RNS Announcements

Grant of Long Term Incentive Plan (LTIP) awards

20 November 2017

The Company announces that on 17 November 2017, Gavin Griggs, Chief Financial Officer was awarded a nominal priced option over 8,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), under the XP Power Limited Long Term Incentive Plan 2017 (the "Award").

The vesting of the Award is conditional on meeting challenging performance conditions measured over a three-year period as described in the Company's 2016 Annual Report, with 50% vesting on the third anniversary of the date the Award was made and 50% vesting after a further one year deferral period.

1. Details of the person discharging managerial responsibilities/person closely associated
(a) Name Gavin Griggs  
2. Reason for the notification
(a) Position/status Gavin Griggs - Chief Financial Officer
(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.
(d) Price(s) and volume(s) Price(s) Volume(s)


Exercisable at nominal price of 1 pence per Ordinary Share 8,000







(e) Aggregated information -            Aggregated volume     -           Price TOTAL    8,000
Exercisable at nominal price of 1 pence per Ordinary Share
(f) Date of the transaction 17 November 2017
(g) Place of the transaction n/a

 

 

Enquiries:

XP Power
Duncan Penny, Chief Executive
+44 (0)7776 178 018
   
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman  

 

Note to editors

XP Power is a leading international provider of essential power control solutions.  Power direct from the electricity grid is unsuitable for the equipment which it supplies.  XP Power designs and manufactures power converters - components which convert power into the right form for our individual customers' needs, allowing their electronic equipment to function.  XP Power supplies the healthcare, industrial and technology industries with this mission critical equipment.  Significant, long term investment into research and development means that XP Power's products frequently offer significantly improved functionality and efficiency.

 

For further information, please visit www.xppower.com

 

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