6 March 2025

XP Power Limited

(“XP Power” or “the Company”)

Grant of Restricted Share Plan, Long Term Incentive Plan and Deferred Bonus Plan awards

The Company announces that on 5 March 2025, Executive Directors of the Company, Gavin Griggs, Matt Webb and Andy Sng, were awarded nominal priced options over ordinary shares of 1 pence each in the Company (“Ordinary Shares”), under the XP Power Limited Restricted Share Plan 2020 (the “RSPs”) and the XP Power Limited Long Term Incentive Plan 2017 (the “LTIPs”). The RSPs are subject to a five-year vesting period, with no performance conditions attached. The vesting of the LTIPs, after five years, is conditional on meeting performance conditions measured at the end of a three-year period.

Awards were further granted on 5 March 2025 to the Executive Directors of the Company under the XP Power Limited Deferred Bonus Plan 2017 (the “DBP”). These awards relate to the compulsory deferral into share awards of 50% of their earned FY24 bonus, which vest after two years. Full details of the FY24 bonus outcome will be set out in the FY24 Annual Report.

The closing mid-market quotation on the day prior to the date of grant used to calculate the number of options granted under the LTIP, RSP and DBP, was £9.70.

All awards were made in accordance with the approved Directors’ Remuneration Policy.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.

 

1

Details of the person discharging managerial responsibilities

a)

Name

Gavin Griggs

2

Reason for the notification

a)

Position/status

Chief Executive Officer (PDMR)

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XP POWER LIMITED

b)

LEI

213800I7RWQ3FV72EZ26

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of £0.01 each (“Ordinary Shares”)

SG9999003735

b)

Nature of the transaction

1)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

2)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years is subject to the achievement of performance conditions assessed at the end of a three-year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

3)

Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option.

 

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

Volume(s)

1) Nil

7,345

2) Nil

58,762

3) Nil

21,667

d)

 

Aggregated information

 - Aggregated volume

 - Price

 

  87,774

  Nil

e)

Date of the transaction

  5 March 2025

f)

Place of the transaction

  Outside a trading venue

 

1

Details of the person discharging managerial responsibilities

a)

Name

Matthew Webb

2

Reason for the notification

a)

Position/status

Chief Financial Officer (PDMR)

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XP POWER LIMITED

b)

LEI

213800I7RWQ3FV72EZ26

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of £0.01 each (“Ordinary Shares”)

SG9999003735

b)

Nature of the transaction

1)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

2)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years, is subject to the achievement of performance conditions assessed at the end of a three-year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

3)

Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option.

 

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

Volume(s)

1) Nil

5,670

2) Nil

45,360

3) Nil

13,834

d)

 

Aggregated information

 - Aggregated volume

 - Price

 

  64,864

  Nil

e)

Date of the transaction

  5 March 2025

f)

Place of the transaction

  Outside a trading venue

 

1

Details of the person discharging managerial responsibilities

a)

Name

Andy Sng

2

Reason for the notification

a)

Position/status

Executive Vice President, Asia (PDMR)

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XP POWER LIMITED

b)

LEI

213800I7RWQ3FV72EZ26

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of £0.01 each (“Ordinary Shares”)

SG9999003735

b)

Nature of the transaction

1)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020. The vesting of the award after five years is not subject to performance conditions. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

2)

Award of nominal value options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. The potential vesting of the award after five years, is subject to the achievement of performance conditions assessed at the end of a three-year period. There is no price payable on the grant or vesting of the option. On exercise, the option price of £0.01 per share is payable.

 

 

3)

Grant of nil cost share option award over Ordinary Shares under the XP Power Limited Deferred Bonus Plan 2017. The vesting of the award after two years is not subject to performance conditions. There is no price payable on the grant, vesting or exercise of the option.

 

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

Volume(s)

1) Nil

2,889

2) Nil

14,449

3) Nil

5,787

d)