ITM Power announce Peter Hargreaves, a Non-executive director since 2003, has notified the Company of his intention to step down from the Board with effect from 31 October. Peter Hargreaves said, “I am proud that I have been involved with ITM Power from the time I encouraged the founders to start the Company. As I look back, I honestly feel that ITM Power is now at its most commercially and financially viable since its foundation.
ITM Power announces that is has received valid acceptances in respect of 10,896,225 New Ordinary Shares pursuant to Qualifying Shareholders’ Open Offer Entitlements representing a percentage take up of 100 per cent. of the new Ordinary Shares available under the Open Offer. Accordingly, the aggregate amount raised pursuant to the Open Offer is approximately £4.4 million and the aggregate amount raised pursuant to the Firm Placing and Open Offer is approximately £29.4 million.