Launch of Ultimate Asset Finance Limited
01 June 2010 - 4:00PM
RNS Non-Regulatory
TIDMUFG
Ultimate Finance Group PLC
01 June 2010
?
1 June 2010
Ultimate Finance Group plc
Launch of Ultimate Asset Finance Limited to increase
services to current and new clients
Ultimate Finance Group plc ("Ultimate" or the "Company"), the AIM-quoted
factoring, invoice discounting and financial solutions provider to the SME
sector, announces the establishment of a new subsidiary, Ultimate Asset Finance
Limited ("UAF").
UAF will provide hire purchase and leasing facilities to small and medium-sized
businesses to assist with the purchase of typically lower-cost items. Asset
finance is a further addition to the Company's services following the
establishment of Ultimate Trade Finance in March.
Ultimate Asset Finance not only enhances the range of financial services
available to UFG customers through its offices in Bristol, Manchester and
Tunbridge Wells, it also creates an attractive additional offering to potential
users of the Company's throughout England and Wales. Many existing UFG clients
will already utilise either HP or leasing and will thus be a ready target
market.
The Managing Director of UAF will be Andrew Ribbins, who was involved in the
formation of Voss Finance Limited, a niche operator in the asset finance market,
becoming its Managing Director in 2007 after a period as Sales Director. With 26
years in the finance industry, predominately in the provision of asset finance
to SMEs, Andrew has major experience of both new business acquisition and the
running of a niche finance company.
"I am most enthusiastic about Ultimate Asset Finance," said Andrew Ribbins. "We
can make a difference by getting close to our customers and managing margin and
customer relations more effectively. The market has undergone significant
changes in the last 12 months and a number of major national providers have
withdrawn."
UAF will be financed by two new facilities arranged by the Company, with Siemens
Financial Services Limited and with Singers Corporate Asset Finance Limited.
Richard Pepler, Chief Executive of Ultimate Finance Group plc, said: "We are
well placed to take advantage of the opportunities in the asset finance market,
having clients who will need our services from day one. We are also certain
that, with the experience and skills of the UFG team, all new clients will
receive a level of service that few in the market are able to match."
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
NRAABMPTMBJJBBM
Ultimate Finance (LSE:UFG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ultimate Finance (LSE:UFG)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Ultimate Fin. (London Stock Exchange): 0 recent articles
More Ultimate Finance News Articles