UP Global Sourcing Holdings PLC EBT Share Purchase (0494V)
03 April 2023 - 4:00PM
UK Regulatory
TIDMUPGS
RNS Number : 0494V
UP Global Sourcing Holdings PLC
03 April 2023
3 April 2023
UP Global Sourcing Holdings plc
"Ultimate Products", "Company" or "the Group"
EBT Share Purchase
Further to its announcement of 27 February 2023, Ultimate
Products, the owner of a number of leading homeware brands
including Salter (the UK's oldest houseware brand, est.1760) and
Beldray (est.1872), was notified on 31 March 2023 that, on the same
day, JTC Employer Solutions Trustee Limited, in its capacity as
trustee ("the Trustee") of the Ultimate Products Employee Benefit
Trust (the "EBT"), purchased 23,600 ordinary shares of 0.25 pence
each in the capital of the Company ("Ordinary Shares") at a price
of 138.398 pence per Ordinary Share.
The EBT holds Ordinary Shares for the benefit of the Company's
employees and satisfies the vesting of awards made under the
Company's share incentive schemes.
Following the above transaction, the EBT holds 3,131,911
Ordinary Shares, representing approximately 3.51% of the Company's
issued share capital.
The current issued share capital of the Company consists of
89,312,457 Ordinary Shares. This figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in the Company, under the Disclosure
Guidance and Transparency Rules of the FCA.
For more information, please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Chris Dent, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Malachy McEntyre
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
Notes to Editors
Ultimate Products is the owner of a number of leading homeware
brands including Salter (the UK's oldest houseware brand,
established in 1760) and Beldray (a laundry, floor care, heating
and cooling brand that was established in 1872). According to its
market research, nearly 80% of UK households own at least one of
the Group's products.
Ultimate Products sells to over 300 retailers across 38
countries, and specialises in five product categories: Small
Domestic Appliances; Housewares; Laundry; Audio; and Heating and
Cooling. Other brands include Progress (cookware and bakeware),
Kleeneze (laundry and floorcare), Petra (small domestic appliances)
and Intempo (audio).
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 employs over 370 staff, a
significant number of whom have joined via the Group's graduate
development scheme, and 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.
Please note that Ultimate Products is not the owner of Russell
Hobbs. The company currently has licence agreements in place
granting it an exclusive licence to use the "Russell Hobbs"
trademark for cookware and laundry (NB this does not include
Russell Hobbs electrical appliances).
For further information, please visit www.upgs.com
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END
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