4 January 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 3 January 2024, under its Save As You Earn Scheme (the "SAYE Scheme"), 348,528 share options were exercised at a price of 73.90 pence per option and were satisfied by the transfer of 348,528 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, David Bloomfield, Emma Rawley, Peter Rawley, Jennifer Stewart and Duncan Singleton, persons discharging managerial responsibilities ("PDMRs"), each exercised options over 12,178 Shares (60,890 Shares in aggregate), further details of which are set out at the end of this announcement.
Following the above transactions, the EBT holds 2,319,206 Shares, representing approximately 2.60% 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
Simon Showman, CEO
Andrew Gossage, Managing Director
Chris Dent, Chief Financial Officer
Shore Capital +44 (0) 207 408 4090
Mark Percy
David Coaten
Iain Sexton
Malachy McEntyre
Isobel Jones
Cavendish Capital Markets Limited + 44 (0)20 7220 0500
Carl Holmes
Matt Goode
Abigail Kelly
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 | David Bloomfield | ||||||
| 2. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Position / status | Supply Chain 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; | |||||||
| 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 |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
Option Shares: as above
| ||||||
| g) | Date of the transaction | 3 January 2024 | ||||||
| h) | Place of the transaction | Exercise of options off-market | ||||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Name | Emma Rawley | ||||||
| 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; | |||||||
| 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 |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
Option Shares: as above
| ||||||
| g) | Date of the transaction | 3 January 2024 | ||||||
| h) | Place of the transaction | Exercise of options off-market | ||||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Name | Peter Rawley | ||||||
| 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; | |||||||
| 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 |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
Option Shares: as above
| ||||||
| g) | Date of the transaction | 3 January 2024 | ||||||
| h) | Place of the transaction | Exercise of options off-market | ||||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Name | Jennifer Stewart | ||||||
| 2. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Position / status | Commercial 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; | |||||||
| 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 |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
Option Shares: as above
| ||||||
| g) | Date of the transaction | 3 January 2024 | ||||||
| h) | Place of the transaction | Exercise of options off-market | ||||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Name | Duncan Singleton | ||||||
| 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; | |||||||
| 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 |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
Option Shares: as above
| ||||||
| g) | Date of the transaction | 3 January 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
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