Business
Grant of LTIP awards
Grant of LTIP awards.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \nRNS Number : 8997W XP Power Limited 20 November 2017 \n\n20 November 2017\nXP Power Limited (\"XP\" or the \"Company\")\nGrant of Long Term Incentive Plan (LTIP) awards\nThe Company announces that on 17 November 2017, Gavin Griggs, Chief Financial Officer was awarded a nominal priced option over 8,000 ordinary shares of 1p each in the Company (\"Ordinary Shares\"), under the XP Power Limited Long Term Incentive Plan 2017 (the \"Award\").\nThe vesting of the Award is conditional on meeting challenging performance conditions measured over a three-year period as described in the Company's 2016 Annual Report, with 50% vesting on the third anniversary of the date the Award was made and 50% vesting after a further one year deferral period.\n\n\n\n\n1.\n\n\nDetails of the person discharging managerial responsibilities/person closely associated\n\n\n\n\n(a)\n\n\nName\n\n\nGavin Griggs\n \n\n\n\n\n2.\n\n\nReason for the notification\n\n\n\n\n(a)\n\n\nPosition/status\n\n\nGavin Griggs - Chief Financial Officer\n\n\n\n\n(b)\n\n\nInitial notification/ Amendment\n\n\nInitial notification\n\n\n\n\n3.\n\n\nDetails of the issuer\n\n\n\n\n(a)\n\n\nName\n\n\nXP Power Limited\n\n\n\n\n(b)\n\n\nLEI\n\n\n213800I7RWQ3FV72EZ26\n \n\n\n\n\n4.\n\n\nDetails 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\n(a)\n\n\nDescription of the Financial Instrument \n\n\nOrdinary Shares of £0.01 each in the Company\n\n\n\n\n(b)\n\n\nIdentification code of the Financial Instrument\n\n\nSG9999003735\n\n\n\n\n(c)\n\n\nNature of the transaction\n\n\nAward of options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017. \n\n\n\n\n(d)\n\n\nPrice(s) and volume(s)\n\n\nPrice(s)\n\n\nVolume(s)\n\n\n\n\n\n\n\n\n\n\nExercisable at nominal price of 1 pence per Ordinary Share\n\n\n8,000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(e)\n\n\nAggregated information\n- Aggregated volume\n \n \n- Price\n\n\n \n \nTOTAL &n...