Directors dealings: Peter Hargreaves contributes £1.2m to ITM Power offer

Three directors of ITM Power have contributed £2.2m as the renewable fuel cells company completed a £5.8m fundraising to support its current pipeline for builds and sales.

ITM's placing and open offer at 15p a share saw chief executive Graham Cooley spend almost £65,000, while non-executive director Peter Hargreaves shelled out £1.2m.

Fellow independent director Robert Pendlebury personally bought 1,498 shares and now holds 12,261 ordinary shares. is Pendlebury is a nominee of JCB Research and Valebond consultants Ltd, who bought shares to the value of £1.2m (8,000,000 shares at £0.15).

Hargeaves, who last year stepped down from the board of his co-founded Hargreaves Lansdown, has been on the ITM board since 2004, while ex-Ford and JCB man Pendlebury was appointed last June.

Mainly focused on its two main products of power-to-gas energy storage and hydrogen refuelling, ITM said last month that it has £9.01m of projects under contract and a further £8.66m of contracts in final stages of negotiation, making a total pipeline of £17.67m.

Half year results showed revenues were up significantly, though the company still had work to do to reduce cash-burn and achieve profitability, it revealed in its half-year report at the end of January.

Top Director Buys

Itm Power (ITM)
Director name: Hargreaves,Peter K
Amount purchased: 8,000,000 @ 15.00p
Value: £1,200,000.05

Itm Power (ITM)
Director name: Pendlebury ,Robert Michael
Amount purchased: 6,354,031 @ 15.00p
Value: £953,104.69

Shire Plc (SHP)
Director name: Kilsby,Susan
Amount purchased: 4,800 @ $53.54
Value: $184,301.12

Datatec Ltd. (di) (DTC)
Director name: Seabrooke,Christopher S
Amount purchased: 86,764 @ R43.00
Value: R171,124.30

Telford Homes (TEF)
Director name: Furlong,James
Amount purchased: 20,000 @ 332.50p
Value: £66,500.00

Itm Power (ITM)
Director name: Cooley ,Graham
Amount purchased: 433,333 @ 15.00p
Value: £64,999.95

Foreign And Colonial Inv Trust (FRCL)
Director name: Ecsery,Francesca
Amount purchased: 1,234 @ 402.42p
Value: £4,965.91

Talktalk Telecom Group (TALK)
Director name: Harding,Dido
Amount purchased: 152 @ 197.83p
Value: £300.70

Talktalk Telecom Group (TALK)
Director name: Torrens,Iain
Amount purchased: 152 @ 197.83p
Value: £300.70

Bovis Homes Group (BVS)
Director name: Ritchie,David James
Amount purchased: 17 @ 872.20p
Value: £148.27

Bovis Homes Group (BVS)
Director name: Palmer,Martin
Amount purchased: 17 @ 872.20p
Value: £148.27

Victrex Plc (VCT)
Director name: Cooper,Timothy (Tim) J
Amount purchased: 9 @ 1,410.00p
Value: £126.90

Victrex Plc (VCT)
Director name: Court ,Martin
Amount purchased: 9 @ 1,410.00p
Value: £126.90

Top Director Sells

Beazley (BEZ)
Director name: Horton,Andrew
Amount purchased: 307,460 @ 363.50p
Value: £1,117,617.10

Beazley (BEZ)
Director name: Washbourn,Clive
Amount purchased: 176,298 @ 363.50p
Value: £640,843.23

Beazley (BEZ)
Director name: Horton,Andrew
Amount purchased: 176,298 @ 363.50p
Value: £640,843.23

Beazley (BEZ)
Director name: Washbourn,Clive
Amount purchased: 172,946 @ 363.50p
Value: £628,658.71

Beazley (BEZ)
Director name: Maidment,Neil
Amount purchased: 172,946 @ 363.50p
Value: £628,658.71

Beazley (BEZ)
Director name: Cox ,Adrian
Amount purchased: 144,122 @ 363.50p
Value: £523,883.47

Beazley (BEZ)
Director name: Bride,Martin
Amount purchased: 144,122 @ 363.50p
Value: £523,883.47

Beazley (BEZ)
Director name: Maidment,Neil
Amount purchased: 132,223 @ 363.50p
Value: £480,630.60

Beazley (BEZ)
Director name: Cox ,Adrian
Amount purchased: 117,532 @ 363.50p
Value: £427,228.82

Beazley (BEZ)
Director name: Bride,Martin
Amount purchased: 88,149 @ 363.50p
Value: £320,421.61

Cityfibre Infrastructure Holdings (CFHL)
Director name: Mesch ,Robert Gary
Amount purchased: 250,000 @ 50.00p
Value: £125,000.00