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
