HSBC - DEALINGS DISCLOSURE - XP Power Limited


PROPOSED ACQUISITION OF XP POWER LIMITED

DEALINGS DISCLOSURE

  1. 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. 

  1. 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 DealingName of Relevant Entity and (if different) name of the ultimate beneficial owner or controllerDescription of SecurityNature of TransactionNumber of Shares / UnitsPrice
(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 / SELLProduct TypeNature of DealingHighestLowest
21-May-2024Global Markets of HSBC Bank plcXP Power LimitedSellEquityHedging of Delta 1 products created as a result of wholly unsolicited client-driven orders29029.1929.5328.788,465.10N/AN/A
21-May-2024Global Markets of HSBC Bank plcXP Power LimitedBuyEquityHedging of Delta 1 products created as a result of wholly unsolicited client-driven orders19,56029.0429.0429.04568,022.40N/AN/A

Dealings in Derivatives

Date of DealingName of Relevant Entity and (if different) name of the ultimate beneficial owner or controllerDescription of SecurityNature of TransactionNumber of shares to which the Derivatives relateMaturity [Date]/ [Period]Closing Out Date (if applicable)Reference Price (SGD)Total Amount [Paid] / [Received]
(SGD)
BUY / SELLProduct TypeNature of Dealing
21-May-2024Global Markets of HSBC Bank plcXP Power LimitedBuyEquity SwapCreation of Delta 1 products from wholly unsolicited client-driven orders29029-Aug-2025N/A29.198,465.10
21-May-2024Global Markets of HSBC Bank plcXP Power LimitedSellEquity SwapClosing / 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 dealing19,56008-Feb-202821-May-202429.04568,022.40

Securities Borrowing and Lending Transactions

Date of DealingName of Relevant Entity and (if different) name of the ultimate beneficial owner or controllerDescription of SecurityNature of TransactionNumber of SecuritiesDate Securities ReturnedResultant total number of Securities owned or controlledResultant percentage of Securities owned or controlled
BORROW / LEND / RETURNProduct Type
21-May-2024Global Markets of HSBC Bank plcXP Power LimitedReturnEquity509 

21-May-2024
 

14,539
 

0.0006%