ITM Power PLC Award of Options (5016R)
October 29 2019 - 7:55AM
UK Regulatory
TIDMITM
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 GBP0.05 each in the capital of the Company to the
Executive Directors as follows:
Executive director Number of options Existing Options Total Options
granted
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 Initial Notification
/Amendment
--------------------------------- -------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
--------------------------------- -------------------------------------------
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 Initial Notification
/Amendment
--------------------------------- -------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
--------------------------------- -------------------------------------------
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 Initial Notification
/Amendment
--------------------------------- -------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
--------------------------------- -------------------------------------------
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 Initial Notification
/Amendment
--------------------------------- -------------------------------------------
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 Options over ordinary shares of 5p each
financial instrument,
type of instrument
--------------------------------- -------------------------------------------
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
GBP58.8 million fundraise, including a subscription by Linde of
GBP38 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.
-ends-
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END
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