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XP POWER LTD - Result of AGM

18 April 2023

XP Power Limited

("XP Power" or "the Company")

Result of Annual General Meeting

The Annual General Meeting of XP Power Limited was held at 19 Tai Seng Avenue, #07-01, Singapore 534054 on 18 April 2023, commencing at 5.00 p.m. Singapore time. All resolutions were unanimously passed by a show of hands.

For information, the following table shows the total votes cast by proxy voting on the resolutions that were put to the meeting. The total number of ordinary shares in issue is 19,734,796 (excluding shares held in treasury).

Resolution number

Resolution description

In Favour

Against

Withheld

Votes

%age

Votes

%age

Votes

1

To receive the reports and audited accounts for the year ended 31 December 2022

15,125,851

99.99

325

0.01

37,502

2

To declare and approve a final dividend of 36.0 pence per ordinary share for the year ended 31 December 2022

15,162,028

99.99

650

0.01

1,000

3

To re-elect Jamie Pike as a Director

15,070,364

99.56

66,280

0.44

27,034

4

To re-elect Andy Sng as a Director

15,097,042

99.57

64,602

0.43

2,034

5

To re-elect Gavin Griggs as a Director

15,036,886

99.57

64,602

0.43

62,190

6

To re-elect Polly Williams as a Director

15,011,735

99.57

64,603

0.43

87,340

7

To re-elect Pauline Lafferty as a Director

14,808,963

97.67

352,680

2.33

2,035

8

To elect Amina Hamidi as a Director

15,097,186

99.57

64,558

0.43

1,934

9

To elect Sandra Breene as a Director

15,097,186

99.57

64,558

0.43

1,934

10

To reappoint PwC LLP as Auditor of the Company

15,036,517

99.17

125,836

0.83

1,325

11

To authorise the Directors to determine the Auditor’s remuneration

15,161,743

99.99

610

0.01

1,325

12

To receive and adopt the remuneration policy set out in the report and accounts for the year ended 31 December 2022

14,041,945

92.61

1,120,232

7.39

1,501

13

To receive and adopt the Directors’ Remuneration Report for the year ended 31 December 2022

14,727,185

97.52

375,228

2.48

61,265

14

To approve the Directors’ fees of up to £600,000

15,094,347

99.55

67,953

0.45

1,378

15

To approve and adopt the XP Power Limited Senior Managers Long Term Incentive Plan 2023

14,478,423

95.49

683,491

4.51

1,764

16

To authorise the Directors to allot shares up to two thirds of the Company’s issued share capital

12,745,261

84.06

2,417,125

15.94

1,292

17

To authorised the Directors to allot ordinary shares on a non pre-emptive basis

14,488,108

95.55

674,306

4.45

1,264

18

To authorised the Directors to allot ordinary shares on a non pre-emptive basis for acquisitions or capital investments

13,531,100

89.24

1,631,314

10.76

1,264

19

To authorise the Company to purchase its own shares

15,075,764

99.83

25,185

0.17

62,729

Notes:

ADVERTISEMENT
  1. Resolutions 1 to 16 (inclusive) were passed as ordinary resolutions and resolutions 17 to 19 (inclusive) were passed as special resolutions. The full text of the resolutions is set out in the Notice of Annual General Meeting, a copy of which is on the Company's website https://corporate.xppower.com/investors/general-meetings and has also been made available for inspection through the National Storage Mechanism which can be found at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

  2. The total votes cast amounted to 15,163,678, representing 76.84 per cent of the Company’s issued share capital (excluding shares held in treasury).

  3. Any proxy appointments which gave discretion to the Chairman have been included in the “Votes In Favour” total.

  4. A “Vote Withheld” is not a vote in law and is not counted in the calculation of the proportion for the “Votes In Favour” and “Votes Against” a resolution.

Enquiries:

XP Power

Gavin Griggs, Chief Executive Officer +44 (0)118 976 5515

David Stibbs, Interim Chief Financial Officer +44 (0)118 976 5515

Citigate Dewe Rogerson

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