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

ScheduleDealings on 21 May 2024

 Dealings in XP Power Limited shares

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 / Units Price(SGD) Highest andLowest PricesPaid or Received (SGD) Total Amount [Paid] / [Received](SGD) Resultant Total of EquivalentShares / Units ownedor controlled bythe associate and byinvestmentaccounts underthe discretionary management of the associate % ofResultantTotal ofEquivalent Shares / Units
BUY / SELL Product Type Nature of Dealing Highest Lowest
21-May-2024 Global Markets of HSBC Bank plc XP Power Limited Sell Equity Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders 290 29.19 29.53 28.78 8,465.10 N/A N/A
21-May-2024 Global Markets of HSBC Bank plc XP Power Limited Buy Equity Hedging of Delta 1 products created as a result of wholly unsolicited client-driven orders 19,560 29.04 29.04 29.04 568,022.40 N/A N/A

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 (SGD) Total Amount [Paid] / [Received](SGD)
BUY / SELL Product Type Nature of Dealing
21-May-2024 Global Markets of HSBC Bank plc XP Power Limited Buy Equity Swap Creation of Delta 1 products from wholly unsolicited client-driven orders 290 29-Aug-2025 N/A 29.19 8,465.10
21-May-2024 Global Markets of HSBC Bank plc XP Power Limited Sell Equity Swap Closing / 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 dealing 19,560 08-Feb-2028 21-May-2024 29.04 568,022.40

Securities Borrowing and Lending Transactions

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 Securities Date Securities Returned Resultant total number of Securities owned or controlled Resultant percentage of Securities owned or controlled
BORROW / LEND / RETURN Product Type
21-May-2024 Global Markets of HSBC Bank plc XP Power Limited Return Equity 509  21-May-2024  14,539  0.0006%