Grant of LTIP awards
Updated : 07:06
20 November 2017
XP Power Limited ("XP" or the "Company")
Grant of Long Term Incentive Plan (LTIP) awards
The 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").
The 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.
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Gavin Griggs
| |
2. | Reason for the notification | ||
(a) | Position/status | Gavin Griggs - 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. | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
Exercisable at nominal price of 1 pence per Ordinary Share | 8,000 | ||
(e) | Aggregated information - Aggregated volume
- Price |
TOTAL 8,000
Exercisable at nominal price of 1 pence per Ordinary Share | |
(f) | Date of the transaction | 17 November 2017 | |
(g) | Place of the transaction | n/a | |
-Ends-
Enquiries:
XP Power
Duncan Penny, Chief Executive Officer +44 (0)118 976 5086
Gavin Griggs, Chief Financial Officer +44 (0)118 976 5154
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman
This information is provided by RNS