Last checked at 26 Jan 2017 09:36
26 January 2017
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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
ITM Power plc
("ITM Power", "the Group" or the "Company")
Close of accelerated bookbuild - successful fundraise of £5.7 million at 17p per share
ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that, further to the announcement made earlier today entitled "Proposed Accelerated Bookbuild to raise a minimum of £5.5 million", the accelerated bookbuild process has now closed. The accelerated bookbuild was successful and the Company has conditionally raised a total of £5.7 million, subject to the passing of certain resolutions by shareholders at the General Meeting. The Company will shortly announce the full details of the proposed Firm Placing and post a circular to Shareholders containing these details and convening the General Meeting.
Unless otherwise defined, all capitalised terms in this announcement are defined at the end of the announcement made earlier today entitled "Proposed Accelerated Bookbuild to raise a minimum of £5.5 million".
For further information please visit www.itm-power.com or contact:
ITM Power plc Graham Cooley, CEO | +44 (0)114 244 5111 |
Zeus Capital Andrew Jones / Jonathan Sharp / Hugh Kingsmill Moore | +44 (0)20 3829 5000 |
Tavistock Simon Hudson / James Collins | +44 (0)20 7920 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 and is a founder member of the Social Stock Exchange. In 2016 the Group has continued its work on the Hyfive project, opening two refuelling stations in London, and signed fuel contracts with Arcola Energy, Commercial Group and Arval. The Group currently has £16.98m of projects under contract and a further £1.37m in the later stages of negotiation (£18.35m in total). www.itm-power.com.