In accordance with Listing Rule 9.6.14, XP Power announces that it has been advised that Duncan Penny, Chief Executive Officer of the Company, has been appointed as a non-executive director of The Vitec Group plc with effect from 1 September 2018.
|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|
Note to editors
XP designs and manufactures power controllers, the essential sub assembly in every piece of electrical equipment that converts the power from the electricity grid into the right form for the equipment to function. XP typically designs in power control solutions into the end products of major blue chip OEMs, with a focus on the industrial (circa 39% of sales), healthcare (circa 31% sales) and technology (circa 30% of sales) sectors. Once designed into a program, XP has a revenue annuity over the life cycle of the customer's product which is typically 5 to 7 years depending on the industry sector. XP has invested in research and development and its own manufacturing facilities in China, North America and Vietnam, to develop a range of up to date products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency. Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP serves a global blue chip customer base from 27 locations in Asia, Europe and North America.