13 May 2021
XP Power Limited
(“XP” or the “Company”)
Grant of Long Term
Incentive Plan (LTIP) and Restricted Share Plan (RSP) awards
The Company announces that on 10 May
2021, Oskar Zahn, Chief
Financial Officer was awarded a nominal priced option over 8,024
ordinary shares of 1p each in the Company ("Ordinary Shares") as
detailed below, under the XP Power Limited Long Term Incentive Plan
2017 (the "LTIP’s") approved by shareholders on 19 April 2017 and restricted shares, under the XP
Power Limited Restricted Share Plan 2020 (the “RSP’s”) approved by
shareholders on 21 April 2020, over
1,203 ordinary shares of 1p each in the Company (“Ordinary
Shares”).
The vesting of the LTIP’s is conditional on meeting performance
conditions measured over a three-year period as described
below.
The RSP award is not subject to performance conditions and will
vest three years after the date of grant. RSP awards are subject to
a two year holding period post vesting.
| 1. |
Details of the person
discharging managerial responsibilities/person closely
associated |
| (a) |
Name |
Oskar
Zahn |
| 2. |
Reason for the
notification |
| (a) |
Position/status |
Chief Financial
Officer |
| (b) |
Initial notification/ Amendment |
Initial
notification |
| 3. |
Details of the
issuer |
| (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 |
Ordinary Shares of £0.01
each in the Company |
| (b) |
Identification code of the Financial
Instrument |
SG9999003735 |
| (c) |
Nature of the transaction |
Award of options over
Ordinary Shares as part of the XP Power Limited Long Term Incentive
Plan 2017. The potential vesting of the awards are subject to
earnings per share and total shareholder return targets. |
| (d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
Exercisable at nominal price of 1
pence per Ordinary Share |
8,024 |
|
|
|
|
|
|
|
| (e) |
Aggregated
information
-
Aggregated volume
- Price |
N/A |
| (f) |
Date of the transaction |
10 May 2021 |
| (g) |
Place of the transaction |
n/a |
| 1. |
Details of the person
discharging managerial responsibilities/person closely
associated |
| (a) |
Name |
Oskar Zahn |
| 2. |
Reason for the
notification |
| (a) |
Position/status |
Chief Financial
Officer |
| (b) |
Initial notification/ Amendment |
Initial
notification |
| 3. |
Details of the
issuer |
| (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 |
Ordinary Shares of £0.01
each in the Company |
| (b) |
Identification code of the Financial
Instrument |
SG9999003735 |
| (c) |
Nature of the transaction |
Award of options over
Ordinary Shares as part of the XP Power Limited Restricted Share
Plan 2020 |
| (d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
|
|
Exercisable at nominal price of 1
pence per Ordinary Share |
1,203 |
| (e) |
Aggregated
information
-
Aggregated volume
- Price |
N/A |
| (f) |
Date of the transaction |
10 May 2021 |
| (g) |
Place of the transaction |
n/a |
-Ends-
Enquiries:
XP Power
Gavin Griggs, Chief Executive
Officer
+44 (0)118 984 5515
Oskar Zahn, Chief Financial
Officer
+44 (0)118 984 5515
Citigate Dewe
Rogerson
+44 (0)20 7638 9571
Kevin Smith/Jos Bieneman