Result of AGM

XP Power Limited

23 April 2026

 

23 April 2026

XP Power Limited

("XP Power" or "the Company")

Result of Annual General Meeting

The Annual General Meeting of XP Power Limited was held at 19 Tai Seng Avenue, #07-01, Singapore 534054 on 23 April 2026, commencing at 5.00 p.m. Singapore time. All of the resolutions were voted upon by poll and were approved by shareholders.

The total number of ordinary shares in issue is 28,032,178 (excluding shares held in treasury). The results of the poll for each resolution are as follows:

Resolution number	Resolution description	In Favour			Against			Withheld
		Votes	%age		Votes	%age		Votes
1	To receive the reports and audited accounts for the year ended 31 December 2025	23,736,310	99.88		28,417	0.12		2,421
2	To re-elect Matt Webb as a Director	23,754,073	99.95		11,825	0.05		1,250
3	To re-elect Andy Sng as a Director	23,754,073	99.95		11,825	0.05		1,250
4	To re-elect Sandra Breene as a Director	23,523,262	98.98		242,086	1.02		1,800
5	To re-elect Jamie Pike as a Director	23,151,511	97.42		613,837	2.58		1,800
6	To re-elect Gavin Griggs as a Director	23,425,012	99.98		3,886	0.02		338,250
7	To re-elect Pauline Lafferty as a Director	18,871,221	79.41		4,894,127	20.59		1,800
8	To re-elect Daniel Shook as a Director	23,213,199	97.68		552,149	2.32		1,800
9	To re-elect Charlotta Ginman as a Director	22,072,509	92.88		1,692,839	7.12		1,800
10	To reappoint PwC LLP as Auditor of the Company	23,575,572	99.19		191,576	0.81		0
11	To authorise the Directors to determine the Auditor's remuneration	23,664,171	99.57		102,977	0.43		0
12	To receive and adopt the remuneration policy set out in the annual report and accounts for the year ended 31 December 2025	23,451,717	99.19		192,454	0.81		122,977
13	To receive and adopt the Directors' Remuneration Report for the year ended 31 December 2025	17,790,341	76.13		5,579,284	23.87		397,523
14	To approve the Directors' fees of up to £600,000	23,760,365	99.97		6,151	0.03		632
15	To authorise the Directors to allot shares up to two thirds of the Company's issued share capital	19,408,533	81.66		4,358,540	18.34		75
16	To authorise the Directors to allot ordinary shares on a non pre-emptive basis	23,625,468	99.40		141,605	0.60		75
17	To authorise the Directors to allot ordinary shares on a non pre-emptive basis for acquisitions or capital investments	22,707,525	95.54		1,059,548	4.46		75
18	To authorise the Company to purchase its own shares	23,762,565	99.98		4,583	0.02		0

The Board notes that Resolution 7, the re-appointment of Pauline Lafferty was passed with 20.59% of votes cast against, and Resolution 13, the advisory vote on the Remuneration Report was passed with 23.87% of votes cast against. The Company takes the outcome of shareholder votes extremely seriously and will engage with shareholders to fully understand their concerns in relation to the number of votes recorded not in favour of resolutions 7 and 13 to ensure their feedback continues to inform the Company's approach to remuneration matters. An update on the engagement with shareholders and on any action taken as a result, will be published within six months of today's AGM, in accordance with the UK Corporate Governance Code.

Notes:

1.   Resolutions 1 to 15 (inclusive) were passed as ordinary resolutions. Resolutions 16 to 18 (inclusive) were passed as special resolutions. The full text of the resolutions is set out in the Notice of Annual General Meeting, a copy of which is on the Company's website https://corporate.xppower.com/investors/general-meetings and has also been made available for inspection through the National Storage Mechanism which can be found at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

2.   The total votes cast amounted to 23,767,148, representing 84.79 per cent. of the Company's issued share capital (excluding shares held in treasury).

3.   Any proxy appointments which gave discretion to the Chairman have been included in the "Votes In Favour" total.

4.   A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion for the "Votes In Favour" and "Votes Against" a resolution.

Enquiries:

XP Power
Ruth Cartwright, Company Secretary	[phone]
CDR
Claire De Groot	[phone]

 

END