Director / PDMR Shareholding

RNS Number : 2740U

UP Global Sourcing Holdings PLC

01 December 2021

 

1 December 2021

UP Global Sourcing Holdings PLC

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

Persons discharging managerial responsibilities "PDMR" shareholding

Ultimate Products (LSE: UPGS), the owner, manager, designer and developer of an extensive range of value-focused consumer goods brands, following the release of its final results, announces that, in its capacity as trustee of the UP Global Sourcing Employee Benefit Trust ("the Trust"), JTC Employer Solutions Trustee Limited ("JTC") has purchased 6,558 shares of 0.25p each ("Ordinary Shares") on behalf of Graham Screawn, Chief Financial Officer. The Ordinary Shares were purchased at 178p on 30 November 2021 and represent 30% of Mr Screawn's FY21 bonus ("Bonus") as part of the Ultimate Products Executive Remuneration Policy (the "Remuneration Policy"). Under the terms of the Remuneration Policy, 30% of the Bonus is deferred into Ordinary Shares and will be held by JTC, in a nominee capacity under the Trust, for Mr Screawn, vesting in three equal tranches over three years.

As a result, Mr Screawn increased his holding to 434,703 Ordinary Shares, representing 0.49% of the Company's issued share capital.

For more information please contact:

UP Global Sourcing Holdings plc	[phone] Simon Showman, CEO Andrew Gossage, Managing Director Graham Screawn, Chief Financial Officer
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	Graham Screawn
2.	Details of PDMR / person closely associated with them (   'PCA')
a)	Position / status	Graham Screawn - Chief Financial Officer
b)	Initial notification / amendment	30 November 2021
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	Sale and repurchase of shares
e)	Price(s) and volume(s)	Price(s) (PENCE) Volume(s) 178p 6,558
f)	Aggregated information  Aggregated volume  Price	6,558 178p
g)	Date of the transaction	30 November 2021
h)	Place of the transaction	London Stock Exchange (XLON)

 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 five product categories: Audio; Heating and Cooling; Housewares; Laundry; and Small Domestic Appliances. Its brands include Beldray (laundry, floor care, heating and cooling), Intempo (audio), Salter (kitchen and bathroomware), Progress (cookware and bakeware), Kleeneze (laundry and floorcare) and Petra (small domestic appliances).

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 2020 it welcomed its 300th graduate. In total, Ultimate Products now employs over 300 staff.

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 (NB this does not include Russell Hobbs electrical appliances).

For further information, please visit www.upgs.com

 

END

 

 

DSHBLBDDSBGDGBB