Itm Power Regulatory News (ITM)

13 Jul 2005 06:00

13 July 2005 ITM Power plc ("ITM" or "the Company") Placing of Founders' Shares Further to an announcement on 1 July 2005, ITM Power plc, which aims to provide enabling technology for the hydrogen economy, is pleased to announce today that 6,818,181 existing ordinary shares have been placed successfully with existing and new investors on behalf of John Wreford, Dr Jon Lloyd and Dr Donald Highgate, all being founders and directors of ITM.The shares placed represent 7.4 per cent of the issued share capital of the Company and were placed at a price of 88 pence per share.Following this placing, the Company has been notified of the followingdirectors' interests in its share capital:Name of director Number of Price Holding Percentage of shares sold following share capital notification John Wreford 3,863,637 88p 10,136,363 11.03 Dr Jon Lloyd 1,477,272 88p 12,522,728 13.63 Dr Donald Highgate 1,477,272 88p 12,522,728 13.63John Wreford, Dr Jon Lloyd and Dr Donald Highgate will undertake not to sellany further shares in the Company for a period of 12 months.The Company has also been notified that, as part of the placing, PeterHargreaves, a non-executive director of ITM, has increased his share holding asfollows: Number of Price Holding Percentage of shares following share capital purchased notification Peter Hargreaves 244,000 88p 5,289,180 5.76For further information please contact:Jim Heathcote, Chief Executive ITM Power plc Tel: 01780 740574 Gemma Chandler Tavistock Communications Tel: 020 7920 3150 Simon Hirst / Richard Swindells Panmure Gordon & Co Tel: 020 7459 3600 ENDITM POWER PLC