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J.P. Morgan Securities Asia Private Limited disclosed dealings by its associate, J.P. Morgan Securities PLC, in XP Power Limited securities on 11 June 2024, in the context of Advanced Energy Industries' proposed £19.50 per share acquisition of XP Power. J.P. Morgan Securities PLC bought 3,068 common shares between £15.51 and £15.84 and sold 223 common shares at £15.62, while also selling swaps relating to 2,865 common shares, resulting in an equivalent holding of 82,054 shares or 0.35% of XP Power Limited.
| Date | 12 Jun 2024 |
| Time | 09:43:08 |
| Category | Acquisitions and alliances |
| ID | 1433S |
PROPOSED ACQUISITION OF XP POWER LIMITED
DEALINGS DISCLOSURE
1. INTRODUCTION
J. P. Morgan Securities Asia Private Limited ("JPM") 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, JPM, together with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, 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.
2. 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, JPM wishes to announce the dealings by its associates in the relevant securities of the Company on 11 June 2024, details of which are set out in the Schedule hereto.
Issued by
J. P. Morgan Securities Asia Private Limited
12 June 2024
Singapore
Schedule
For Dealings in shares in the Company
|
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 |
Price (GBP) |
Highest and Lowest Prices Paid or Received (GBP) |
Total Amount (Paid)/ |
Resultant Total of Equivalent |
% of Resultant Total of Equivalent shares |
|||
|
|
|
|
Buy/Sell |
Product Type |
Nature of Dealing |
|
|
Highest |
Lowest |
|
|
|
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Riskless Principal |
45 |
15.84 |
15.84 |
15.58 |
712.80 |
79,254 |
0.33% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Riskless Principal |
58 |
15.58 |
15.84 |
15.58 |
903.64 |
79,312 |
0.33% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Riskless Principal |
120 |
15.56 |
15.84 |
15.58 |
1,867.20 |
79,432 |
0.34% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Riskless Principal |
(223) |
15.62 |
15.62 |
15.62 |
3,483.99 |
79,209 |
0.33% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Swap Hedge |
781 |
15.61 |
15.61 |
15.61 |
12,193.84 |
79,990 |
0.34% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Swap Hedge |
1,756 |
15.51 |
15.51 |
15.51 |
27,231.61 |
81,746 |
0.35% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Swap Hedge |
41 |
15.56 |
15.56 |
15.56 |
637.96 |
81,787 |
0.35% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Swap Hedge |
179 |
15.56 |
15.56 |
15.56 |
2,785.24 |
81,966 |
0.35% |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Buy |
Common Shares |
Swap Hedge |
88 |
15.64 |
15.64 |
15.64 |
1,376.32 |
82,054 |
0.35% |
For 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 (GBP) |
Total Amount (Paid)/ |
||
|
|
|
|
Buy/Sell |
Product Type |
Nature of Dealing |
|
|
|
|
|
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(88) |
2-Nov-28 |
- |
15.64 |
1,376.32 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(13) |
31-Jul-24 |
- |
15.61 |
202.97 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(55) |
31-Jul-24 |
- |
15.61 |
858.72 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(113) |
31-Jul-24 |
- |
15.61 |
1,764.28 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(600) |
31-Jul-24 |
- |
15.61 |
9,367.87 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(125) |
2-Jul-25 |
- |
15.56 |
1,945.15 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(19) |
2-Jul-25 |
- |
15.56 |
295.66 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(1,756) |
2-Jul-25 |
- |
15.51 |
27,231.61 |
|
11-Jun-24 |
J.P. MORGAN SECURITIES PLC (dealing as principal) |
XP Power Limited |
Sell |
Common Shares |
Swap |
(76) |
2-Jul-25 |
- |
15.56 |
1,182.65 |