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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
XP Power Ltd | AQSE:XPP.GB | Aquis Stock Exchange | Ordinary Share | SG9999003735 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-50.00 | -3.51% | 1,375.00 | 1,300.00 | 1,450.00 | 1,425.00 | 1,375.00 | 1,425.00 | 118 | 15:32:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMXPP 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 Max. No. of Ordinary Shares vesting Target") 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 Initial notification notification/ Amendment 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 Ordinary Shares of GBP0.01 each in the Company the Financial Instrument (b) Identification SG9999003735 code of the Financial Instrument (c) Nature of the Award of options over Ordinary Shares as part of transaction 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 Price(s) Volume(s) volume(s) Exercisable at nominal Mike price of 1 pence per Laver Ordinary Share 3,000 Duncan Penny 6,000 Jonathan Rhodes 2,000 Andy Sng 2,000 (e) Aggregated information Mike Laver 3,000 - Duncan Penny 6,000 Aggregated Jonathan Rhodes 2,000 volume Andy Sng 2,000 TOTAL 13,000 - Exercisable at nominal price of 1 pence per Price Ordinary Share (f) Date of the 30 May 2017 transaction (g) Place of the n/a transaction -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 END
(END) Dow Jones Newswires
May 31, 2017 12:06 ET (16:06 GMT)
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