XP Power Ltd - Grant of LTIP, RSP and DBP awards
13 Marzo 2024 - 1:01AM
UK Regulatory
XP Power Ltd - Grant of LTIP, RSP and DBP
awards
PR Newswire
LONDON, United Kingdom, March 13
13 March 2024
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 12 March
2024, 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 12 March 2024
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
FY23 bonus, which vest after two years. Full details of the FY23
bonus outcome will be set out in the FY23 Annual Report.
The
five-day average of the closing mid-market quotation prior to the
date of grant used to calculate the number of options granted under
the LTIP, RSP and DBP, was £10.74.
All awards
were made in accordance with the approved Directors' Remuneration
Policy.
The
notification below, made in accordance with the requirements of
Article 19 of the EU Market Abuse Regulations, as it forms part of
domestic law by virtue of The European Union (Withdrawal) Act 2018,
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
|
6,634
|
|
2)
Nil
|
53,072
|
|
3)
Nil
|
14,926
|
|
|
d)
|
Aggregated
information
-
Aggregated volume
-
Price
|
74,632
Nil
|
|
e)
|
Date of
the transaction
|
12 March
2024
|
|
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
|
5,121
|
|
2)
Nil
|
40,968
|
|
3)
Nil
|
3,348
|
|
|
d)
|
Aggregated
information
-
Aggregated volume
-
Price
|
49,437
Nil
|
|
e)
|
Date of
the transaction
|
12 March
2024
|
|
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
|
2,618
|
|
2)
Nil
|
13,091
|
|
3)
Nil
|
3,709
|
|
|
d)
|
Aggregated
information
-
Aggregated volume
-
Price
|
19,418
Nil
|
|
e)
|
Date of
the transaction
|
12 March
2024
|
|
f)
|
Place of
the transaction
|
Outside a
trading venue
|
Enquiries:
|
XP
Power
|
|
|
Ruth
Cartwright, Company Secretary
|
+44 (0)118
984 5515
|
|
|
|
|
Citigate
Dewe Rogerson
|
|
|
Kevin
Smith/Lucy Gibbs
|
+44 (0)207
638 9571
|
Xp Power (LSE:XPP)
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