XP Power Ltd Director/PDMR Shareholding
01 June 2017 - 2:06AM
UK Regulatory
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)
XP Power (AQSE:XPP.GB)
Historical Stock Chart
From Jul 2024 to Jul 2024
XP Power (AQSE:XPP.GB)
Historical Stock Chart
From Jul 2023 to Jul 2024