Notice of AGM

RNS Number : 6937A

ITM Power PLC

01 October 2020

 

1 October 2020

ITM Power plc

("ITM Power" or the "Company")

Annual General Meeting

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that the Notice of Meeting and associated Forms of Proxy are today being sent to shareholders and will be available shortly on the Company's website.  This year's Annual General Meeting (the "AGM") will be held on 29 October 2020, at 10.00 a.m.

The health of employees, shareholders and stakeholders is extremely important to the Company.  The Board has noted the recent extension of the provisions of The Corporate Insolvency and Governance Act 2020 and associated legislation, such that the alterations to the manner in which companies can hold general meetings have been extended up to 30 December 2020. Accordingly, there will be no physical annual general meeting for shareholders to attend this year.

As set out below, the Company are offering a number of opportunities for shareholders to engage with the Company's Board given the circumstances. That said, the Board will continue to monitor the COVID-19 situation as it evolves (including the UK Government's measures in response to it) and, if the situation or applicable restrictions change in advance of the AGM such that the Board determines that it is safe to make alternative arrangements for the AGM, it will announce these via RNS and the Company's website https://www.itm-power.com .

As a result of the disruption caused by the COVID-19 pandemic (and consequent impact on the audit process), the usual resolution to consider the Company's report and accounts for the financial year ended 30 April 2020 is not included and will not be proposed at the AGM. The audit process is now close to completion. The Company expects to post the report and accounts to shareholders by the end of October 2020 and then convene a separate general meeting to receive them by the end of November 2020.

Shareholders are therefore requested to submit their votes, in respect of the business to be considered at the AGM, via proxy, as early as possible. Shareholders should appoint the Chairman of the AGM as their proxy. Under the current meeting arrangements, if a shareholder appoints someone else as their proxy, that proxy will not be able to attend the AGM in person or cast the shareholder's vote. All resolutions at the AGM will be decided on a poll.

Shareholders are invited to submit any questions for the Board to consider in respect of the business of the AGM.  Questions should be submitted by email by sending them to [e-mail] by 5.00 pm on 15 October 2020under the title "ITM Power Shareholder Questions" and should include any shareholder's full name. A selection of key questions (relating to the business of the AGM) and the Company's responses will be posted on the Company's website by close of business on 21 October 2020 so that shareholders may review these before confirming their proxy vote.

In order to ensure that shareholders are able to follow the proceedings of the AGM, the Company will provide access to an online audio and presentation link, accessible via the online Investor Meet Company platform. Shareholders that wish to attend the AGM should register for the event in advance via the following link: https://www.investormeetcompany.com/itm-power-plc/register-investor.

The online presentation link will be opened at approximately 9.55 a.m. on 29 October 2020. However, please note that shareholders will not be able to vote at the AGM via the online presentation link.

Shareholders are also invited to a live webinar that will start at the later of 10.30 a.m. and the conclusion of the AGM. Further details of the webinar are to follow.

As soon as reasonably practicable in the New Year, shareholders will be invited to attend shareholder events at the Company's new Bessemer Park facility.  Further details and timings will be confirmed in due course. The timing of the events will be dependent on the appropriate lifting of COVID-19 restrictions and the Company's assessment that it can hold these events safely.  ITM Power looks forward to inviting shareholders to Bessemer Park in due course.

For further information please visit www.itm-power.com or contact:

ITM Power plc Graham Cooley, CEO	[phone]
Investec Bank plc (Nominated Adviser and Broker) Corporate Finance: Jeremy Ellis Corporate Broking: Chris Sim / Ben Griffiths	[phone]
Tavistock (Financial PR and IR) Simon Hudson / Nick Elwes / Barney Hayward	[phone]

About ITM Power plc:

ITM Power plc 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 £ 58.8 million fundraise, including a subscription by Linde of £ 38 million, together with the formation of a joint-venture with Linde to focus on delivering renewable 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, Ø rsted, Phillips 66, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

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