REG - ITM Power PLC - Director/PDMR Shareholding

ITM PowerAnnouncement

17/12/2021 15:30

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RNS Number : 0833W  ITM Power PLC  17 December 2021

17 December 2021

 

ITM Power PLC

 

Grants under Long Term Incentive Plan and Acquisition of Shares by way of
Inheritance

 

ITM Power PLC (the "Company") announces that on 16 December 2021 awards over
ordinary shares of £0.05 each in the capital of the Company were granted to
all staff 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 £0.05 per ordinary
share. The number of ordinary shares granted under the award has been
calculated using a share price of 394 pence, being the average mid-market
quotation as derived from AIM for the last 5 days of trading prior to close on
15 December 2021.

 

The awards are subject to a three-year vesting period (and for the Executive
Directors a further two-year holding period), as well as to the achievement of
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:

 

 Name of Director/PDMR  Number of Shares over which the LTIP Award is granted
 Graham Cooley          121,310
 Andrew Allen           86,650
 Simon Bourne           86,650
 Rachel Smith           66,431
 Total awards granted   361,041

 

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, 20% subject to the Company's MSCI ESG
rating and the remaining 20% subject to stretching financial metrics related
to revenue and gross margin performance.

 

The Company also announces that on 16 December 2021 Rachel Smith received
379,880 ordinary shares of £0.05 each in the capital of the Company by way of
inheritance.

 

The notification is intended to satisfy the Company's obligations under
Article 19 of the Market Abuse Regulations.

 

Enquiries:

 

 ITM Power PLC                        +44 (0)114 244 5111
 Helen Baker (Company Secretary)

 James Collins (Investor Relations)

 

 

 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 instrument, type of instrument  Options over ordinary shares of 5p each
     Identification code                                          ISIN: GB00B0130H42
 b)  Nature of the transaction                                    Issue of nominal cost options
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  Nil                          121,310
 d)  Aggregated information
     - Aggregated volume                                          121,310
     - Price                                                      Nil
 e)  Date of the transaction                                      2021-12-16
 f)  Place of the transaction                                     Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Andrew Allen
 2   Reason for the notification
 a)  Position/status                                              Chief Financial 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 instrument, type of instrument  Options over ordinary shares of 5p each
     Identification code                                          ISIN: GB00B0130H42
 b)  Nature of the transaction                                    Issue of nominal cost options
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  Nil                          86,650
 d)  Aggregated information
     - Aggregated volume                                          86,650
     - Price                                                      Nil
 e)  Date of the transaction                                      2021-12-16
 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 /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 5p each
     Identification code                                          ISIN: GB00B0130H42
 b)  Nature of the transaction                                    Issue of nominal cost options
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  Nil                          86,650
 d)  Aggregated information
     - Aggregated volume                                          86,650
     - Price                                                      Nil
 e)  Date of the transaction                                      2021-12-16
 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 /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 5p each
     Identification code                                          ISIN: GB00B0130H42
 b)  Nature of the transaction                                    Issue of nominal cost options
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  Nil                          66,431
 d)  Aggregated information
     - Aggregated volume                                          66,431
     - Price                                                      Nil
 e)  Date of the transaction                                      2021-12-16
 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 /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  Ordinary shares of 5p each
     Identification code                                          ISIN: GB00B0130H42
 b)  Nature of the transaction                                    Acquisition of shares by way of inheritance
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  Nil (transfer from estate)   379,880
 d)  Aggregated information
     - Aggregated volume                                          379,880
     - Price                                                      Nil (transfer from estate)
 e)  Date of the transaction                                      2021-12-16
 f)  Place of the transaction                                     London Stock Exchange (XLON)

 

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