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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Xp Power Limited | LSE:XPP | London | Ordinary Share | SG9999003735 | ORD 1P (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-68.00 | -3.95% | 1,652.00 | 1,656.00 | 1,680.00 | 1,742.00 | 1,640.00 | 1,662.00 | 99,811 | 16:35:11 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Motors And Generators | 316.4M | -9.2M | -0.3885 | -42.78 | 393.59M |
TIDMXPP 18 September 2023 XP Power Limited ("XP Power" or "the Company") Grant of Restricted Share Plan and Long Term Incentive Plan awards The Company announces that on 14 September 2023, Matt Webb, Chief Financial Officer and PDMR of the Company, was awarded nominal priced options over ordinary shares of 1 pence each in the Company ("Ordinary Shares"), under the XP Power Limited Restricted Share Plan 2020 (the "RSPs") and the XP Power Limited Long Term Incentive Plan 2017 (the "LTIPs"). The RSPs are subject to a five year vesting period, with no performance conditions attached. The vesting of the LTIPs, after five years, is conditional on meeting performance conditions measured over a three-year period (FY23, FY24 and FY25), which are as follows: Earnings per Share ("EPS") - 67% of the 2023 LTIP award This element vests on the achievement of cumulative adjusted EPS targets for the three financial years ending 31 December 2023, 2024 and 2025: Vesting Cumulative adjusted EPS achieved over the Performance Period 100% 602 pence or above 50% 541 pence 0% 480 pence or below The vesting percentage for performance outcomes between these points will be calculated on a straight-line basis Total Shareholder Return ("TSR") - 33% of the 2023 LTIP award This element vests on the Company's relative TSR performance measured against the constituents of the FTSE250 index (excluding investment trusts) over the period of three financial years ending 31 December 2025: Vesting Company TSR over the Performance Period relative to the FTSE250 (xIT) 100% 80th percentile or above 25% Median (50th percentile) 0% Below median The vesting percentage for performance outcomes between median and 80th percentile will be calculated on a straight-line basis The five-day average of the closing mid-market quotation prior to the date of grant used to calculate the number of options granted under the LTIP and RSP, was £21.97. Both awards were made in accordance with the approved Directors' Remuneration Policy. The notification below, made in accordance with the requirements of Article 19 of the EU Market Abuse Regulations, as it forms part of domestic law by virtue of The European Union (Withdrawal) Act 2018, gives further details. +--+----------------------------+--+------------------------+ |1 |Details of the person | | |discharging managerial | | |responsibilities | +--+----------------------------+--+------------------------+ |a)|Name |Matthew Webb | +--+----------------------------+--+------------------------+ |2 |Reason for the notification | +--+----------------------------+--+------------------------+ |a)|Position/status |Chief Financial | | | |Officer (PDMR) | +--+----------------------------+--+------------------------+ |b)|Initial notification |Initial Notification | | |/Amendment | | +--+----------------------------+--+------------------------+ |3 |Details of the issuer, | | |emission allowance market | | |participant, auction | | |platform, auctioneer or | | |auction monitor | +--+----------------------------+--+------------------------+ |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|Ordinary shares of | | |instrument, type of |£0.01 each | | |instrument |("Ordinary Shares") | | | | | | |Identification code |SG9999003735 | +--+----------------------------+--+------------------------+ |b)|Nature of the transaction |1)|Award of nominal value | | | | |options over Ordinary | | | | |Shares as part of the XP| | | | |Power Limited Restricted| | | | |Share Plan 2020. The | | | | |vesting of the award | | | | |after five years is not | | | | |subject to performance | | | | |conditions. There is no | | | | |price payable on the | | | | |grant or vesting of the | | | | |option. On exercise, the| | | | |option price of £0.01 | | | | |per share is payable. | +--+----------------------------+--+------------------------+ | | |2)|Award of nominal value | | | | |options over Ordinary | | | | |Shares as part of the XP| | | | |Power Limited Long Term | | | | |Incentive Plan 2017. The| | | | |potential vesting of the| | | | |award after five years, | | | | |is subject to the | | | | |achievement of earnings | | | | |per share and total | | | | |shareholder return | | | | |targets measured over a | | | | |three year period. There| | | | |is no price payable on | | | | |the grant or vesting of | | | | |the option. On exercise,| | | | |the option price of | | | | |£0.01 per share is | | | | |payable. | +--+----------------------------+--+------------------------+ | | | | +--+----------------------------+--+------------------------+ |c)|Price(s) and volume(s) | | | | |+--------+---------+ | | | ||Price(s)|Volume(s)| | | | |+--------+---------+ | | | ||1) Nil |2,503 | | | | |+--------+---------+ | | | ||2) Nil |20,027 | | | | |+--------+---------+ | +--+----------------------------+--+------------------------+ |d)|Aggregated information | 22,530 | | | | | | |- Aggregated volume | Nil | | | | | | |- Price | | +--+----------------------------+--+------------------------+ |e)|Date of the transaction | 14 September 2023 | +--+----------------------------+--+------------------------+ |f)|Place of the transaction | Outside a trading | | | |venue | +--+----------------------------+--+------------------------+ Enquiries: XP Power Gavin Griggs, Chief Executive Officer+44 (0)118 976 5155 Citigate Dewe Rogerson Kevin Smith/Lucy Gibbs +44 (0)207 638 9571 This information was brought to you by Cision http://news.cision.com END
(END) Dow Jones Newswires
September 18, 2023 04:57 ET (08:57 GMT)
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