Xp Power Limited Share Price (XPP.GB.PL)

Https://www.gov.uk/government/news/billions-of-investment-for-british-manufacturing-to-boost-economic-growth

Surprised nobody has mentioned this yet but A £4.5 Billion Investment Package announced by the Chancellor on Friday during a visit to ITM Powers plant in Sheffield. He had the BBC in tow.

It includes a near £1 Billion support package for Green Energy manufacturers

https://www.reuters.com/world/uk/uks-hunt-commits-45-billion-pounds-manufacturing-investment-2023-11-17/

https://twitter.com/faisalislam/status/1725565560426000539?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

https://www.linkedin.com/feed/update/urn:li:activity:7131636358187491328

https://x.com/jeremy_hunt/status/1725809279775506630?s=46&t=k9HTIc9DJ4B89UjXP3BkCw“

Enquiries:

XP Power

Gavin Griggs, Chief Executive Officer +44 (0)118 984 5515

Matt Webb, Chief Financial Officer +44 (0)118 984 5515

Citigate Dewe Rogerson

Kevin Smith/Lucy Gibbs +44 (0)207 638 9571

Griggs and Webb can go for a start, no golden handshake either, especially as shareholders have been stiffed just days before payment. Utter disgrace.

It's an utter disgrace that there's no RNS about anything that's happening here

"(Sharecast News) - Power converter solutions provider XP Power said on Friday that it has cancelled its second-quarter dividend payment following discussions with major shareholders.

Having taken account of views expressed by its major shareholders, the company has decided to cancel the second-quarter dividend of 19.0p per share, approximately £3.75m of cash expenditure, that was due to be paid to eligible shareholders on 12 October 2023.

The London-listed group said it will continue to take "all necessary internal actions" to manage its cost base and cash resources, in order to strengthen the balance sheet in the near term.

XP Power added that no further dividends will be paid in respect of the 2023 financial year but said it "recognises the importance of dividends to shareholders" and will recommence paying dividends "as soon as appropriate".

Chairman Jamie Pike said: "Notwithstanding these short-term challenges, the board believes XP has a positive longer-term outlook and we are fully focused on ensuring that the group realises its potential."

As of 0935 BST, XP shares were down 5.56% at 764.0p.

Reporting by Iain Gilbert at Sharecast.com

As at 10:35, 04 October 2023:

Total sells value: c.£3,100 (c.82% of trades)

Total buys value: c.£13,750 (c.18% of trades)

Share price movement: -7.11%

WHY?!