26th Mar 2007 07:00
26 March 2007 ITM Power Plc ("ITM" or "the Company") Director Shareholding Exercise of Options
ITM Power Plc announces that Mr Stephen Massey, Non Executive Chairman, exercised options on 23rd March 2007 over 700,000 ordinary shares in ITM Power Plc at an exercise price of 25p per ordinary share. Mr Massey sold 400,000 shares at a price of 116.1p per share to cover costs relating to the transaction.
Following the exercise of the option and the sale of the shares, Mr Massey holds 400,000 ordinary shares representing 0.4% of the total issued share capital of the Company.
Application has been made for the admission of 700,000 ordinary shares to trading on AIM. The shares will rank pari passu with existing ordinary shares and it is expected that admission will occur on 28th March 2007.
Following admission of the new shares, the total issued share capital of the Company will be 101,958,735 ordinary shares.
Ends
For further information please contact:
Marcus ScottITM Power PlcTel: 01799 532860Gemma ChandlerITM Power PlcTel: 01799 532 860Mobile: 07921 057712
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Itm Power