PROPOSED ACQUISITION OF XP POWER LIMITED
DEALINGS DISCLOSURE
- INTRODUCTION
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch ("HSBC") refers to the non-binding cash proposal (the "Proposal") by Advanced Energy Industries, Inc. (the "Offeror") to acquire the entire share capital of XP Power Limited (the "Company") for a cash consideration of £19.50 per share, as announced on 21 May 2024 (the "Announcement").
As stated in the Announcement, HSBC, together with J. P. Morgan Securities Asia Private Limited, are the joint financial advisers to the Offeror in respect of the Proposal.
All capitalised terms used and not defined herein shall have the same meanings given to them in the Joint Announcement.
- DISCLOSURE OF DEALINGS
Pursuant to Rule 12.1 of the Singapore Code on Take-overs and Mergers (the "Code") and the Practice Statement on the Exemption of Connected Fund Managers and Principal Traders under the Code, HSBC wishes to announce the dealings by its associates in the relevant securities of the Company on 21 May 2024, details of which are set out in the Schedule hereto.
Issued by
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch
22 May 2024
Schedule
Dealings on 21 May 2024
Dealings in XP Power Limited shares
| Date of Dealing | Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller | Description of Security | Nature of Transaction | Number of Shares / Units | Price (SGD) | Highest and Lowest Prices Paid or Received (SGD) | Total Amount [Paid] / [Received] (SGD) | Resultant Total of Equivalent Shares / Units owned or controlled by the associate and by investment accounts under the discretionary management of the associate | % of Resultant Total of Equivalent Shares / Units | |||
| BUY / SELL | Product Type | Nature of Dealing | Highest | Lowest | ||||||||
| 21-May-2024 | Global Markets of HSBC Bank plc | XP Power Limited | Sell | Equity | Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders | 290 | 29.19 | 29.53 | 28.78 | 8,465.10 | N/A | N/A |
| 21-May-2024 | Global Markets of HSBC Bank plc | XP Power Limited | Buy | Equity | Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders | 19,560 | 29.04 | 29.04 | 29.04 | 568,022.40 | N/A | N/A |
Dealings in Derivatives
| Date of Dealing | Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller | Description of Security | Nature of Transaction | Number of shares to which the Derivatives relate | Maturity [Date]/ [Period] | Closing Out Date (if applicable) | Reference Price (SGD) | Total Amount [Paid] / [Received] (SGD) | ||
| BUY / SELL | Product Type | Nature of Dealing | ||||||||
| 21-May-2024 | Global Markets of HSBC Bank plc | XP Power Limited | Buy | Equity Swap | Creation of Delta 1 products from wholly unsolicited client-driven orders | 290 | 29-Aug-2025 | N/A | 29.19 | 8,465.10 |
| 21-May-2024 | Global Markets of HSBC Bank plc | XP Power Limited | Sell | Equity Swap | Closing / flattening / unwinding of proprietary positions arising from unsolicited client-driven dealings. I confirm this was done no later than the close of the morning trading session on the trading day following the orginating client-driven dealing | 19,560 | 08-Feb-2028 | 21-May-2024 | 29.04 | 568,022.40 |
Securities Borrowing and Lending Transactions
| Date of Dealing | Name of Relevant Entity and (if different) name of the ultimate beneficial owner or controller | Description of Security | Nature of Transaction | Number of Securities | Date Securities Returned | Resultant total number of Securities owned or controlled | Resultant percentage of Securities owned or controlled | |
| BORROW / LEND / RETURN | Product Type | |||||||
| 21-May-2024 | Global Markets of HSBC Bank plc | XP Power Limited | Return | Equity | 509 | 21-May-2024 | 14,539 | 0.0006% |
