Transaction in Own Shares and Total Voting Rights

Ultimate Products PLC

25 June 2024

 

Ultimate Products plc

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

Transaction in Own Shares

Total Voting Rights

and

Director/PDMR Shareholding

Further to its announcement on 10 May 2024 of the commencement of a share buyback programme, 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), announces that it has purchased for cancellation, through Shore Capital Stockbrokers Limited, the following ordinary shares of 0.25 pence each in the Company ("Ordinary Shares").

Date of purchase:	24 June 2024
Number of Ordinary Shares purchased (aggregated volume):	3,500
Highest price paid per Ordinary Share (pence):	138
Lowest price paid per Ordinary Share (pence):	138
Volume weighted average price paid per share Ordinary Share (pence):	138

Following the cancellation of the Ordinary Shares, the Company's issued share capital will consist of 88,831,072 Ordinary Shares. This figure represents the total voting rights in the Company 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.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, a detailed breakdown of individual trades is available below:

Number of shares purchased	Transaction price (pence per share)	Time of transaction	Venue
3,500	138	16.35	XLON

The Company also announces that it has today been informed that Jenny Stewart, Commercial Director, has effected the following transactions:

1.     on 20 June 2024, Jenny gifted at nil cost 2,276 Ordinary Shares to her husband, James Scales, who subsequently effected a "Bed and ISA" by selling the 2,276 Ordinary Shares from his dealing account and immediately repurchasing the same number of Ordinary Shares into his individual savings account ("ISA"), each at a price of £1.34 per Ordinary Share;

2.     on 24 June 2024, Jenny effected a "Bed and ISA" by selling 16,152 Ordinary Shares from her dealing account and immediately repurchasing the same number of Ordinary Shares into her ISA, each at a price of £1.355 per Ordinary Share; and

3.     on 24 June 2024, Jenny sold 14,660 Ordinary Shares and her husband, James Scales, purchased the same number of Ordinary Shares, each at a price of £1.355 per Ordinary Share.

The person responsible for arranging the release of this announcement on behalf of the Company is Chris Dent, CFO.

For more information, please contact:

Ultimate Products [phone]

Andrew Gossage, CEO

Chris Dent, CFO

Shore Capital [phone]

Mark Percy

Malachy McEntyre

David Coaten
Harry Davies-Ball

Isobel Jones

Cavendish Capital Markets Limited + 44 (0)20 7220 0500

Carl Holmes (Corporate Finance)

Matt Goode (Corporate Finance)

Abigail Kelly (Corporate Finance)

Charlie Combe (ECM)

Powerscourt [phone]

Rob Greening

Sam Austrums

Oliver Banks

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	Jenny Stewart
2.	Details of PDMR / person closely associated with them ('PCA')
a)	Position / status	Commercial Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ultimate Products 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 Ultimate Products plc   ISIN: GB00BYX7MG58
d)	Nature of the transaction	Transfer of Ordinary Shares
e)	Price and volume	Type Price (PENCE) Volume Gift N/A 2,276 Sale 135.5p 16,152 Sale 135.5p 14,660
f)	Aggregated information  Aggregated volume  Price	Type Aggregate Price Aggregate Volume Gift As above As above Sales 135.5p 30,812
g)	Date of the transaction	Type Date Gift 20 June 2024 Sales 24 June 2024
h)	Place of the transaction	Type Place Gift Off market Sales London Stock Exchange (XLON)

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	James Scales
2.	Details of PDMR / person closely associated with them ('PCA')
a)	Position / status	Person Closely Associated with Jenny Stewart, Commercial Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ultimate Products 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 Ultimate Products plc   ISIN: GB00BYX7MG58
d)	Nature of the transaction	Acquisition of Ordinary Shares
e)	Price and volume	Type Price (PENCE) Volume Gift N/A 2,276 Purchase 135.5p 14,660
f)	Aggregated information  Aggregated volume  Price	As above
g)	Date of the transaction	Type Date Gift 20 June 2024 Sale 24 June 2024
h)	Place of the transaction	Type Place Gift Off market Sales 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 Paris, France.

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.upplc.com.  

 

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