TIDMUFG

RNS Number : 9155T

Ultimate Finance Group PLC

14 December 2011

ULTIMATE FINANCE GROUP PLC

(AIM: UFG)

Directorate Changes

Ultimate Finance Group plc ("Ultimate Finance" or "the Company"), a leading provider of financial solutions to SMEs, is pleased to announce that Jeremy Coombes has been promoted to Chief Executive Officer with immediate effect. Jeremy Coombes, who has been group managing director for the last three years, is a founding member of Ultimate Finance and has 25 years experience in factoring in various operational and underwriting roles.

In addition, the Company announces that Clive Garston will be retiring from the position of Non-executive Chairman with effect from the release of the Company's interim results for the period to 31 December 2011, expected in March 2012. The Board wishes to thank Mr. Garston for his contribution to the Company over the last 10 years and wishes him well in his future endeavors.

Following Clive Garston's retirement, Roger McDowell has agreed to assume the role of Non-executive Chairman and will work with Mr. Garston on an orderly handover in the coming months. Roger McDowell, who was appointed as Non-executive Director in November, is an experienced director of 30 years' standing and currently holds Non-executive positions at several listed companies.

 
 Contacts: 
 
 Ultimate Finance Group plc                              www.ultimatefinance.co.uk 
 Jeremy Coombes, Chief Executive Officer                       +44 (0) 7967 613208 
 
 Arbuthnot Securities (Nominated Adviser and         www.arbuthnotsecurities.co.uk 
  Joint Broker) 
 Antonio Bossi/Paul Gillam                                    +44 (0) 20 7012 2000 
 
 WH Ireland Limited (Joint Broker)                            www.wh-ireland.co.uk 
 John Wakefield / Marc Davies (Corporate Finance)             +44 (0) 117 945 3470 
 Jasper Berry (Corporate Broking)                             +44 (0) 207 220 1690 
 
 Threadneedle Communications (Financial PR)               www.threadneedlepr.co.uk 
 John Coles / Fiona Conroy                                    +44 (0) 20 7653 9850

About Ultimate Finance Group plc

Ultimate Finance group is a leading provider of financial solutions to SMEs across the UK. The Company is headquartered in Bristol with offices in Manchester, Tunbridge Wells and Birmingham and through its three subsidiaries, (ultimate invoice finance, Ashley Commercial Finance, and ultimate asset finance), provides support to SMEs by funding their growth. As bank lending to SMEs is increasingly restricted in the current climate, the benefits of ultimate finance's flexible and fast-moving solutions become even more compelling.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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