ITM Power PLC Replacement: Exercise of Options (2571U)

TIDMITM

RNS Number : 2571U

ITM Power PLC

21 November 2019

21 November 2019

ITM Power plc

("ITM Power" or "the Company")

The Exercise of Options announcement published earlier today (21 November) omitted the expected admission date of the new Ordinary Shares. This amendment has been made below. All other details remain unchanged.

Exercise of Options

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that a total of 250,000 options over ordinary shares in the Company have been exercised. Of these, 150,000 were granted on 29 April 2010 to employees at an exercise price of 24p, and 100,000 were granted on 23 November 2009 to one employee at an exercise price of 20p.

None of the transactions are considered by the Board to be PDMR transactions.

Following the exercise of options, the issued share capital of the Company comprises 471,312,527 ordinary shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 471,312,527 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 26 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 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.

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November 21, 2019 09:25 ET (14:25 GMT)