Award of Options

RNS Number : 5016R

ITM Power PLC

29 October 2019

 

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.

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