REG - Ultimate Products - Options, PDMR dealings and EBT Shareholding

Ultimate ProductsAnnouncement

29/11/2024 10:15

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RNS Number : 2003O  Ultimate Products PLC  29 November 2024

29 November 2024

 

Ultimate Products plc

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

 

Grant of Options under the Employee Share Scheme

               Exercise of Options, PDMR dealing 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 the following grant of deferred share awards, exercise of options
and certain PDMR dealings as a consequence of the grants and exercises.

Deferred Bonus Awards

Following the release of its final results for the year ended 31 July 2024,
the Group, on 27 November 2024, granted deferred share awards in the form of
options over 210,963 ordinary shares in the Company (the "UPIP Options"), of
which 76,908 UPIP Options were awarded to certain persons discharging
managerial responsibilities ("PDMR") (as set out in the table below). The UPIP
Options have been granted under the rules of the Company's Incentive Plan (the
"UPIP"), adopted following the Company's annual general meeting in 2023. The
UPIP Options have been granted to retain and incentivise certain members of
senior management. As in previous periods, Andrew Gossage, CEO, and Simon
Showman, Founder and CCO, are not participating in any grant of options under
the UPIP. As the Group did not deliver its target level of performance, no
awards have been made to Chris Dent, CFO.

 

 PDMR              Options granted under the UPIP                Options held prior to grant  Total number of options held following grant  Total number of Options held as % of issued share capital
 David Bloomfield                    17,361                      100,573                                      117,934                       0.13%
 Jennifer Stewart                 17,361                         67,713                       85,074                                        0.10%
 Duncan Singleton                      8,680                      60,182                      68,862                                        0.08%
 Emma Rawley                      10,937                         67,713                       78,650                                        0.09%
 Craig Holden                        17,361                      60,182                       77,543                                        0.09%
 Katie Maxwell                    5,208                          51,729                       56,937                                        0.06%

 

Exercise of Options

On 27 November 2024, under the Company's UP Global Sourcing Performance Share
Plan 2017 (the "Plan"), 72,916 share options were exercised at a price of 0.25
pence per option, 62,759 share options were exercised at a price of 59.17
pence per option, 10,516 share options were exercised at a price of 98.87
pence per option and were satisfied by the transfer of, in aggregate, 144,341
ordinary shares held by the UP Global Sourcing Employee Benefit Trust (the
"EBT"). Of the 144,341 ordinary shares allocated from the EBT to satisfy the
option exercises, 101,851 ordinary shares were subsequently sold in the market
at a price of 117.5 pence per ordinary share.

PDMR dealing

Pursuant to the exercise of the Plan options, Duncan Singleton, a PDMR,
exercised options over, in aggregate, 21,071 ordinary shares and of those
options exercised, subsequently sold, in aggregate, 11,647 ordinary shares.

Further details of the PDMRs' dealings are disclosed in the tables set out
below.

EBT and Issued Share Capital

Following the above transactions, the EBT holds 2,370,359 ordinary shares,
representing approximately 2.7% of the Company's issued share capital.

The current issued share capital of the Company remains 87,929,063 ordinary
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

Chris Dent, CFO

 

Shore Capital +44 (0) 20 7408 4090

Malachy McEntyre (Corporate Broking)

Isobel Jones (Corporate Broking)

Mark Percy (Corporate Advisory)

David Coaten (Corporate Advisory)

Harry Davies-Ball (Corporate Advisory)

 

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

Carl Holmes (Corporate Finance)

Matt Goode (Corporate Finance)

Abigail Kelly (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 45 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://url.avanan.click/v2/___http:/www.upplc.com___.YXAxZTpzaG9yZWNhcDphOm86MmQzY2UxZjE4OWU2NWU2NjE1OGFlNDNkYWRhNDg2YWQ6Njo4ZjRmOjU4YjY0NmM1OGQ2NDM5NTg3OGI2MjBmMmQyZGY5ODVmMTQ1MmYzZWUzYWRlYTljMWJlZmYyNDE3YjIxZTY3YTM6cDpGOk4)
.

 

 

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
                                              ("Ordinary Shares")

                                              ISIN: GB00BYX7MG58
 d)  Nature of the transaction                Grant of Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  0.00                          5,208
 f)  Aggregated information

      Aggregated volume                       As above.

      Price

 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

As above.

 

 

 

 

g)

Date of the transaction

27 November 2024

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 Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  0.00           17,361
 f)  Aggregated information

      Aggregated volume

                                              As above.

      Price

 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

As above.

 

 

g)

Date of the transaction

27 November 2024

h)

Place of the transaction

Grant of options off-market

 

 1.  Details of PDMR / person closely associated with them ('PCA')
 a)  Name                                     Emma Greenhalgh (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 Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  0.00                          10,937
 f)  Aggregated information

      Aggregated volume

                                              As above.

      Price

 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

As above.

 

 

 

g)

Date of the transaction

27 November 2024

h)

Place of the transaction

Grant 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;

(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                Exercise of options over Ordinary Shares pursuant to the Company's UP Global
                                              Sourcing Performance Share Plan 2017

                                              Sale of Ordinary Shares

                                              Grant of Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Exercise of Options      0.25           11,786

                                              Exercise of Options      59.17          9,285
                                              Sale of Ordinary Shares  117.5          11,647
                                              Grant of Options         0.00                               8,680
 f)  Aggregated information

      Aggregated volume

                                              As above.

      Price
 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant and exercise of options off-market and sale of shares on-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

As above.

 

g)

Date of the transaction

27 November 2024

h)

Place of the transaction

Grant and exercise of options off-market and sale of shares on-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 Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  0.00                             17,361
 f)  Aggregated information

      Aggregated volume                        As above

      Price
 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant and exercise of options off-market and sale of shares on-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 As above

 

 

g)

Date of the transaction

27 November 2024

h)

Place of the transaction

Grant and exercise of options off-market and sale of shares on-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 Deferred Share Awards as options over Ordinary Shares pursuant to the
                                              Company's Ultimate Products Incentive Plan 2023

 e)  Price and volume                         Price (PENCE)  Volume
                                              Grant of Options  0.00                             17,361
 f)  Aggregated information

      Aggregated volume

                                              As above.

      Price
 g)  Date of the transaction                  27 November 2024
 h)  Place of the transaction                 Grant of options off-market

f)

Aggregated information

 

 Aggregated volume

 

 Price

 

 

 

As above.

 

g)

Date of the transaction

27 November 2024

h)

Place of the transaction

Grant of options off-market

 

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