Director/PDMR Shareholding and EBT Share Purchase

RNS Number : 6815K

UP Global Sourcing Holdings PLC

23 December 2022

 

23 December 2022

UP Global Sourcing Holdings plc

"Ultimate Products", "Company" or "the Group"

Director Dealing

and
EBT Share Purchase

Director Dealing

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 informed on 22 December 2022 that Chris Dent, Chief Financial Officer of the Company, on the same day purchased 13,953 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 138 pence per Ordinary Share.

Following this purchase, Mr Dent has a beneficially interest in 67,500 Ordinary Shares representing approximately 0.08% of the Company's issued share capital.

EBT Share Purchase

The Company was notified on 22 December 2022 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"), sold 13,953 ordinary shares of 0.25 pence each in the capital of the Company ("Ordinary Shares") at a price of 138 pence per Ordinary Share.

Following the above transaction, the EBT holds 3,167,967 Ordinary Shares, representing approximately 3.55% 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 [phone]

Simon Showman, CEO

Andrew Gossage, Managing Director

Chris Dent, Chief Financial Officer

Shore Capital [phone]

Mark Percy

Malachy McEntyre

Powerscourt [phone]

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	Chris Dent
2.	Details of PDMR / person closely associated with them ( 'PCA')
a)	Position / status	Chief Financial Officer
b)	Initial notification / amendment	Initial notification
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 the financial instrument	Ordinary shares of 0.25p each in the capital of UP Global Sourcing Holdings plc     ISIN:  GB00BYX7MG58
d)	Nature of the transaction	Purchase of Ordinary Shares
e)	Price and volume	Price (PENCE) Volume Chris Dent 138 13,953
f)	Aggregated information  Aggregated volume  Price	13,953   Ordinary Shares 138p
g)	Date of the transaction	22 December 2022
h)	Place of the transaction	London Stock Exchange (XLON)

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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