Launch of Ultimate Trade Finance Limited
24 March 2010 - 6:01PM
RNS Non-Regulatory
TIDMUFG
Ultimate Finance Group PLC
24 March 2010
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24 March 2010
Ultimate Finance Group plc
Launch of Ultimate Trade Finance Limited to enhance
services to current and new clients
Ultimate Finance Group plc ("Ultimate"), the AIM-quoted factoring, invoice
discounting and financial solutions provider to the SME sector, announces the
establishment of a new subsidiary, Ultimate Trade Finance Limited ("UTF").
UTF will provide trade finance to small and medium-sized businesses, to assist
with the purchase of finished goods. To minimise risk to clients and UTF, all
goods will be purchased against confirmed orders.
While the new service is designed primarily to help fulfilment of companies with
their import financing requirements, UTF will be able to assist its clients with
the purchase orders, whether import, export or domestic. UTF will provide both
financial products and additional specialist services, such as shipping and
delivery services and goods inspections.
UTF will be financed by a new facility with Lloyds TSB Bank Plc.
Richard Pepler, Chief Executive of Ultimate Finance Group plc, said: "UTF
underlines the Company's strategy of identifying and implementing effective,
innovative ways to meet the needs of current and prospective clients, some of
whom are currently denied access to traditional forms of funding. We are
particularly pleased to extend our existing relationships with Lloyds in this
way."
Further information:
Ultimate Finance Group plc:
+-------------------------------+---------------------------------+
| Richard Pepler, Chief | +44 (0) 845 251 3030 |
| Executive | |
| rpepler@ultimatefinance.co.uk | |
+-------------------------------+---------------------------------+
| www.ultimatefinance.co.uk | |
+-------------------------------+---------------------------------+
Media enquiries:
Allerton Communications
+-----------------------------------+---------------------------------+
| Peter Curtain | +44 (0) 20 3137 2500 |
| peter.curtain@allertoncomms.co.uk | |
+-----------------------------------+---------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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