Director/PDMR Shareholding

RNS Number : 0334V

ITM Power PLC

28 November 2019

 

28 November 2019

ITM Power plc

("ITM Power" or "the Company")

Exercise of Options, Total Voting Rights

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that the following the Executive Directors have exercised options over ordinary shares of the Company:

Executive Director	Type of Option to be exercised	Exercise Price	Number of Shares over which Option is expected to be exercised
Graham Cooley	EMI	18.75p	640,000
Graham Cooley	Unapproved	18.75p	360,000
Simon Bourne	EMI	18.75p	200,000
Rachel Smith	EMI	24.25p	100,000

In addition, a further 50,000 options have been exercised by ITM Power staff deemed not to be Persons Discharging Management Responsibility ("PDMR") at an exercise price of 24.25p.

Following the exercise, the Executive Directors, deemed to be PDMRs, have the following interests in ordinary shares:

Executive director	Position	Number of Shares	% of issued share capital
Graham Cooley	CEO	2,137,726	0.45%
Simon Bourne	CTO	549,462	0.12%
Rachel Smith	Executive Director	180,886	0.04%

Following the exercise of options, the issued share capital of the Company comprises 472,662,527 ordinary shares with one voting right per share.  The Company does not hold any shares in treasury. Therefore, this figure of 472,662,527 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of ITM Power under the FCA's Disclosure Guidance and Transparency Rules.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 29 November 2019.

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

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.

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	Exercise of Options[, Sale of Shares]
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		18.75p	1,000,000
d)	Aggregated information
	- Aggregated volume	1,000,000
	- Price	18.75p
e)	Date of the transaction	25 November 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	Exercise of Options[, Sale of Shares]
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		18.75p	200,000
d)	Aggregated information
	- Aggregated volume	200,000
	- Price	18.75p
e)	Date of the transaction	25 November 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	Exercise of Options[, Sale of Shares]
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		24.25p	100,000
d)	Aggregated information
	- Aggregated volume	100,000
	- Price	24.25p
e)	Date of the transaction	25 November 2019
f)	Place of the transaction	Outside a trading venue

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