ITM POWER PLC
Holdings in Company
ITM Power plc ('ITM Power' or the 'Company') announces that its nominated
adviser and broker, Durlacher Limited, has agreed to exercise its discretion to
release the RAB Special Situations L.P. fund ('RAB') from the lock-in
arrangements put in place on the Company's admission to AIM in order to create
additional liquidity. The lock-in arrangement has been replaced with an orderly
market agreement that runs to 10 June 2006. The lock-in arrangement had been
due to run until 10 June 2005, being 12 months from the date of the Company's
admission to AIM, with an orderly market agreement to run thereafter for a
further 12 months.
The RAB Special Situations L.P. fund currently holds 6,825,000 ordinary shares
representing 7.5 per cent. of the Company's issued share capital.
For further information please contact:
Stephen Massey David Rae
Jim Heathcote Katherine Roe
ITM Power Plc Durlacher Limited
Tel: 01780 740574 Tel: 020 7459 3600