19
February 2024
Ultimate Products
plc
("Ultimate Products",
"Company" or "the
Group")
Exercise of SAYE
options
PDMR
dealings
and
EBT
Shareholding
Ultimate Products, the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, est.1760) and Beldray (est.1872), announces that
on 19 February 2024, under its Save As You Earn Scheme (the "SAYE
Scheme"), 24,356 share options were exercised at a price of 73.90
pence per option and were satisfied by the transfer of
24,356 existing ordinary
shares of 0.25 pence in the Company ("Shares") held by the UP
Global Sourcing Employee Benefit Trust (the "EBT").
Pursuant to the above, Katie
Maxwell, a person discharging managerial responsibilities
("PDMRs"), exercised options over 12,178 Shares, further details of
which are set out at the end of this announcement.
Following the above transactions,
the EBT holds 2,387,203 Shares, representing approximately 2.7% of
the Company's issued share capital.
The current issued share capital of
the Company remains 89,312,457 Shares. This
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in the
Company, under the Disclosure Guidance and Transparency Rules of
the FCA.
For
more information, please contact:
Ultimate Products +44 (0) 161 627
1400
Andrew Gossage, CEO
Simon Showman, CCO
Chris Dent, CFO
Shore Capital +44 (0) 20 7408
4090
Mark Percy
Malachy McEntyre
David Coaten
Iain Sexton
Isobel Jones
Cavendish Capital Markets Limited +
44 (0)20 7220 0500
Carl Holmes (Corporate
Finance)
Matt Goode (Corporate
Finance)
Abigail Kelly (Corporate
Finance)
Charlie Combe (ECM)
Powerscourt +44 (0) 207 250
1446
Rob Greening
Sam Austrums
Oliver Banks
Pursuant to the notification obligations in accordance with
Article 19 of the Market Abuse Regulation (MAR)
1.
|
Details of PDMR / person closely associated with them
('PCA')
|
a)
|
Name
|
Katie Maxwell
|
2.
|
Details of PDMR / person closely associated with them
('PCA')
|
a)
|
Position / status
|
Trading Director
|
b)
|
Initial notification /
amendment
|
Initial notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Ultimate Products Plc
|
b)
|
LEI
|
213800Q5GWTVIW6KJW33
|
4.
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
|
c)
|
Description of the financial
instrument
|
Ordinary shares of 0.25p each in the
capital of Ultimate Products plc ("Shares")
ISIN: GB00BYX7MG58
|
d)
|
Nature of the transaction
|
Exercise of options over
Shares pursuant to the Company's
Save As You Earn Scheme
|
e)
|
Price and volume
|
|
Price (PENCE)
|
Volume
|
Exercise of Options
|
73.90
|
12,178
|
|
f)
|
Aggregated information
Aggregated volume
Price
|
Option Shares: as above
|
g)
|
Date of the transaction
|
19 February 2024
|
h)
|
Place of the transaction
|
Exercise of options
off-market
|
Notes to Editors
Ultimate Products is the owner of a
number of leading homeware brands including Salter (the UK's oldest
houseware brand, established in 1760) and Beldray (a laundry, floor
care, heating and cooling brand that was established in 1872).
According to its market research, nearly 80% of UK households own
at least one of the Group's products.
Ultimate Products sells to over 300
retailers across more than 40 countries, and specialises in five
product categories: Small Domestic Appliances; Housewares; Laundry;
Audio; and Heating and Cooling. Other brands include Progress
(cookware and bakeware), Kleeneze (laundry and floorcare), Petra
(small domestic appliances) and Intempo (audio).
The Group's products are sold to a
broad cross-section of both large national and international
multi-channel retailers as well as smaller national retail chains,
incorporating discount retailers, supermarkets, general retailers
and online retailers.
Founded in 1997, Ultimate Products
employs over 370 staff, a significant number of whom have joined
via the Group's graduate development scheme, and is headquartered
in Oldham, Greater Manchester, where it has design, sales,
marketing, buying, quality assurance, support functions and
warehouse facilities across two sites. Manor Mill, the Group's head
office, includes a spectacular 20,000 sq ft showroom that showcases
each of its brands. In addition, the Group has an office and
showroom in Guangzhou, China and Paris, France.
Please note that Ultimate Products is
not the owner of Russell Hobbs. The Company has licence agreements
in place granting it an exclusive licence to use the "Russell
Hobbs" trademark for cookware (NB this does not include Russell
Hobbs electrical appliances).
For further information, please
visit www.upplc.com