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XP Power Limited announced on 24 September 2026 the release of bonds and associated funds related to the Comet litigation, with cash returned to the Group. The total cash received by the Group was $66.8 million (£50.2 million). XP Power will report its Q3 trading update on 20 October 2026.
| Date | 24 Sept 2026 |
| Time | 12:19:48 |
| Category | Corporate updates |
| ID | 2035W |
24 September 2026
XP Power Limited
Comet litigation bond released
Cash returned to Group, significantly reducing net debt
XP Power Limited ("XP Power" or "the Group"), one of the world's leading developers and manufacturers of critical power control solutions for the Semiconductor Manufacturing Equipment, Healthcare and Industrial Technology sectors, confirms the release of bonds and associated funds related to the Comet litigation with the cash returned to the Group.
The total cash received by the Group was $66.8m (£50.2m).
The Group will continue to defend its position and will provide further updates as appropriate.
The Group will report its Q3 trading update on the 20 October 2026.
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Enquiries: |
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XP Power Gavin Griggs, Chief Executive Officer |
+44 (0)118 976 5155 |
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Matt Webb, Chief Financial Officer |
+44 (0)118 976 5155 |
XP Power designs and manufactures power controllers, the essential hardware component in every piece of electrical equipment that converts power from the electricity grid into the right form for equipment to function. Power controllers are critical for optimal delivery in challenging environments but are a small part of the overall customer product cost.
XP Power designs power control solutions into the end products of major blue-chip OEMs, with a focus on the Semiconductor Manufacturing Equipment (c.40% of sales in H1 2026), Industrial Technology (c.41% of sales in H1 2026) and Healthcare (c.19% sales in H1 2026) sectors. Once designed into a programme, XP Power has a revenue annuity over the life cycle of the customer's product which is typically five to seven years depending on the industry sector. XP Power has invested in research and development and its own manufacturing facilities in Vietnam, Malaysia, North America and Germany, to develop a range of tailored 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 Power is a constituent of the FTSE 250 Index. XP Power serves a global blue-chip customer base from over 30 locations in Europe, North America, and Asia.
For further information, please visit www.xppowerplc.com