliver renewable hydrogen to large-scale industrial projects worldwide. In November 2020, ITM Power completed a £172m fundraising, including a £30m investment by Snam, one of the world's leading energy infrastructure operators. In January 2021, the Company received an order for the world's then largest PEM electrolyser of 24MW from Linde. In October 2021, the Company, with Linde, announced the deployment of a 100MW electrolyser at Shell's Rhineland refinery, following the start-up of an initial 10MW facility at the site. In November 2021, ITM Power raised £250m to accelerate expansion.
ITM Power operates from the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum, with the announced intention to build a second UK Gigafactory in Sheffield with a capacity of 1.5GW expected to be fully operational by the end of 2023. The Group's first international facility, expected to have a capacity of 2.5GW per annum, is intended to be operational by the end of 2024, bringing total Group capacity to 5GW per annum. Customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, GNVert, National Express, Toyota, Hyundai and Anglo American among others.
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