REG - ITM Power PLC - Grants under Deferred Annual Bonus Plan

ITM PowerAnnouncement

28/08/2024 16:15

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RNS Number : 0446C  ITM Power PLC  28 August 2024

28 August 2024

 

ITM Power PLC

 

Grants under Deferred Annual Bonus Plan

 

ITM Power PLC (the "Company") announces that on 27 August 2024 awards over
ordinary shares of £0.05 each in the capital of the Company were granted to
certain employees under the ITM Power PLC Deferred Annual Bonus Plan ("DBP").

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 50.55 pence, being the closing middle market
quotation as derived from the daily official list on 27 August 2024.

 

The awards are subject to a two-year vesting period. As this award was derived
from a portion of the participants' 2024 annual bonus entitlement, which was
subject to the achievement of certain performance conditions, these awards are
not conditional on the achievement of further performance conditions, other
than the participant being a director or employee within the Company's group
at the time of vesting.

 

The DBP awards granted to Executive Directors (who are Persons Discharging
Managerial Responsibilities) are as follows:

 

 Name of Director/PDMR  Number of Shares over which the DBP Award is granted
 Dennis Schulz, CEO       239,183
 Andrew Allen, CFO      100,360
 Simon Bourne, CTO      151,013

 

 

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
 Huan Quayle (Company Secretary)

 Justin Scarborough (Investor Relations)

 Investec Bank plc (Nominated Adviser and Broker)                                                                 +44 (0)20 7597 5970
 James Rudd / Ben Griffiths

 1                                   Details of the person discharging managerial responsibilities / person closely

                                   associated

 a)                                  Name                                                         Dennis Schulz
 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 Options
 c)                                  Price(s) and volume(s)

                                     Price(s)                                                                                     Volume(s)
                                     Nominal cost option                                                                          239,183
 d)                                  Aggregated information

                - Aggregated volume  239,183

                - Price              NA

 e)                                  Date of the transaction                                      27 August 2024
 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 Technology 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 Options
 c)   Price(s) and volume(s)

                                                                   Price(s)                     Volume(s)
                                                                   Nominal cost option          151,013
 d)   Aggregated information

      - Aggregated volume                                          151,013

      - Price                                                      NA

 e)   Date of the transaction                                      27 August 2024
 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 Options
 c)   Price(s) and volume(s)

                                                                   Price(s)                     Volume(s)
                                                                   Nominal cost option          100,360
 d)   Aggregated information

      - Aggregated volume                                          100,360

      - Price                                                      NA

 e)   Date of the transaction                                      27 August 2024
 f)   Place of the transaction                                     Outside a trading venue

 

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