Business
Grant of LTIP and RSP awards
Grant of LTIP and RSP awards.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \n 13 May 2021\n XP Power Limited (“XP” or the “Company”)\n Grant of Long Term Incentive Plan (LTIP) and Restricted Share Plan (RSP) awards\n 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”).\n The vesting of the LTIP’s is conditional on meeting performance conditions measured over a three-year period as described below.\n 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. \n \n \n \n 1.\n \n \n Details of the person discharging managerial responsibilities/person closely associated\n \n \n \n (a)\n Name\n Oskar Zahn\n \n \n \n 2.\n \n \n Reason for the notification\n \n \n \n (a)\n Position/status\n Chief Financial Officer\n \n \n (b)\n Initial notification/ Amendment\n Initial notification\n \n \n \n 3.\n \n \n Details of the issuer\n \n \n \n (a)\n Name\n XP Power Limited\n \n \n (b)\n LEI\n 213800I7RWQ3FV72EZ26\n \n \n \n 4.\n \n \n 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\n \n \n \n (a)\n Description of the Financial Instrument\n Ordinary Shares of £0.01 each in the Company\n \n \n (b)\n Identification code of the Financial Instrument\n SG9999003735\n \n \n (c)\n Nature of the transaction\n 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.\n \n \n (d)\n Price(s) and volume(s)\n Price(s)\n Volume(s)\n \n \n \n \n Exercisable at nominal price of 1 pence per Ordinary Share\n 8,024\n \n \n \n \n \n \n \n \n \n \n \n \n \n (e)\n Aggregated information\n - Aggregated volume\n - Price\n \n \n N/A\n \n \n (f)\n D...