Clean fuel developer ITM Power’s directors acquire shares

30 July 2010

A number of directors and officers of Aim-listed energy storage and clean fuel developer ITM Power have purchased shares in the company at a price of £0.31 per share.

Securing the greatest shareholding in the company was its CEO Dr Graham Cooley, who acquired 16,129 ordinary shares.

Following the purchase, Cooley has an interest in 172,725 ordinary shares representing 0.17 per cent of the company’s issued share capital.

Dr Simon Bourne, CTO of ITM Power acquired 16,129 of the company’s ordinary shares also at a price of £0.31 per share, following which he has an interest in 39,580 of the its ordinary shares representing 0.04 per cent of the company’s issued share capital.

Professor Roger Putnam, non-executive chairman of ITM Power, acquired 16,129 ordinary shares in ITM Power at a price of 31p per share, leaving him with an interest in 16,129 ordinary shares representing 0.02 per cent of the company’s issued share capital.

CFO of the company, Barry Cunliffe, also acquired 16,129 shares at the same price, following which he has obtained an interest in 47,763 shares representing 0.05 per cent of the company’s total issued share capital.

Putnam said, ‘I am delighted with the progress that has been made at ITM in the last 12 months. The new management team has proved that the company is capable of commercialising its technology and engineering developments into commercial products. The feedback from both the Hannover Messe and the NHA in California was very encouraging and initial interest in the product range bodes well for the future of the company.’

During the past year the company has won several grant awards totalling over £500,000.

Copyright © 2010 NewNet

Tags: clean fuel, energy storage

This story was published on Friday, July 30th, 2010 at 4:33 pm and is filed under Europe, biomass/biofuel, deals, news. You can follow any responses to article entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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