TIDMUPGS
RNS Number : 9015I
UP Global Sourcing Holdings PLC
16 December 2020
16 December 2020
UP Global Sourcing Holdings PLC
"Ultimate Products" or "the Company" or "the Group"
Notification of Transactions of Persons Discharging Managerial
Responsibilities
Awards under the Company's Performance Share Plan
Ultimate Products, the owner, manager, designer and developer of
an extensive range of value-focused consumer goods brands,
announces that on 14 December 2020 options over 655,000 ordinary
shares in the Company ("Options") have been granted, at nominal
value, to certain employees including the following directors and
persons discharging managerial responsibilities ("PDMRs") (together
the "Recipients") under the rules of the Company's Performance
Share Plan (the "PSP") adopted following the annual general meeting
in 2017. As in previous periods, Simon Showman, CEO, and Andrew
Gossage, Managing Director, are not participating in any grant of
options under the PSP. The Options have been granted to retain and
incentivise certain members of senior management.
Director / PDMR Options granted Exercise price Options held Total number of Total number of
under the PSP (p)* prior to grant options held Options held as %
following grant of issued share
capital
Graham Screawn 80,000 0.25 159,962 239,962 0.29%
------------------ ------------------ ------------------ ------------------ ------------------
David Bloomfield 80,000 0.25 159,962 239,962 0.29%
------------------ ------------------ ------------------ ------------------ ------------------
Jennifer Stewart 50,000 0.25 107,526 157,526 0.19%
------------------ ------------------ ------------------ ------------------ ------------------
Duncan Singleton 50,000 0.25 125,152 175,152 0.21%
------------------ ------------------ ------------------ ------------------ ------------------
Peter Rawley 50,000 0.25 109,962 159,962 0.19%
------------------ ------------------ ------------------ ------------------ ------------------
Emma Greenhalgh 50,000 0.25 109,962 159,962 0.19%
------------------ ------------------ ------------------ ------------------ ------------------
Craig Holden 50,000 0.25 105,405 155,405 0.19%
------------------ ------------------ ------------------ ------------------ ------------------
Following a three-year performance period, which commences on 1
August 2020 and ends on 31 July 2023, the Options may then vest
over a three-year period commencing on the assessment by the
Remuneration Committee of the performance conditions, and lapse on
the tenth anniversary of the date of grant. The Options are s
ubject to rigorous financial performance conditions (including an
earnings per share target) and continued employment with the
Company. It is currently intended that any future exercise of these
Options will be satisfied through the 4,058,307 Ordinary Shares
currently held in trust by the UP Global Sourcing Employee Benefit
Trust.
Following these grants the Company has a total of 3,453,849
share options outstanding representing 4.20% of the existing issued
share capital of the Company.
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
Shore Capital +44 (0) 207 408 4090
Mark Percy
Edward Mansfield
Sarah Mather
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Pursuant to the notification obligations in accordance with
Article 19 of the Market Abuse Regulation (MAR)
1. Details of PDMR / person closely associated with them
( 'PCA')
a) Name Graham Screawn
David Bloomfield
Jennifer Stewart
Duncan Singleton
Peter Rawley
Emma Greenhalgh
Craig Holden
---------------------------------------------------------- --------------------------------------------------
2. Details of PDMR / person closely associated with them
( 'PCA')
--------------------------------------------------------------------------------------------------------------
a) Position / status Graham Screawn - Chief Financial Officer
David Bloomfield - Supply Chain Director
Jennifer Stewart - Commercial Director
Duncan Singleton - Trading Director
Peter Rawley - Trading Director
Emma Greenhalgh - Trading Director
Craig Holden - HR Director
---------------------------------------------------------- --------------------------------------------------
b) Initial notification 16 December 2020
/ amendment
---------------------------------------------------------- --------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------------------------
a) Name UP Global Sourcing Holdings Plc
---------------------------------------------------------- --------------------------------------------------
b) LEI 213800Q5GWTVIW6KJW33
---------------------------------------------------------- --------------------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
--------------------------------------------------------------------------------------------------------------
c) Description of Ordinary shares of 0.25p each in the capital
the financial of UP Global Sourcing Holdings plc
instrument ISIN: GB00BYX7MG58
---------------------------------------------------------- --------------------------------------------------
d) Nature of the Grant of options under PSP
transaction
---------------------------------------------------------- --------------------------------------------------
e) Price(s) and Price(s) (PENCE) Volume(s)
volume(s) Graham Screawn 0.25 80,000
----------------- ----------
David Bloomfield 0.25 80,000
----------------- ----------
Jennifer Stewart 0.25 50,000
----------------- ----------
Duncan Singleton 0.25 50,000
----------------- ----------
Peter Rawley 0.25 50,000
----------------- ----------
Emma Greenhalgh 0.25 50,000
----------------- ----------
Craig Holden 0.25 50,000
----------------- ----------
---------------------------------------------------------- --------------------------------------------------
f) Aggregated information
Aggregated volume
Price
410,000
0.25P
--------------------------------------------------------------- --------------------------------------------------
g) Date of the transaction 14 December 2020
---------------------------------------------------------- --------------------------------------------------
h) Place of the N/A
transaction
---------------------------------------------------------- --------------------------------------------------
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 37 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 250 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
The notifications set out below relating to the above
transactions are provided in accordance with the requirements of
the EU Market Abuse Regulation.
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END
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