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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Itm Power Plc | LSE:ITM | London | Ordinary Share | GB00B0130H42 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.03 | 6.09% | 52.75 | 52.15 | 52.40 | 53.10 | 48.80 | 48.80 | 3,808,980 | 16:35:02 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electrical Machy, Equip, Nec | 5.23M | -101.2M | -0.1641 | -3.19 | 323.25M |
From May 2019 to May 2024
TIDMITM
RNS Number : 0311D
ITM Power PLC
23 October 2020
23 October 2020
ITM Power plc
Grants under Long Term Incentive Plan
ITM Power plc (the "Company") announces that on 22 October 2020 awards over ordinary shares of GBP0.05 each in the capital of the Company were granted to all staff under the ITM Power plc Long Term Incentive Plan ("LTIP"), over a total number of 1,006,590 ordinary shares.
Additional awards over a total number of 268,582 ordinary shares will be made to the Executive Directors and certain employees, conditional upon completion of the Fundraising announced on 22 October 2020.
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 270.5 pence, being the average mid-market quotation as derived from AIM for the last 5 days of trading prior to close on 21 October 2020.
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. The awards are subject to a three year vesting period and to the achievement of the performance conditions and the participant being a director or employee within the Company's group at that time.
This follows confirmation that the Company has implemented the LTIP, recently adopted by the Company in 2020 as is set out in the announcement of the Company's final results released on 22 October 2020.
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 the LTIP
Award is granted
----------------------- ---------------------------------------
Annual Exceptional
(Conditional)
----------------------- ------------- ------------------------
Graham Cooley 100,912 88,298
Andy Allen 52,478 45,919
Rachel Smith 52,415 45,863
Simon Bourne 77,530 67,839
----------------------- ------------- ------------------------
Total awards granted 283,335 247,919
A further announcement will be made once the decision to grant the exceptional awards becomes unconditional after completion of the Fundraising post the general meeting to be held on 11 November 2020.
The performance conditions applying to these awards, being the first under the Company's recently adopted LTIP, (both annual and exceptional) compare the performance of the Company's shareholder return with that of the performance of the AIM 50 Index over the applicable 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
Nicola Ham Edmonds (Head of Legal and
Company Secretary)
James Collins (IR)
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 Options over ordinary shares of 5p
instrument, type of instrument 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 100,912
----------------------------------------------------------------- -----------
d) Aggregated information
------------------------------------------------------------- -----------
- Aggregated volume 100,912
---------------------------------- -------------------------------------------
- Price NA
---------------------------------- -------------------------------------------
e) Date of the transaction 23 October 2020
---------------------------------- --------------------------------------
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)
------------------------------- ---------------------------- -------------
Nominal cost option 77,530
----------------------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------------------- -------------
- Aggregated volume 77,530
------------------------------- ------------------------------------------------
- Price NA
------------------------------- ------------------------------------------------
e) Date of the transaction 23 October 2020
------------------------------- -------------------------------------------
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)
------------------------------- ---------------------------- -------------
Nominal cost option 52,415
----------------------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------------------- -------------
- Aggregated volume 52,415
------------------------------- ------------------------------------------------
- Price NA
------------------------------- ------------------------------------------------
e) Date of the transaction 23 October 2020
------------------------------- -------------------------------------------
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)
------------------------------- ---------------------------- -------------
Nominal cost option 52,478
----------------------------------------------------------------- -------------
d) Aggregated information
------------------------------------------------------------- -------------
- Aggregated volume 52,478
------------------------------- ------------------------------------------------
- Price NA
------------------------------- ------------------------------------------------
e) Date of the transaction 23 October 2020
------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -------------------------------------------
-ends-
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END
DSHUOVVRRNURURA
(END) Dow Jones Newswires
October 23, 2020 02:02 ET (06:02 GMT)
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