XP Power Ltd.

Share Issue/Capital Change • May 31, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

XP POWER LTD - Director/PDMR Shareholding

PR Newswire

London, May 31

31 May 2017

XP Power Limited (“XP” or the “Company”)

Grant of Long Term Incentive Plan (LTIP) awards

The Company announces that on 30 May 2017, certain Directors of the Company were awarded a nominal priced option over ordinary shares of 1p each in the Company (“Ordinary Shares”) as detailed below, under the XP Power Limited Long Term Incentive Plan 2017 (the “Awards”) approved by shareholders on 19 April 2017.

Director	Number of Ordinary Shares over which awards granted
Mike Laver	3,000
Duncan Penny	6,000
Jonathan Rhodes	2,000
Andy Sng	2,000
TOTAL	13,000

The vesting of the Awards is conditional on meeting performance conditions measured over a three-year period as described below, with 50% vesting on the third anniversary of the date the Awards were made and 50% vesting after a further one year deferral period.

Performance conditions

1.       Earnings per Share Target

Up to 50% of the total Awards will vest on the achievement of the following earnings per share ("EPS") compound growth per annum targets for the three financial years ending 31 December 2017, 2018 and 2019 (the “Performance Condition Period”) as shown in the following table:

EPS compound growth per annum ("EPS Target")	Max. No. of Ordinary Shares vesting subject to the EPS Target
5%	1,625
10%	6,500

Achievement of the EPS Target between 5% and 10% will result in the Awards vesting on a straight-line basis and any entitlement to a fraction of a Share shall be rounded down.

2.       Total Shareholder Return (“TSR”) Target

Up to 50% of the total Awards will vest dependent upon the performance of the Company’s TSR measured against that of the FTSE250 over the Performance Condition Period. 1,625 Ordinary Shares will vest at median performance with 6,500 Ordinary Shares vesting at upper quartile performance.  Vesting between these points will be measured on a straight-line basis.

Malus and clawback provisions are also in place to reduce or recover the Awards for criteria such as any material misstatement of the financial statements, a serious breach of the Company’s code of ethics or a serious health and safety issue.

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Mike Laver Duncan Penny Jonathan Rhodes Andy Sng
2.	Reason for the notification
(a)	Position/status	Mike Laver – President, World Wide Sales and Marketing Duncan Penny – Chief Executive Jonathan Rhodes – Finance Director Andy Sng – Executive Vice President, Asia
(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	Mike Laver                     3,000 Duncan Penny               6,000 Jonathan Rhodes           2,000 Andy Sng                      2,000
(e)	Aggregated information -           Aggregated volume -           Price	Mike Laver                     3,000 Duncan Penny               6,000 Jonathan Rhodes           2,000 Andy Sng                      2,000 TOTAL                  13,000 Exercisable at nominal price of 1 pence per Ordinary Share
(f)	Date of the transaction	30 May 2017
(g)	Place of the transaction	n/a

-Ends-

Enquiries:

XP Power 

Duncan Penny, Chief Executive Officer    +44 (0)118 976 5086

Jonathan Rhodes, Finance Director         +44 (0)118 976 5074

Citigate Dewe Rogerson               +44 (0)20 7638 9571

Kevin Smith/Jos Bieneman