XP POWER LTD. LS-,01
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TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Ameriprise Financial, Inc.
City of registered office (if applicable)
Minneapolis
Country of registered office (if applicable)
United States
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
30-Apr-2025
6. Date on which Issuer notified
02-May-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
4.930000
0.000000
4.930000
1377148
Position of previous notification (if applicable)
5.264000
0.011000
5.275000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
0
1377148
0.000000
4.930000
Sub Total 8.A
1377148
4.930000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
Ameriprise Financial, Inc. (Chain One)
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
TAM UK International Holdings Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Threadneedle Holdings Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
TAM UK Holdings Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Threadneedle Asset Management Holdings Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
TC Financing Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Threadneedle Asset Management Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc. (Chain Two)
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle Investments UK International Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle (Europe) Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle AM (Holdings) Plc
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle Group (Holdings) Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle Group (Management) Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle Holdings Limited
0.000000
0.000000
0.000000%
Ameriprise Financial, Inc.
Columbia Threadneedle Management Limited
0.000000
0.000000
0.000000%
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
Threadneedle Asset Management Limited is wholly owned by TC Financing Limited, which is itself wholly owned by Threadneedle Asset Management Holdings Limited, which is itself wholly owned by TAM UK Holdings Limited, which is itself wholly owned by Threadneedle Holdings Limited, which is itself wholly owned by TAM UK International Holdings Limited, which is itself wholly owned by Ameriprise Financial, Inc.Columbia Threadneedle Management Limited is wholly owned by Columbia Threadneedle Holdings Limited, which is wholly owned by Columbia Threadneedle Group (Management) Limited, which is wholly owned by Columbia Threadneedle Group (Holdings) Limited, which is wholly owned by Columbia Threadneedle AM (Holdings) Plc, which is wholly owned by Columbia Threadneedle (Europe) Limited, which is wholly owned by Columbia Threadneedle Investments UK International Limited, which is wholly owned by Ameriprise Financial, Inc.
12. Date of Completion
02-May-2025
13. Place Of Completion
Swindon, UK
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Odyssean Investment Trust PLC
City of registered office (if applicable)
London
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
23-Apr-2025
6. Date on which Issuer notified
24-Apr-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
10.561000
0.000000
10.561000
2950000
Position of previous notification (if applicable)
5.321000
0.000000
5.321000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
2950000
10.561000
Sub Total 8.A
2950000
10.561000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
24-Apr-2025
13. Place Of Completion
London
24 April 2025
XP Power Limited
("XP Power" or "the Company")
Result of Annual General Meeting
The Annual General Meeting of XP Power Limited was held at 19 Tai Seng Avenue, #07-01, Singapore 534054 on 24 April 2025, commencing at 5.00 p.m. Singapore time. All of the resolutions were voted upon by poll and were approved by shareholders, with the exception of Resolution 13, the advisory vote on the Directors' Remuneration Report which was not passed.
The total number of ordinary shares in issue is 27,932,178 (excluding shares held in treasury). The results of the poll for each resolution are as follows:
Resolution number
Resolution description
In Favour
Against
Withheld
Votes
%age
Votes
%age
Votes
1
To receive the reports and audited accounts for the year ended 31 December 2024
21,589,277
99.93%
14,163
0.07%
85,830
2
To re-elect Jamie Pike as a Director
16,827,562
77.80%
4,801,146
22.20%
60,562
3
To re-elect Gavin Griggs as a Director
17,993,090
84.51%
3,298,618
15.49%
397,562
4
To re-elect Pauline Lafferty as a Director
18,842,223
87.12%
2,785,735
12.88%
61,312
5
To re-elect Matt Webb as a Director
18,959,090
87.66%
2,669,618
12.34%
60,562
6
To re-elect Andy Sng as a Director
18,958,340
87.65%
2,670,368
12.35%
60,562
7
To re-elect Amina Hamidi as a Director
18,958,340
87.66%
2,669,618
12.34%
61,312
8
To re-elect Sandra Breene as a Director
18,958,317
87.66%
2,669,641
12.34%
61,312
9
To re-elect Polly Williams as a Director
18,932,081
87.54%
2,695,877
12.46%
61,312
10
To re-elect Daniel Shook as a Director
21,586,967
99.81%
40,991
0.19%
61,312
11
To reappoint PwC LLP as Auditor of the Company
21,382,151
99.11%
191,479
0.89%
115,640
12
To authorise the Directors to determine the Auditor's remuneration
21,622,708
99.70%
66,057
0.30%
505
13
To receive and adopt the Directors' Remuneration Report for the year ended 31 December 2024
9,751,317
48.38%
10,404,802
51.62%
1,533,151
14
To approve the Directors' fees of up to £600,000
21,611,311
99.64%
77,355
0.36%
604
15
To authorise the Directors to allot shares up to two thirds of the Company's issued share capital
16,233,097
74.85%
5,455,668
25.15%
505
16
To authorise the Directors to allot ordinary shares on a non pre-emptive basis
21,511,497
99.18%
177,268
0.82%
505
17
To authorise the Directors to allot ordinary shares on a non pre-emptive basis for acquisitions or capital investments
20,532,251
94.67%
1,156,514
5.33%
505
18
To authorise the Company to purchase its own shares
21,614,377
99.93%
14,388
0.07%
60,505
Whilst the Board is pleased that all other resolutions were passed with large majorities, the Board notes that Resolution 2, the re-appointment of Jamie Pike was passed with 22.20% of votes cast against, Resolution 13, the advisory vote on the Remuneration Report was not passed with 51.62% of votes cast against and Resolution 15, the authority for the Directors to allot shares up to two thirds of the Company's issued share capital was passed with 25.15% of votes cast against. The Company takes the outcome of shareholder votes extremely seriously and will engage with shareholders to fully understand their concerns in relation to the number of votes recorded not in favour of resolutions 2, 13 and 15 to ensure their feedback continues to inform the Company's approach to governance and remuneration matters. An update on the engagement with shareholders and on any action taken as a result, will be published within six months of today's AGM, in accordance with the UK Corporate Governance Code.
Notes:
Resolutions 1 to 12 and 14 to 15 (inclusive) were passed as ordinary resolutions and resolution 13 was not passed as an ordinary resolution. Resolutions 16 to 18 (inclusive) were passed as special resolutions. The full text of the resolutions is set out in the Notice of Annual General Meeting, a copy of which is on the Company's website https://corporate.xppower.com/investors/general-meetings and has also been made available for inspection through the National Storage Mechanism which can be found at https://data.fca.org.uk/#/nsm/nationalstoragemechanism The total votes cast amounted to 21,688,765, representing 77.65 per cent. of the Company's issued share capital (excluding shares held in treasury). Any proxy appointments which gave discretion to the Chairman have been included in the "Votes In Favour" total. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion for the "Votes In Favour" and "Votes Against" a resolution.
Enquiries:
XP Power
Ruth Cartwright, Company Secretary
+44 (0)118 984 5515
CDR
Kevin Smith/Lucy Gibbs
+44 (0)207 638 9571
24 April 2025
XP Power Limited
(`XP Power' or `the Group')
Q1 2025 Trading Update
Improved order intake and continued healthy cash generation
XP Power, one of the world's leading developers and manufacturers of critical power control components to the electronics industry, is today issuing a trading update for the first quarter ended 31 March 2025.
Trading
Q1
2025
Q1
2024
Change
Change in constant currency
Order intake (£m)
57.4
43.7
31%
30%
Revenue (£m)
53.8
64.6
(17)%
(18)%
Book-to-bill
1.07x
0.68x
0.39x
Quarterly performance
Q2
2024
Q3
2024
Q4
2024
Q1
2025
Order intake (£m)
44.2
48.8
44.9
57.4
% change vs prior year - constant currency
(17)%
11%
(2)%
30%
Revenue (£m)
62.5
60.2
60.0
53.8
% change vs prior year - constant currency
(22)%
(19)%
(22)%
(18)%
Book-to-bill
0.70x
0.81x
0.75x
1.07x
Q1 order intake was £57.4m. This is 23% higher than preceding quarter and 30% higher than the comparative period in constant currency. The Group saw a further improvement in demand from the Semiconductor Manufacturing Equipment sector and growth in both the Industrial Technology and Healthcare sectors as inventory in the sales channel moves closer to equilibrium. Some customers brought forward orders previously scheduled for Q2 in response to improving prospects.
Q1 revenue was £53.8m. This was 13% lower than the preceding quarter and 18% lower than the comparative period in constant currency. The reduction was as expected and includes the impact of the previously announced exit from China's Semiconductor Manufacturing Equipment market.
Our order book at the end of the quarter was £124.0m.
Financial Position
Net debt as of 31 March 2025 was £65.4m, £28.1m lower than as of 31 December 2024. Operating cash generation continues to be healthy, with inventory reducing by a further £5.3m to £65.8m. The closing borrowing position also reflects the recent £40m share placing and a surety bond payment for plaintiff's legal fees and interest in the Comet legal case, as previously announced.
Tariffs
US sales of imported products account for c.30% of Group revenue, of which c.20% is imported from Vietnam, c.3% from China and the balance from other Asian countries. Tariffs are calculated with reference to product cost. US sales of domestically manufactured products account for a further c.25% of Group revenue.
The US power supply market is heavily reliant on overseas production, particularly from Asia. Our products are "designed in" to our customers' equipment, with multi-year product life cycles. Power supplies represent a small proportion of the cost of the customers' products and switching supplier is expensive and time-consuming. US tariffs on Chinese imports introduced in 2018 were passed through the supply chain.
We continue to monitor global tariff proposals closely and will respond accordingly. Whilst they may create some short-term market uncertainty, we do not believe they will impact our competitive position.
Outlook
We are encouraged by the improvement in Q1 order intake. Demand from the Semiconductor Manufacturing Equipment sector increased and we were pleased to see some customers in the Industrial Technology and Healthcare sectors placing orders earlier than expected as channel inventory normalises.
However, we remain mindful of geopolitical uncertainty. It is too early to tell what impact, if any, tariffs will have on our markets in the short-term, albeit we do not believe they will impact our competitive position. The range of potential outcomes for 2025 remains wide.
The Board remains confident in the Group's long-term prospects. We have leading positions in attractive end markets and have a strong pipeline of both new products and new business, supporting medium-term growth. This should deliver significant performance improvement when markets recover.
Enquiries:
XP Power
Gavin Griggs, Chief Executive Officer
+44 (0)118 984 5515
Matt Webb, Chief Financial Officer
+44 (0)118 984 5515
CDR
Kevin Smith/Lucy Gibbs
+44 (0)207 638 9571
XP Power designs and manufactures power controllers, essential hardware components in all electrical equipment that converts power from the electricity grid into the correct form for equipment to function. Power controllers are critical for optimal delivery in challenging environments but are a small part of the overall customer product cost.
XP Power designs power control solutions into the end products of major blue-chip OEMs, with a focus on the Semiconductor Manufacturing Equipment (circa 38% of sales), Industrial Technology (circa 38% of sales) and Healthcare (circa 24% sales) sectors. Once designed into a programme, XP Power has a revenue annuity over the life cycle of the customer's product which is typically five to seven years depending on the industry sector. XP Power has invested in research and development and its own manufacturing facilities in Vietnam, China, North America and Germany, to develop a range of tailored products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency.
Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP Power is a constituent of the FTSE SmallCap Index. XP Power serves a global blue-chip customer base from over 30 locations in Europe, North America, and Asia.
For further information, please visit www.xppowerplc.com
Forward-looking statements
This announcement contains forward-looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and markets in which the Group operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated. No assurances can be given that the forward-looking statements in this announcement will be realised.
The forward-looking statements reflect the knowledge and information available to management at the date of preparation of this announcement. XP Power and its Directors accept no responsibility to third parties and undertake no obligation to update these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Aberforth Partners LLP
City of registered office (if applicable)
Edinburgh
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
Name
City of registered office
Country of registered office
Nortrust Nominees Ltd
London
United Kingdom
5. Date on which the threshold was crossed or reached
17-Apr-2025
6. Date on which Issuer notified
22-Apr-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
10.080000
0.000000
10.080000
2814839
Position of previous notification (if applicable)
5.210000
0.000000
5.210000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
0
2814839
0.000000
10.080000
Sub Total 8.A
2814839
10.080000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
22-Apr-2025
13. Place Of Completion
Edinburgh, UK
1 April 2025
XP Power Limited
("XP Power" or "the Company")
Total Voting Rights
In fulfilment of its obligations under DTR 5.6.1 R, XP Power notifies the market that, on 31 March 2025, the share capital of the Company consisted of 27,932,178 ordinary shares of 1 pence each ("Ordinary Shares") and a further 7,500 Ordinary Shares held in Treasury.
Therefore, the total number of voting rights in the Company is 27,932,178. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
XP Power
Ruth Cartwright, Company Secretary
+44 (0)118 984 5515
Citigate Dewe Rogerson
Kevin Smith/Lucy Gibbs
+44 (0)207 638 9571
20 March 2025
XP Power Limited("XP Power" or "the Company")
Annual Financial Report and Notice of Annual General Meeting
XP Power announced its Annual Results for the year ended 31 December 2024 (the "Annual Results Announcement") on 4 March 2025. Further to the Annual Results Announcement, the Company is pleased to confirm that it has today published and (where applicable) posted to shareholders the Annual Report and Accounts for the year ended 31 December 2024 (the "2024 Annual Report"), and the Notice of the 2025 Annual General Meeting (the "AGM Notice").
In compliance with DTR 6.3.5(3)R, the 2024 Annual Report and AGM Notice are available to view on the Company's investors' website at https://corporate.xppower.com/.
In accordance with UK Listing Rule 6.4.1 a copy of each of these documents has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries:
XP Power
Ruth Cartwright, Company Secretary
+44 (0)118 984 5515
Citigate Dewe Rogerson
Kevin Smith/Lucy Gibbs
+44 (0)207 638 9571
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Steel Connect Sub LLC
City of registered office (if applicable)
New York
Country of registered office (if applicable)
United States
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
06-Mar-2025
6. Date on which Issuer notified
11-Mar-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
7.571800
0.000000
7.571800
2114957
Position of previous notification (if applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
2114957
7.571800
Sub Total 8.A
2114957
7.571800%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
Warren G. Lichtenstein
Steel Connect Sub LLC
7.571800
7.571800%
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
Warren G. Lichtenstein: as a result of his direct and indirect holdings of common units in Steel Partners Holdings L.P. and other trust and proxy arrangements over common units in Steel Partners Holdings L.P., Mr Lichtenstein is assumed (for the purpose of DTR5 only) as being the ultimate controlling person. Chain of controlled undertakings:Steel Partners Holdings GP Inc. (the general partner of Steel Partners Holdings L.P., the managing member of SPH Group LLC and the manager of SPH Group Holdings LLC, and 100% owned by Steel Partners Holdings L.P.)Steel Partners Holdings L.P.The following entities are directly or indirectly 100% owned by Steel Partners Holdings L.P. (ignoring holdings of certain of these entities in parent companies)SPH Group LLC SPH Group Holdings LLC Steel Excel Inc. Handy & Harman Ltd. Handy & Harman Group Ltd. Handy & Harman Steel Connect LLC Steel Connect Sub LLC
12. Date of Completion
11-Mar-2025
13. Place Of Completion
United Kingdom
GENERAL CORRECTION
The following amendments have been made to the 'Holding(s) in Company' announcement released on 5 March 2025 at 14:37.
The date on which the threshold was crossed in box 5 has been updated from 05-Mar-2025 to 07-Mar-2025 and the % of voting rights attached to shares in issuer in boxes 7 and 8A has been updated from 11.206530% to 9.501240%.
All other details remain unchanged. The full amended text is shown below.
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Van Lanschot Kempen Investment Management NV
City of registered office (if applicable)
Amsterdam
Country of registered office (if applicable)
Netherlands
4. Details of the shareholder
Name
City of registered office
Country of registered office
Kempen Oranje Participaties N.V
Amsterdam
Netherlands
5. Date on which the threshold was crossed or reached
07-Mar-2025
6. Date on which Issuer notified
07-Mar-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
9.501240
0.000000
9.501240
2653905
Position of previous notification (if applicable)
6.030000
0.000000
6.030000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
2653905
9.501240
Sub Total 8.A
2653905
9.501240%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
07-Mar-2005
13. Place Of Completion
Amsterdam
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
SG9999003735
Issuer Name
XP Power Ltd
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An event changing the breakdown of voting rights
3. Details of person subject to the notification obligation
Name
Montanaro Asset Management Limited
City of registered office (if applicable)
London
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
06-Mar-2025
6. Date on which Issuer notified
06-Mar-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
4.710000
0.000000
4.710000
1315000
Position of previous notification (if applicable)
5.810000
0.000000
5.810000
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
SG9999003735
1315000
4.710000
Sub Total 8.A
1315000
4.710000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
06-Mar-2025
13. Place Of Completion
London
P R O D U C T S U G G E S T I O N S
