Business
Results of Capital Raise and Notice of Meeting
Results of Capital Raise and Notice of Meeting.
About this update from Itm Power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2137P\n ITM Power PLC\n 15 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 15 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 ITM Power raises £250m\n \n \n Manufacturing expanded to 5GW per annum by 2024\n \n \n Results of Capital Raise and Notice of General Meeting \n \n \n On 14 October 2021, ITM Power plc \n (AIM: ITM)\n , the energy storage and clean fuel company, announced the launch of a placing (the \"Placing\") by way of an accelerated bookbuild (the \"Launch Announcement\") by Investec Bank plc (\"Investec\") and Merrill Lynch International (\"BofA Securities\"). The Placing has now closed.\n \n \n The Company \n is pleased to announce that the Placing was oversubscribed, and that it has conditionally placed 57,495,000 Placing Shares with institutional investors and certain directors at a price of 400 pence per New Share (the \"Issue Price\"). \n In conjunction with the Placing, Linde and a member of the senior management have subscribed for 5,005,000 new ordinary shares (the \n \"Subscription Shares\", and together with the Placing Shares, the \"New Shares\")\n in the capital of the Company (the \"Subscription\" and together with the Placing, the \"Capi...