PDMR Grant of Options

RNS Number : 6785X

ITM Power PLC

14 August 2018

 

14 August 2018

ITM Power Plc

("ITM Power" or the "Company")

Award of Options

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces that the Remuneration Committee of the Company has approved the awards of options over ordinary shares of par value £0.05 each in the capital of the Company to the Executive Directors as follows:

Director	Position	Options granted	Existing options	Total options
Dr G Cooley	CEO	3,000,000	3,000,000	6,000,000
Dr S Bourne	CTO	1,750,000	950,000	2,700,000
Dr R Smith	Director	1,250,000	100,000	1,350,000
Mr A Allen	Finance Director	1,000,000	50,000	1,050,000

All options are being issued with an exercise price of 30p, being the mid closing price on the day of announcement of the final results. Options vest in thirds on the first, second and third anniversary of the grant award and have a ten year expiry from when the options were granted.

The Executive Directors currently have the following interests in ordinary shares in addition to the options set out above:

Director	Position	Number of shares	% of issued share capital
Dr G Cooley	CEO	1,062,726	0.33%
Dr S Bourne	CTO	326,830	0.10%
Dr R Smith	Director	80,886	0.02%
Mr A Allen	Finance Director	Nil	0.00%

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

ITM Power plc Graham Cooley, CEO	[phone]
Investec Bank plc (Nominated Adviser and Broker) Jeremy Ellis / Chris Sim / Alexander Ruffman	[phone]
Tavistock (Financial PR and IR) Simon Hudson / Nick Elwes / Barney Hayward	[phone]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr G Cooley
2	Reason for the notification
a)	Position/status	CEO
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 instrument, type of instrument	Options over ordinary shares of £0.05
	Identification code	GB00B0130H42
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)		Price(s) - 30p Volume(s) - 3,000,000
d)	Aggregated information
	- Aggregated volume
		n/a
	- Price
e)	Date of the transaction	14 August 2018
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr S Bourne
2	Reason for the notification
a)	Position/status	CTO
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 instrument, type of instrument	Options over ordinary shares of £0.05p
	Identification code	GB00B0130H42
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)		Price(s) - 30p Volume(s) - 1,750,000
d)	Aggregated information
	- Aggregated volume
		n/a
	- Price
e)	Date of the transaction	14 August 2018
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr R Smith
2	Reason for the notification
a)	Position/status	Executive Director
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 instrument, type of instrument	Options over ordinary shares of £0.05p
	Identification code	GB00B0130H42
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)		Price(s) - 30p Volume(s) - 1,250,000
d)	Aggregated information
	- Aggregated volume
		n/a
	- Price
e)	Date of the transaction	14 August 2018
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mr A Allen
2	Reason for the notification
a)	Position/status	Finance Director
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 instrument, type of instrument	Options over ordinary shares of £0.05p
	Identification code	GB00B0130H42
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)		Price(s) - 30p Volume(s) - 1,000,000
d)	Aggregated information
	- Aggregated volume
		n/a
	- Price
e)	Date of the transaction	14 August 2018
f)	Place of the transaction	London Stock Exchange, AIM

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