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XP POWER LTD - Grant of LTIP and RSP awards

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13 May 2021

XP Power Limited (“XP” or the “Company”)

Grant of Long Term Incentive Plan (LTIP) and Restricted Share Plan (RSP) awards

The Company announces that on 10 May 2021, Oskar Zahn, Chief Financial Officer was awarded a nominal priced option over 8,024 ordinary shares of 1p each in the Company ("Ordinary Shares") as detailed below, under the XP Power Limited Long Term Incentive Plan 2017 (the "LTIP’s") approved by shareholders on 19 April 2017 and restricted shares, under the XP Power Limited Restricted Share Plan 2020 (the “RSP’s”) approved by shareholders on 21 April 2020, over 1,203 ordinary shares of 1p each in the Company (“Ordinary Shares”).

The vesting of the LTIP’s is conditional on meeting performance conditions measured over a three-year period as described below.

The RSP award is not subject to performance conditions and will vest three years after the date of grant. RSP awards are subject to a two year holding period post vesting.

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Oskar Zahn

2.

Reason for the notification

(a)

Position/status

Chief Financial Officer

(b)

Initial notification/ Amendment

Initial notification

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 the Financial Instrument

Ordinary Shares of £0.01 each in the Company

(b)

Identification code of the Financial Instrument

SG9999003735

(c)

Nature of the transaction

Award of options over Ordinary Shares as part of 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 volume(s)

Price(s)

Volume(s)

Exercisable at nominal price of 1 pence per Ordinary Share

8,024

(e)

Aggregated information
- Aggregated volume


- Price


N/A

(f)

Date of the transaction

10 May 2021

(g)

Place of the transaction

n/a

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Oskar Zahn

2.

Reason for the notification

(a)

Position/status

Chief Financial Officer

(b)

Initial notification/ Amendment

Initial notification

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 the Financial Instrument

Ordinary Shares of £0.01 each in the Company

(b)

Identification code of the Financial Instrument

SG9999003735

(c)

Nature of the transaction

Award of options over Ordinary Shares as part of the XP Power Limited Restricted Share Plan 2020

(d)

Price(s) and volume(s)

Price(s)

Volume(s)

Exercisable at nominal price of 1 pence per Ordinary Share

1,203

(e)

Aggregated information
- Aggregated volume


- Price


N/A

(f)

Date of the transaction

10 May 2021

(g)

Place of the transaction

n/a

-Ends-

Enquiries:

XP Power

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

Oskar Zahn, Chief Financial Officer +44 (0)118 984 5515

Citigate Dewe Rogerson +44 (0)20 7638 9571

Kevin Smith/Jos Bieneman