Grant of Options

RNS Number : 4053O

ITM Power PLC

06 August 2014

 



6 August 2014

ITM Power plc

("ITM Power" or the "Company")

Grant of Share Options

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces the grant of the following share options:

Grant of Options

	EMI Options				Unapproved Options
	No.	Exercise price (pence)	Vesting	Exercise	No.	Exercise price (pence)	Vesting	Exercise
Graham Cooley					750,000	26.50	Immediately	Up to 10 years from grant
Simon Bourne	250,000	26.50	Immediately	Up to 10 years from grant

Existing Options

	EMI Options				Unapproved Options
	No.	Exercise price (pence)	Vesting	Exercise	No.	Exercise price (pence)	Vesting	Exercise
Graham Cooley	890,000	27.53	1st/2nd/3rd anniversary	Up to 10 years from grant	1,360,000	46.91	Immediately	Up to 10 years from grant
Simon Bourne	423,596	40.10	1st/2nd/3rd anniversary	Up to 10 years from grant	276,404	66.75	Immediately	Up to 10 years from grant

Total

	EMI Options	Unapproved Options	Total
	No.	No.	No.
Graham Cooley	890,000	2,110,000	3,000,000
Simon Bourne	673,596	276,404	950,000

Graham Cooley and Simon Bourne currently have the following interests in ordinary shares in addition to the options set out above:

	No. of Shares	% of issued share capital
Graham Cooley	377,923	0.23%
Simon Bourne	326,830	0.20%

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

ITM Power plc Graham Cooley, CEO	0114 244 5111
Zeus Capital Tim Metcalfe (Nominated Adviser) John Goold (Institutional Sales)	020 7533 7727
Tavistock Communications Simon Hudson / James Collins	020 7920 3150

About ITM Power

The principal activity of ITM Power is the design, manufacture and sale of hydrogen energy systems for energy storage and clean fuel production.

ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO.  Further funding rounds of £28.5m in 2006, £5.4m in 2012, £2m in 2013 and £10m in 2014 have been completed.  The Company has now made the transition from a research and development company to a product manufacturer and technology provider.  The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions.

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