REG - AIM Ultimate Products - Schedule One - Ultimate Products PLC

Ultimate ProductsAnnouncement

Yesterday 14:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251212:nRSL2656La&default-theme=true

RNS Number : 2656L  AIM  12 December 2025

 

 

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:
 Ultimate Products plc ("Ultimate Products", the "Company" or "Group")

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :
 Manor Mill

 Victoria Street

 Chadderton

 Oldham

 Greater Manchester

 OL9 0DD

 Registered office is same as principal trading address.

 COUNTRY OF INCORPORATION:
 United Kingdom

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
 https://upplc.com/ (https://upplc.com/)

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:
 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).

 The Company is currently listed on the Equity Shares (Commercial Companies)
 category of the Official List and admitted to trading on the Main Market of
 the London Stock Exchange.

 Ultimate Products sells to over 300 retailers over 30 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 also has licence agreements granting it an exclusive licence to use
 the "Russell Hobbs" trademark for cookware and laundry (excluding Russell
 Hobbs electrical appliances).

 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 300 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 in
 Paris, France.

 The Company's main country of operation is United Kingdom.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):
 86,330,132 ordinary shares of 0.25p each ("Ordinary Shares").

 There are no restrictions on the transferability of Ordinary Shares.

 No shares will be held as treasury shares on Admission

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:
 Company's current market capitalisation: approximately £50 million.

 Capital to be raised on Admission: nil

 Expected market capitalisation on admission: approximately £50 million.

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
 Approximately 59.5 per cent.

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
 The Company's shares are currently listed on the Equity Shares (Commercial
 Companies) category of the Official List and admitted to trading on the Main
 Market of the London Stock Exchange.

 Following shareholder approval at the Company's Annual General Meeting held on
 12 December 2025, it is expected that cancellation of listing of the Company's
 ordinary shares on the Official List and cancellation of trading on the Main
 Market will occur concurrently with admission to trading of the Company's
 shares on AIM, on or around 15 January 2026

 THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)
 N

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):
 Christine Maria Adshead, Non-Executive Chair

 Andrew (Andy) John Gossage, Chief Executive Officer

 Simon Adom Showman, Founder & President

 John Christopher (Chris) Stewart Dent, Chief Financial Officer

 Robbie Ian Bell, Senior Independent Non-Executive Director

 José Carlos González-Hurtado Collado, Non-Executive Director

 Andrew Paul Milne, Independent Non-Executive Director
 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):

                        %of issued share capital pre-Admission  % of issued share capital immediately following Admission
 Simon Showman                                   21.46%                                   21.46%
 Barry Franks & Family                           11.86%                                   11.86%
 Schroder Investment Management                  13.00%                                   13.00%
 Andrew (Andy) Gossage                           9.33%                                    9.33%
 Ultimate Products Employee Benefit Trust (EBT)  3.15%                                    3.15%

 

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:
 None

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:

 (i)   31 July

 (ii)  N/A - no Admission Document (Admission to AIM to occur via AIM
 Designated Market Route)

 (iii) Unaudited interim results for the period ended 31 January 2026: by 30
 April 2026

 Audited full year results for the period ended 31 July 2026: by 31 January
 2027

 Unaudited year results for the period ended 31 January 2027: by 30 April 2027

 EXPECTED ADMISSION DATE:
 15 January 2026

 NAME AND ADDRESS OF NOMINATED ADVISER:
 Cavendish Capital Markets Limited

 One Batholomew Close

 London

 EC1A 7BL

 NAME AND ADDRESS OF BROKER:
 Cavendish Capital Markets Limited

 One Batholomew Close

 London

 EC1A 7BL

 Shore Capital Stockbrokers Limited

 Cassini House

 57 St James's Street

 London

 SW1A 1LD

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:

 N/A - quoted applicated. Admission via AIM Designated Market route.

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
 The Company currently adopts the UK Corporate Governance Code. Following
 Admission, the Company will adhere to the QCA Corporate Governance Code.

 DATE OF NOTIFICATION:
 12 December 2025

 NEW/ UPDATE:
 NEW

 QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

 THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES
 HAVE BEEN TRADED:
 Equity Shares (Commercial Companies) category of the Official List, trading on
 the Main Market of the London Stock Exchange.

 THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:
 6 March 2017

 CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS
 ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
 SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY
 BREACH:
 The Company confirms that, following due and careful enquiry, that it has
 adhered to all legal and regulatory requirements involved in having its
 securities admitted to trading on the Main Market of the London Stock
 Exchange.

 AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE
 APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING
 ITS SECURITIES SO TRADED) ARE AVAILABLE:
 https://upplc.com/investor-relations/ (https://upplc.com/investor-relations/)

 DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE
 OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:
 The Company's ongoing purpose is to provide beautiful and more sustainable
 products for every home. Ultimate Products is committed to delivering
 outstanding branded products that appeal to households across key markets. At
 the same time, the Company is dedicated to ensuring that these products are
 attractively priced - not only for consumers but also for retail partners, who
 can achieve margins equivalent to those of 'own label' ranges.

 Since IPO in 2017, Ultimate Products has grown to become a leading supplier of
 quality branded housewares, selling to many UK retailers. Ultimate Products
 attracts retailers through selling attractively priced, branded products that
 consumers want, while enabling retailers to maintain their desired retail
 margin. It is Ultimate Products' continued focus to leverage its highly
 advanced operational capabilities to turn retailers from customers into
 long-term strategic partners.

 In light of the market headwinds impacting the consumer industry over the past
 few years, the Company has and will continue to focus on operational
 enhancements to drive meaningful productivity gains across the business,
 achieved through further investment in technology, streamlining if internal
 systems and bolstering the sales function.

 Further planned improvements will support enhanced profitability as sales
 grow.

 A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF
 THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD
 FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:
 Save as disclosed in: (i) the Cancellation and Notice of General Meeting
 circular issued on 12 November 2025; and (ii) this Schedule One Announcement,
 there has been no significant change in the financial or trading position of
 the Company since 31 July 2025, being the end of the last financial period for
 which audited financial statements have been published.

 A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT
 THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT
 LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:
 The Directors have no reason to believe that the working capital available to
 the Company or the Group will be insufficient for at least 12 months from the
 date of its admission to AIM.

 DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:
 N/A

 A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
 SECURITIES:
 Settlement will continue to be through the Euroclear System for dealings in
 ordinary shares held in uncertificated form through CREST. Ordinary shares can
 also be dealt with in certificated form.

 A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
 SECURITIES:
 https://upplc.com/investor-relations/ (https://upplc.com/investor-relations/)

 INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT
 CURRENTLY PUBLIC:
 The Appendix to this Schedule 1 contains, inter alia, information equivalent
 to that required for an Admission Document and which is not already public.
 This will be available on the Company's website:

 https://upplc.com/investor-relations/corporate-literature/
 (https://upplc.com/investor-relations/corporate-literature/)

 A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT
 AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS
 PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE.  THE ACCOUNTS MUST
 BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE
 19:
 https://upplc.com/investor-relations/financial-reports/
 (https://upplc.com/investor-relations/financial-reports/)

 THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:
 There are no Ordinary Shares held in treasury.

 

 

 

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

None

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

 

(i)   31 July

 

(ii)  N/A - no Admission Document (Admission to AIM to occur via AIM
Designated Market Route)

 

(iii) Unaudited interim results for the period ended 31 January 2026: by 30
April 2026

 

Audited full year results for the period ended 31 July 2026: by 31 January
2027

 

Unaudited year results for the period ended 31 January 2027: by 30 April 2027

 

EXPECTED ADMISSION DATE:

15 January 2026

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Cavendish Capital Markets Limited

One Batholomew Close

London

EC1A 7BL

 

NAME AND ADDRESS OF BROKER:

Cavendish Capital Markets Limited

One Batholomew Close

London

EC1A 7BL

 

Shore Capital Stockbrokers Limited

Cassini House

57 St James's Street

London

SW1A 1LD

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

 

N/A - quoted applicated. Admission via AIM Designated Market route.

 

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Company currently adopts the UK Corporate Governance Code. Following
Admission, the Company will adhere to the QCA Corporate Governance Code.

 

DATE OF NOTIFICATION:

12 December 2025

 

NEW/ UPDATE:

NEW

 

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES
HAVE BEEN TRADED:

Equity Shares (Commercial Companies) category of the Official List, trading on
the Main Market of the London Stock Exchange.

 

 

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

6 March 2017

 

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS
ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY
BREACH:

The Company confirms that, following due and careful enquiry, that it has
adhered to all legal and regulatory requirements involved in having its
securities admitted to trading on the Main Market of the London Stock
Exchange.

 

 

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE
APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING
ITS SECURITIES SO TRADED) ARE AVAILABLE:

https://upplc.com/investor-relations/ (https://upplc.com/investor-relations/)

 

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE
OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

The Company's ongoing purpose is to provide beautiful and more sustainable
products for every home. Ultimate Products is committed to delivering
outstanding branded products that appeal to households across key markets. At
the same time, the Company is dedicated to ensuring that these products are
attractively priced - not only for consumers but also for retail partners, who
can achieve margins equivalent to those of 'own label' ranges.

 

Since IPO in 2017, Ultimate Products has grown to become a leading supplier of
quality branded housewares, selling to many UK retailers. Ultimate Products
attracts retailers through selling attractively priced, branded products that
consumers want, while enabling retailers to maintain their desired retail
margin. It is Ultimate Products' continued focus to leverage its highly
advanced operational capabilities to turn retailers from customers into
long-term strategic partners.

 

In light of the market headwinds impacting the consumer industry over the past
few years, the Company has and will continue to focus on operational
enhancements to drive meaningful productivity gains across the business,
achieved through further investment in technology, streamlining if internal
systems and bolstering the sales function.

 

Further planned improvements will support enhanced profitability as sales
grow.

 

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF
THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD
FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

Save as disclosed in: (i) the Cancellation and Notice of General Meeting
circular issued on 12 November 2025; and (ii) this Schedule One Announcement,
there has been no significant change in the financial or trading position of
the Company since 31 July 2025, being the end of the last financial period for
which audited financial statements have been published.

 

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT
THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT
LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

The Directors have no reason to believe that the working capital available to
the Company or the Group will be insufficient for at least 12 months from the
date of its admission to AIM.

 

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

N/A

 

 

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
SECURITIES:

Settlement will continue to be through the Euroclear System for dealings in
ordinary shares held in uncertificated form through CREST. Ordinary shares can
also be dealt with in certificated form.

 

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
SECURITIES:

https://upplc.com/investor-relations/ (https://upplc.com/investor-relations/)

 

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT
CURRENTLY PUBLIC:

The Appendix to this Schedule 1 contains, inter alia, information equivalent
to that required for an Admission Document and which is not already public.
This will be available on the Company's website:

 

https://upplc.com/investor-relations/corporate-literature/
(https://upplc.com/investor-relations/corporate-literature/)

 

 

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT
AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS
PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE.  THE ACCOUNTS MUST
BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE
19:

https://upplc.com/investor-relations/financial-reports/
(https://upplc.com/investor-relations/financial-reports/)

 

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

There are no Ordinary Shares held in treasury.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PAAEAKAFFEKSFFA



            Copyright 2019 Regulatory News Service, all rights reserved