REG-XP Power Ltd: Result of AGM

XP PowerAnnouncement

18/04/2023 13:15

18 April 2023

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 18 April 2023, commencing at 5.00 p.m. Singapore
time. All resolutions were unanimously passed by a show of hands.

For information, the following table shows the total votes cast by proxy
voting on the resolutions that were put to the meeting. The total number of
ordinary shares in issue is 19,734,796 (excluding shares held in treasury).

 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 2022                                           15,125,851  99.99          325   0.01      37,502 
 2                  To declare and approve a final dividend of 36.0 pence per ordinary share for the year ended 31 December 2022              15,162,028  99.99          650   0.01       1,000 
 3                  To re-elect Jamie Pike as a Director                                                                                      15,070,364  99.56       66,280   0.44      27,034 
 4                  To re-elect Andy Sng as a Director                                                                                        15,097,042  99.57       64,602   0.43       2,034 
 5                  To re-elect Gavin Griggs as a Director                                                                                    15,036,886  99.57       64,602   0.43      62,190 
 6                  To re-elect Polly Williams as a Director                                                                                  15,011,735  99.57       64,603   0.43      87,340 
 7                  To re-elect Pauline Lafferty as a Director                                                                                14,808,963  97.67      352,680   2.33       2,035 
 8                  To elect Amina Hamidi as a Director                                                                                       15,097,186  99.57       64,558   0.43       1,934 
 9                  To elect Sandra Breene as a Director                                                                                      15,097,186  99.57       64,558   0.43       1,934 
 10                 To reappoint PwC LLP as Auditor of the Company                                                                            15,036,517  99.17      125,836   0.83       1,325 
 11                 To authorise the Directors to determine the Auditor’s remuneration                                                        15,161,743  99.99          610   0.01       1,325 
 12                 To receive and adopt the remuneration policy set out in the report and accounts for the year ended 31 December 2022       14,041,945  92.61    1,120,232   7.39       1,501 
 13                 To receive and adopt the Directors’ Remuneration Report for the year ended 31 December 2022                               14,727,185  97.52      375,228   2.48      61,265 
 14                 To approve the Directors’ fees of up to £600,000                                                                          15,094,347  99.55       67,953   0.45       1,378 
 15                 To approve and adopt the XP Power Limited Senior Managers Long Term Incentive Plan 2023                                   14,478,423  95.49      683,491   4.51       1,764 
 16                 To authorise the Directors to allot shares up to two thirds of the Company’s issued share capital                         12,745,261  84.06    2,417,125  15.94       1,292 
 17                 To authorised the Directors to allot ordinary shares on a non pre-emptive basis                                           14,488,108  95.55      674,306   4.45       1,264 
 18                 To authorised the Directors to allot ordinary shares on a non pre-emptive basis for acquisitions or capital investments   13,531,100  89.24    1,631,314  10.76       1,264 
 19                 To authorise the Company to purchase its own shares                                                                       15,075,764  99.83       25,185   0.17      62,729 

Notes:
1. Resolutions 1 to 16 (inclusive) were passed as ordinary resolutions and
resolutions 17 to 19 (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.
2. The total votes cast amounted to 15,163,678, representing 76.84 per cent of
the Company’s issued share capital (excluding shares held in treasury).
3. Any proxy appointments which gave discretion to the Chairman have been
included in the “Votes In Favour” total.
4. 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

Gavin Griggs, Chief Executive
Officer                       +44 (0)118 976 5515

David Stibbs, Interim Chief Financial Officer            +44 (0)118 976
5515

Citigate Dewe Rogerson

Kevin Smith/Lucy Gibbs                                     
      +44 (0)207 638 9571



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