£4.9m Strategic Investment by JCB in ITM Power

0
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that J.C.B. Research and Valebond Consultants Limited, a company wholly owned by Jo Bamford  (together referred to as the “Investors”) have together acquired a strategic shareholding in the Company by way of a subscription for new ordinary shares (“New Shares”), making them, in aggregate, ITM Power’s largest shareholder.

The Investors have agreed, subject only to Admission (defined below), to subscribe for, in aggregate, 16,186,460 New Shares at a subscription price of 30 pence per New Share (£4.856 million in agg