TIDMITM

RNS Number : 2329O

ITM Power PLC

29 September 2023

29 September 2023

ITM Power plc

("ITM Power" or the "Company")

Result of Annual General Meeting

ITM Power (AIM: ITM) announces that all resolutions put to shareholders were duly passed on a poll at the Company's Annual General Meeting, which took place at 2 Bessemer Park, Sheffield, S9 1DZ at 10:00 this morning.

The votes cast were as follows:

 
                                        For                  Against         Withheld 
 Ordinary Resolutions:             Votes        %        Votes        % 
                               ------------  -------  -----------  -------  ---------- 
 1 - Annual Report and 
  Accounts                      244,112,240   99.98%     41,159     0.02%     94,783 
                               ------------  -------  -----------  -------  ---------- 
 2 - Directors' Remuneration 
  Report                        180,871,969   74.15%   63,065,662   25.85%    310,551 
                               ------------  -------  -----------  -------  ---------- 
 3 - Elect Dennis Schulz        242,991,393   99.55%   1,104,459    0.45%     152,330 
                               ------------  -------  -----------  -------  ---------- 
 4 - Re-elect Sir Roger 
  Bone                          208,959,171   85.60%   35,141,804   14.40%    147,207 
                               ------------  -------  -----------  -------  ---------- 
 5 - Re-elect Jürgen 
  N owicki                      231,528,624   94.85%   12,563,605   5.15%     155,953 
                               ------------  -------  -----------  -------  ---------- 
 6 - Re-appoint Grant 
  Thornton as auditors          237,199,300   97.18%   6,875,229    2.82%     173,653 
                               ------------  -------  -----------  -------  ---------- 
 7 - Directors' authority 
  to determine the auditors 
  remuneration                  243,890,662   99.90%    247,450     0.10%     110,070 
                               ------------  -------  -----------  -------  ---------- 
 8 - Directors' authority 
  to allot shares               236,327,776   99.46%   1,274,469    0.54%    6,645,937 
                               ------------  -------  -----------  -------  ---------- 
 Special Resolution: 
                               ------------  -------  -----------  -------  ---------- 
 9 - Disapply pre-emption 
  rights                        236,053,219   96.71%   8,027,276    3.29%     167,687 
                               ------------  -------  -----------  -------  ----------

Resolution 2

The Company was pleased that the Directors' Remuneration Report was supported in a vote at today's Annual General Meeting. It also notes that a significant minority were not able to support the resolution at this time. The Company values our shareholders' views on Remuneration and will continue to engage to ensure it fully understands the opinions of shareholders on these matters, and to continue to explain the rationale for our decisions and policies relating to Directors' pay.

Notes:

1. Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

2. Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3. A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

4. The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.itm-power.com/investors/shareholder-documents

For further information, please visit www.itm-power.com or contact:

 
 ITM Power plc 
 James Collins, Head of Corporate Affairs 
  Justin Scarborough, Head of Investor       +44 (0)114 551 1205 
  Relations                                   +44 (0)114 551 1080 
 
 Investec Bank plc (Nominated Adviser 
  and Broker)                                +44 (0)20 7597 5970 
 James Rudd / Chris Sim / Ben Griffiths

About ITM Power plc:

ITM Power was founded in 2000 and ITM Power PLC was admitted to the AIM market of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.

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END

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September 29, 2023 11:15 ET (15:15 GMT)

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