UP Global Sourcing Holdings PLC EBT Share Purchase (8234H)
20 November 2018 - 6:00PM
UK Regulatory
TIDMUPGS
RNS Number : 8234H
UP Global Sourcing Holdings PLC
20 November 2018
UP Global Sourcing Holdings PLC
"Ultimate Products" or "the Company"
EBT Share Purchase
Ultimate Products, the owner, manager, designer and developer of
an extensive range of value-focused consumer goods brands,
announces that on 19 November 2018, RBC cees Trustee Limited,
acting as Trustee of the UP Global Sourcing Employee Benefit Trust
(the "EBT"), purchased 100,000 ordinary shares of GBP0.25 each in
the capital of the Company ("Shares") at a price of 40.85 pence per
Share.
The EBT holds Shares for the benefit of the Company's employees
and satisfies the vesting of awards made under the Company's
Performance Share Plan ("PSP") and the proposed SAYE Plan which
will be tabled for adoption at the Company's AGM. All employees of
Ultimate Products, including each of the Company's executive
directors, are beneficiaries of the EBT. However, it is not the
intention of the Remuneration Committee for Simon Showman and
Andrew Gossage to participate in any future grant of options under
the PSP or to participate in the SAYE Plan.
Following the above transaction, the EBT holds 2,111,000 Shares
for the above purpose, representing 2.57% of the Company's issued
share capital with voting rights.
The issued share capital of the Company on 19 November 2018 was
82,169,600 Shares.
For more information on Ultimate Products, please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Finance Director
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Notes to Editors
Ultimate Products is an owner, manager, designer and developer
of a series of well-known brands focused on the home, selling to
over 300 retailers across 36 countries. It has six product
categories: Audio; Heating and Cooling; Housewares; Laundry;
Luggage; and Small Domestic Appliances. Its brands include Beldray
(laundry, floor care, heating and cooling), Intempo (audio), Salter
(kitchenware), Constellation (luggage), and Progress (cookware and
bakeware).
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 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 a newly established showroom in Cologne,
Germany. In total, Ultimate Products now employs over 240
staff.
For further information, please visit www.upgs.com
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END
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