ITM Power PLC Grants under Deferred Annual Bonus Plan
August 28 2024 - 11:15AM
RNS Regulatory News
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-
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