Company Announcements

Grants under Deferred Annual Bonus Plan

Source: RNS
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

 

-ends-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHSEUFIAELSESA