Business
Proposed Accelerated Capital Raise
Proposed Accelerated Capital Raise.
About this update from Itm Power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1472P\n ITM Power PLC\n 14 October 2021\n \n \n \n \n This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms part of the laws of the United Kingdom \n \n by virtue of the European Union (Withdrawal) Act 2018, as amended from time to time) (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE UNITED STATES), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n 14 October 2021\n \n \n \n \n \n ITM Power PLC\n \n \n (\"ITM Power\" or the \"Group\" or the \"Company\")\n \n \n Proposed accelerated Capital Raise to raise approximately £250 million\n \n \n \n \n \n Introduction \n \n \n \n \n \n ITM Power plc (AIM: ITM), the energy storage and clean fuel company, is pleased to announce its intention to carry out a non-pre-emptive placing (the \"Placing\") of ordinary shares of £0.05 each (\"Shares\") in the capital of the Company (the \"Placing Shares\"). The Company intends to raise total proceeds of approximately £250 million (before expenses) through the Placing and the Subscription (as defined below).\n \n \n \n \n \n The Placing is being conducted through an accelerated bookbuild process (the \"Bookbuild\") which will be launched immediately following this announcement (the \"Announcement\") and is subject to the terms and conditions set out in this Announcement. \n \n \n \n \n \n In conjunction with the Placing, Linde, certain directors and a member of the senior management of the Group intend to subscribe for new ordinary shares in the capital of the Company pursuant to the direct ...