UP Global Sourcing Holdings PLC EBT Share Purchase (3781D)
19 February 2020 - 1:40AM
UK Regulatory
TIDMUPGS
RNS Number : 3781D
UP Global Sourcing Holdings PLC
18 February 2020
18 February 2020
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 18 February 2020, RBC cees Trustee Limited,
acting as Trustee of the UP Global Sourcing Employee Benefit Trust
("the EBT"), purchased 500,000 ordinary shares of 0.25 pence each
in the capital of the Company ("Shares") at a price of 67.95 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"). 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.
Following the above transaction, the EBT holds 3,808,307 Shares
for the above purpose, representing 4.63% of the Company's issued
share capital with voting rights.
The issued share capital of the Company on 18 February 2020 was
82,169,600 Shares.
For more information please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Edward Mansfield
Sarah Mather
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 38 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. Its
best-selling products include frying pans, mugs and speakers,
selling approximately one million of each every year.
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 in Cologne, Germany.
Ultimate Products' graduate development scheme was launched in
2012 and in 2018 it welcomed its one-hundredth graduate. In total,
Ultimate Products now employs over 300 staff.
Please note that Ultimate Products is not the owner of Russell
Hobbs or Salter. The company currently has licence agreements in
place granting it an exclusive licence to use the "Russell Hobbs"
trademark for cookware (NB this does not include Russell Hobbs
electrical appliances) and the "Salter" trademark for electrical
and cookware (NB this does not include Salter scales).
For further information, please visit www.upgs.com
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contact rns@lseg.com or visit www.rns.com.
END
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