Last checked at 26 Jun 2007 09:25
26 June 2007 XP Power plc ("XP" or "the Group") Notification of interests of directors
XP, one of the world's leading providers of power supply solutions to the mid-tier of the electronics industry, announces the following share dealings by directors.
The following directors have purchased shares at a market value of 507.25 pence per share from the Group's Employee Benefit Trust on 21 June 2007.
Name of Director Number of % of issued Total holding Total shares class acquired following this percentage acquired notification holding of issued class following this notification Mike Laver 25,000 0.13% 176,000 0.91% Mickey Lynch 25,000 0.13% 75,000 0.39%
The principal terms relating to these purchases are as follows:
* The trustees of the Group's Employee Benefit Trust offered shares to the directors named above on 24 May 2007 based on the mid market closing price on 25 April 2007. * The payment for the shares is deferred until the shares are sold. * The directors are not able to sell the shares for a period of 4 years or unless there is a take-over, reconstruction or de-merger of the Group. * The directors will still be liable for the payment of the shares even if the market value falls below 507.25 pence per share. * The trustees have the right to re-purchase the shares from the directors at the lower of market value or 507.25 pence per share if the director leaves the Group within 4 years.
The Group considers that the above arrangement aligns the interests of the directors with those of the shareholders without diluting shareholders as option arrangements would.
- ends - Enquiries:
XP Power Limited +65 6411 6900
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer
Weber Shandwick Financial +44 (0)20 7067 0700
Terry Garrett/Nick Dibden/Hannah Marwood
Notes to editors:
XP Power plc provides power supply solutions to the electronics industry.
All electronic equipment needs a power supply. Power supplies convert the incoming AC supply into various levels of DC voltages to drive electronic components and sub-assemblies within the end user's equipment. XP Power segments its business into Communications, Defence and Avionics, Industrial and Medical. By servicing these end markets XP Power provides investors with access to the technology and industrial sectors of the global electronics market.
The market is highly fragmented and made up of a large number of small to medium sized Original Equipment Manufacturers who source standard and modified standard power supplies from several hundred power supply companies.
For further information, please visit www.xppower.com
XP POWER PLC