20 October 2006
XP Power plc
("XP" or "the Group")
Acquisition of XP Power (S) Pte Limited ("XP Singapore")
XP, one of the world's leading providers of power supply solutions to the
electronics industry, announces the acquisition of the remaining 50% of the
issued share capital of XP Power (S) Pte Limited ("XP Singapore") that it does
not already own for a consideration of Singapore Dollars $3,006,000
(approximately £1,022,500) in cash.
XP Singapore is XP's Asian sales channel.
For the year ended 31 December 2005, XP Singapore had a profit after tax of
US$214,899 (approximately £115,500). The net assets acquired are expected to
have a fair value of approximately US$916,000 (approximately £492,000) of which
US$800,000 (approximately £430,000) is expected to be cash.
The Directors of XP believe that the acquisition of XP Singapore is an
important step towards gaining further coverage and building a stronger
presence in Asia which is becoming increasingly important to the Group.
- Ends -
Enquiries:
XP Power plc 0118 984 5515
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer
Weber Shandwick Square Mile 020 7067 0700
Nick Dibden
Notes to editors:
XP Power plc provides power supply solutions to the electronics industry.
All electronic equipment needs a power supply. Power supplies convert the
incoming AC supply into various levels of DC voltages to drive electronic
components and sub-assemblies within the end user's equipment. XP Power
segments its business into Communications, Defence and Avionics, Industrial and
Medical. By servicing these markets XP Power provides investors with access to
technology and industrial sectors of the North American and European
electronics market.
The market is highly fragmented and made up of a large number of small to
medium sized Original Equipment Manufacturers who source standard and modified
standard power supplies from several hundred power supply companies.
For further information, please visit www.xppower.com
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