REG - Ultimate Products - Grant of Options and PDMR Dealing

Ultimate ProductsAnnouncement

28/05/2025 07:00

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RNS Number : 3001K  Ultimate Products PLC  28 May 2025

 

Ultimate Products plc

("Ultimate Products", "Company" or "the Group")

 

Grant of Options under the Employee Share Scheme

and

PDMR dealing

 

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 the following grant of options and certain resulting PDMR dealings.

 

Employee Share Scheme

 

The Company is pleased to announce that it has made a further round of
invitations under its Save As You Earn Scheme (the "SAYE Scheme") to all
eligible employees. Under the SAYE Scheme, employees have been offered the
opportunity to participate in the future growth of the Company through the
granting of share options.

 

Eligible employees were invited to subscribe for options over Ordinary Shares
with an exercise price of 50.88 pence per Ordinary Share, representing a 20%
discount to the average closing mid-market price of the Ordinary Shares on 30
April 2025, being the business day prior to opening of the SAYE scheme for
application.  The options have a savings contract start date of 1 July 2025
and are exercisable between 1 July 2028 and 31 January 2029.

 

Of the total eligible employees, 97 elected to participate in the SAYE Scheme
and, pursuant to this, a grant of 1,182,126 options over Ordinary Shares has
been made on 27 May 2025, equating to 1.36% of the current issued share
capital of 86,718,437 Ordinary Shares. It is currently intended that any
future exercise of these options will be satisfied through the Ordinary Shares
held in trust by the UP Global Sourcing Employee Benefit Trust, with no
dilution to existing shareholders.

 

As a tax-advantaged share plan compliant with Schedule 3 of the Income Tax
(Earnings and Pensions) Act 2003, eligible employees included all UK-based
employees and full-time directors who have been employed by the Group for
twelve months or more.

 

PDMR dealing

 

Pursuant to the above, certain persons discharging managerial responsibilities
("PDMR") were granted options over, in aggregate 108,486 Ordinary Shares as
more fully disclosed in the tables set out further below.

 

For more information, please contact:

 

Ultimate Products +44 (0) 161 627 1400

Andrew Gossage, CEO

Chris Dent, CFO

 

Shore Capital +44 (0) 20 7408 4090

Mark Percy

Malachy McEntyre

David Coaten

Harry Davies-Ball

Isobel Jones

 

Cavendish Capital Markets Limited + 44 (0)20 7220 0500

Matt Goode (Corporate Finance)

Charlie Combe (ECM)

 

Sodali & Co +44 (0) 207 250 1446

Rob Greening

Sam Austrums

Oliver Banks

 

 

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 38 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 in
Paris, France.

 

Please note that Ultimate Products is not the owner of Russell Hobbs. The
company currently has licence agreements in place granting it an exclusive
licence to use the "Russell Hobbs" trademark for cookware and laundry (NB this
does not include Russell Hobbs electrical appliances).

 

For further information, please visit www.upplc.com (https://upplc.com/) .

 

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                                     Chris Dent
 2.  Details of PDMR / person closely associated with them ('PCA')
 a)  Position / status                        Chief Financial Officer
 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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant of options off-market

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                     Jenny Stewart (Scales)
 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;

(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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant of options off-market

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                     Craig Holden
 2.  Details of PDMR / person closely associated with them ('PCA')
 a)  Position / status                        Operations & HR 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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant of options off-market

 

 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;

(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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant 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;

(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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant of options off-market

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                     Tracy Carroll
 2.  Details of PDMR / person closely associated with them ('PCA')
 a)  Position / status                        Brand 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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of options over Ordinary Shares pursuant to the Company's Save As You
                                              Earn Scheme
 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  50.88          18,081
 f)  Aggregated information

      Aggregated volume

                                               Grant of Options: as above

      Price

 g)  Date of the transaction                  27 May 2025
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

 Grant of Options: as above

 

 

 

g)

Date of the transaction

27 May 2025

h)

Place of the transaction

Grant of options off-market

 

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