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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Itm Power | AQSE:ITM.GB | Aquis Stock Exchange | Ordinary Share | GB00B0130H42 | Ordinary Shares 5p |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 50.00 | 40.00 | 60.00 | 52.5131 | 50.00 | 50.00 | 188,354 | 16:29:52 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2023 to May 2024
TIDMITM
RNS Number : 6868R
ITM Power PLC
30 October 2023
30 October 2023
ITM Power PLC
Grants under Long Term Incentive Plan
ITM Power PLC (the "Company") announces that on 28 October 2023 awards over ordinary shares of GBP0.05 each in the capital of the Company were granted to certain employees under the ITM Power PLC Long Term Incentive Plan ("LTIP").
No consideration is payable for the grant of the awards which are structured as nominal cost options at an option exercise price of GBP0.05 per ordinary share. The number of ordinary shares granted under the award has been calculated using a share price of 69 pence, being the average mid-market quotation as derived from AIM for the last 5 days of trading prior to 25 October 2023.
The awards are subject to an overall three-year vesting period (followed by a further two-year holding period), as well as to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time.
The LTIP awards granted to Executive Directors (who are Persons Discharging Managerial Responsibilities) are as follows:
Hot Features
Premium
Name of Director/PDMR Number of Shares over which GBP value
the LTIP Award is granted of grant as
a % of salary
----------------------- ---------------------------- ---------------
Dennis Schulz, CEO 1,117,960 150%
Andrew Allen, CFO 496,871 100%
Simon Bourne, CTO 496,871 100%
----------------------- ---------------------------- ---------------
As disclosed in the Company's remuneration report for the year ending 30 April 2023, the awards for the CFO and CTO have been made based on 100% of salary in line with prior years, whilst an exceptional award of 150% of salary has been made to the CEO comprising 50% to reflect the 5 month period during FY23 where no annual award was made and the standard FY24 annual award of 100%.
The vesting of an award is subject to the satisfaction of performance conditions which have been set by the Remuneration Committee of the Board of Directors of the Company. 60% of the award is subject to the growth in the Company's total shareholder return ("TSR"). The TSR performance shall be assessed annually and is capable of being "banked" in equal thirds during the performance period. 10% is subject to the Company's ESG performance and the remaining 30% subject to stretching financial metrics related to EBITDA performance, both of which will be assessed at the end of the Performance Period.
The notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulations.
Enquiries:
ITM Power PLC +44 (0)114 263 7646
Vicky Williams (Company Secretary)
James Collins (Investor Relations)
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
James Rudd / Chris Sim / Ben
Griffiths
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Dennis Schulz
------------------------------------ ----------------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------ ----------------------------------------------------
b) Initial notification /Amendment Initial Notification
------------------------------------ ----------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------
a) Name ITM Power PLC
------------------------------------ ----------------------------------------------------
b) LEI 21380042MB2JKZ6RRP12
------------------------------------ ----------------------------------------------------
Details of the transaction(s): section to be repeated
4 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 Options over ordinary shares of
instrument, type of instrument 5p each
------------------------------------ ----------------------------------------------------
Identification code ISIN: GB00B0130H42
----------------------------------------- ----------------------------------------------------
b) Nature of the transaction Issue of Options
------------------------------------ ----------------------------------------------------
c) Price(s) and volume(s)
------------------------------------ ------------------------------ --------------------
Price(s) Volume(s)
----------------------------------------- ------------------------------ --------------------
Nominal cost
option 1,117,960
----------------------------------------- ------------------------------ --------------------
d) Aggregated information
------------------------------------ ----------------------------------------------------
- Aggregated volume 1,117,960
----------------------------------------- ----------------------------------------------------
- Price NA
----------------------------------------- ----------------------------------------------------
e) Date of the transaction 28 October 2023
------------------------------------ ----------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------------ ----------------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Simon Bourne
------------------------------ -------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Chief Technology Officer
------------------------------ -------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------ -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ITM Power PLC
------------------------------ -------------------------------------------
b) LEI 21380042MB2JKZ6RRP12
------------------------------ -------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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)
------------------------------ ---------------------------- -------------
Nominal cost option 496,871
---------------------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------------------ -------------
- Aggregated volume 496,871
------------------------------ ------------------------------------------------
- Price NA
------------------------------ ------------------------------------------------
e) Date of the transaction 28 October 2023
------------------------------ -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Andrew Allen
------------------------------ -------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------ -------------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------------ -------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ITM Power PLC
------------------------------ -------------------------------------------
b) LEI 21380042MB2JKZ6RRP12
------------------------------ -------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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)
------------------------------ ---------------------------- -------------
Nominal cost option 496,871
---------------------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------------------ -------------
- Aggregated volume 496,871
------------------------------ ------------------------------------------------
- Price NA
------------------------------ ------------------------------------------------
e) Date of the transaction 28 October 2023
------------------------------ -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -------------------------------------------
-ends-
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END
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(END) Dow Jones Newswires
October 30, 2023 03:00 ET (07:00 GMT)
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