REG-XP Power Ltd: Grant of LTIP, RSP and DBP awards

XP PowerAnnouncement

06/03/2025 15:45

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)        Aggregated information  - Aggregated volume  - Price                             23,125  Nil                                                                                                                                                                                                                                                                                                                                                                                                                                 
 e)        Date of the transaction                                                          5 March 2025                                                                                                                                                                                                                                                                                                                                                                                                                                
 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  

 



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