REG-XP Power Ltd: Result of AGM

XP PowerAnnouncement

25/04/2024 12:15

25 April 2024

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 25 April 2024, 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 23,681,754 (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 2023                                         16,361,368  99.99    28         0.01     25,000    
 2                  To re-elect Polly Williams as a Director                                                                                16,326,368  99.63    60,028     0.37     0         
 3                  To re-elect Sandra Breene as a Director                                                                                 16,326,368  99.63    60,028     0.37     0         
 4                  To re-elect Amina Hamidi as a Director                                                                                  16,326,368  99.63    60,028     0.37     0         
 5                  To re-elect Gavin Griggs as a Director                                                                                  16,326,368  99.63    60,028     0.37     0         
 6                  To re-elect Jamie Pike as a Director                                                                                    16,301,270  99.48    85,126     0.52     0         
 7                  To re-elect Pauline Lafferty as a Director                                                                              16,010,806  97.71    375,590    2.29     0         
 8                  To re-elect Andy Sng as a Director                                                                                      15,867,780  99.62    60,407     0.38     0         
 9                  To re-elect Matt Webb as a Director                                                                                     15,867,780  99.62    60,407     0.38     0         
 10                 To reappoint PwC LLP as Auditor of the Company                                                                          16,280,071  99.35    106,325    0.65     0         
 11                 To authorise the Directors to determine the Auditor's remuneration                                                      16,385,939  99.99    457        0.01     0         
 12                 To receive and adopt the Directors' Remuneration Report for the year ended 31 December 2023                             14,903,242  90.95    1,483,154  9.05     0         
 13                 To approve the Directors' fees of up to £600,000                                                                        16,325,089  99.63    61,307     0.37     0         
 14                 To authorise the Directors to allot shares up to two thirds of the Company's issued share capital                       12,416,574  75.89    3,944,822  24.11    25,000    
 15                 To authorise the Directors to allot ordinary shares on a non pre-emptive basis                                          16,224,579  99.01    161,817    0.99     0         
 16                 To authorise the Directors to allot ordinary shares on a non pre-emptive basis for acquisitions or capital investments  14,293,280  87.23    2,093,116  12.77    0         
 17                 To authorise the Company to purchase its own shares                                                                     16,300,781  99.48    85,565     0.52     50        

 

The Board notes that Resolution 14, the authority for the Directors to allot
shares up to two thirds of the Company's issued share capital, was passed with
24.11% of votes cast against. The Company intends to consult with shareholders
to understand the reasons behind this outcome.

An update on the engagement with shareholders on Resolution 14, and on any
action taken as a result, will be published within six months of today's AGM,
in accordance with the UK Corporate Governance Code.

Notes:
1. Resolutions 1 to 14 (inclusive) were passed as ordinary resolutions and
resolutions 15 to 17 (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 16,386,396, representing 69.19 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                                                 
 Ruth Cartwright, Company Secretary  +44 (0)118 984 5515  
                                                          
 Citigate Dewe Rogerson                                   
 Kevin Smith/Lucy Gibbs              +44 (0)207 638 9571  

 



Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved