HSBC Bank Malta Plc

Director's Dealing • May 22, 2024

National Storage Mechanism | Additional information

PROPOSED ACQUISITION OF XP POWER LIMITED

DEALINGS DISCLOSURE

1. INTRODUCTION 

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch ("HSBC") refers to the non-binding cash proposal (the "Proposal") by Advanced Energy Industries, Inc. (the "Offeror") to acquire the entire share capital of XP Power Limited (the "Company") for a cash consideration of £19.50 per share, as announced on 21 May 2024 (the "Announcement").

As stated in the Announcement, HSBC, together with J. P. Morgan Securities Asia Private Limited, are the joint financial advisers to the Offeror in respect of the Proposal.

All capitalised terms used and not defined herein shall have the same meanings given to them in the Joint Announcement. 

1. DISCLOSURE OF DEALINGS

Pursuant to Rule 12.1 of the Singapore Code on Take-overs and Mergers (the "Code") and the Practice Statement on the Exemption of Connected Fund Managers and Principal Traders under the Code, HSBC wishes to announce the dealings by its associates in the relevant securities of the Company on 21 May 2024, details of which are set out in the Schedule hereto.

Issued by 

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch

22 May 2024

Schedule

Dealings on 21 May 2024

Dealings in XP Power Limited shares

Date of Dealing	Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller	Description of Security	Nature of Transaction			Number of Shares / Units	Price (SGD)	Highest and Lowest Prices Paid or Received (SGD)		Total Amount [Paid] / [Received] (SGD)	Resultant Total of Equivalent Shares / Units owned or controlled by the associate and by investment accounts under the discretionary management of the associate	% of Resultant Total of Equivalent Shares / Units
BUY / SELL	Product Type	Nature of Dealing	Highest	Lowest
21-May-2024	Global Markets of HSBC Bank plc	XP Power Limited	Sell	Equity	Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders	290	29.19	29.53	28.78	8,465.10	N/A	N/A
21-May-2024	Global Markets of HSBC Bank plc	XP Power Limited	Buy	Equity	Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders	19,560	29.04	29.04	29.04	568,022.40	N/A	N/A

Dealings in Derivatives

Date of Dealing	Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller	Description of Security	Nature of Transaction			Number of shares to which the Derivatives relate	Maturity [Date]/ [Period]	Closing Out Date (if applicable)	Reference Price (SGD)	Total Amount [Paid] / [Received] (SGD)
BUY / SELL	Product Type	Nature of Dealing
21-May-2024	Global Markets of HSBC Bank plc	XP Power Limited	Buy	Equity Swap	Creation of Delta 1 products from wholly unsolicited client-driven orders	290	29-Aug-2025	N/A	29.19	8,465.10
21-May-2024	Global Markets of HSBC Bank plc	XP Power Limited	Sell	Equity Swap	Closing / flattening / unwinding of proprietary positions arising from unsolicited client-driven dealings.  I confirm this was done no later than the close of the morning trading session on the trading day following the orginating client-driven dealing	19,560	08-Feb-2028	21-May-2024	29.04	568,022.40

Securities Borrowing and Lending Transactions

Date of Dealing	Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller	Description of Security	Nature of Transaction		Number of Securities	Date Securities Returned	Resultant total number of Securities owned or controlled	Resultant percentage of Securities owned or controlled
BORROW / LEND / RETURN	Product Type
21-May-2024	Global Markets of HSBC Bank plc	XP Power Limited	Return	Equity	509	21-May-2024	14,539	0.0006%