Last checked at 2 May 2019 07:00
XP POWER LTD - Director/PDMR ShareholdingXP POWER LTD - Director/PDMR Shareholding
PR Newswire
London, May 2
2 May 2019
XP Power Limited
(“XP Power” or the “Company”)
Deferred Bonus Plan – Vesting of 2016 Awards
The Company announces that on 1 May 2019, the following transactions were undertaken in ordinary shares of the Company in connection with the maturity of the 2016 Deferred Bonus Plan (“the Plan”). In accordance with the Company’s Remuneration Policy each director deferred 50% of their 2016 annual cash bonus into options over shares in the Company, with a vesting period of two years.
| Director | Number of shres under option | Number of shares exercised | Number of shares sold |
| Duncan Penny | 1,776 | 1,776 | 1,776 |
| Andy Sng | 514 | 514 | 514 |
Following the transactions, Mr Penny’s and Mr Sng’s interests in the Ordinary Shares of the Company totalled 206,990 and 25,000 respectively.
Enquiries:
XP Power
Duncan Penny, Chief Executive Officer +44 (0)118 976 5155
Gavin Griggs, Chief Financial Officer +44 (0)118 976 5155
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman
Note to editors
XP Power designs and manufactures power controllers, the essential hardware component in every piece of electrical equipment that converts power from the electricity grid into the right form for equipment to function.
XP Power typically designs power control solutions into the end products of major blue-chip OEMs, with a focus on the industrial (circa 44% of sales), healthcare (circa 22% of sales), semiconductor manufacturing (circa 24% of sales) and technology (circa 10% of sales) sectors. Once designed into a programme, XP Power has a revenue annuity over the life cycle of the customer’s product which is typically 5 to 7 years depending on the industry sector.
XP Power has invested in research and development and its own manufacturing facilities in China and Vietnam, to develop a range of tailored products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency.
Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP Power serves a global blue-chip customer base from 29 locations in Europe, North America and Asia.
For further information, please visit xppower.com