Announcement PDF RNS Number : 6200V Ultimate Products PLC 05 December 2023 5 December 2023 Ultimate Products plc "Ultimate Products", "Company" or "the Group" Grant of Options under the Employee Share Scheme Exercise of Options, PDMR dealing and EBT Shareholding 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 the following purchase of shares on behalf of a Director, grant of options, exercise of options and certain PDMR dealings as a consequence of exercise of options. Deferred Director Bonus Following the release of its final results, JTC Employer Solutions Trustee Limited ("JTC"), in its capacity as trustee of the Ultimate Products Employee Benefit Trust ("the Trust"), has purchased 14,624 shares of 0.25 pence each ("Ordinary Shares") on behalf of Chris Dent, Chief Financial Officer. The Ordinary Shares were purchased at 145 pence on 4 December 2023 and represent 30% of Mr Dent's FY23 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 Dent, vesting in three equal tranches over three years. As a result, Mr Dent increased his holding to 88,479 Ordinary Shares, representing 0.1% of the Company's issued share capital. Employee Share Scheme The Company is pleased to announce that it has made a further round of invitations under its Save As You Earn Scheme (the "SAYE Scheme") to all eligible employees. Under the SAYE Scheme, employees have been offered the opportunity to participate in the future growth of the Company through the granting of share options. Eligible employees were invited to subscribe for options over Ordinary Shares with an exercise price of 105 pence per Ordinary Share, representing a 20% discount to the average closing mid-market price of the Ordinary Shares on 8 November 2023, being the business day prior to opening of the SAYE scheme for application. The options have a savings contract start date of 1 March 2024 and are exercisable between 1 March 2027 and 30 September 2027. Out of the 229 eligible employees, 96 elected to participate in the SAYE Scheme and, pursuant to this, a grant of 553,532 options over Ordinary Shares has been made on 4 December 2023, equating to 0.6% of the current issued share capital of 89,312,457 Ordinary Shares. It is currently intended that any future exercise of these options will be satisfied through the Ordinary Shares held in trust by the UP Global Sourcing Employee Benefit Trust, with no dilution to existing shareholders. As a tax-advantaged share plan compliant with Schedule 3 of the Income Tax (Earnings and Pensions) Act 2003, eligible employees included all UK-based employees and full-time directors who have been employed by the Group for twelve months or more. Exercise of Options Further to is announcement on 13 March 2019, on 4 December 2023, under the Company's UP Global Sourcing Performance Share Plan 2017 (the "Plan"), 264,805 share options were exercised at a price of 0.25 pence per option, 208,366 share options were exercised at a price of 59.17 pence per option, 32,967 share options were exercised at a price of 98.87 pence per option and were satisfied by the transfer of, in aggregate, 506,138 Ordinary Shares held by the UP Global Sourcing Employee Benefit Trust (the "EBT"). Of the 506,138 Ordinary Shares allocated from the EBT in satisfying the option exercises, 474,085 Ordinary Shares were subsequently sold in the market at a price of 145 pence per Share. PDMR dealing Pursuant to the above, certain persons discharging managerial responsibilities ("PDMR") were granted options over, in aggregate 70,664 Ordinary Shares, certain PDMRs exercised options over, in aggregate, 337,867 Ordinary Shares and of those options exercised, certain PDMRs subsequently sold, in aggregate, 321,244 Ordinary Shares in the market as more fully disclosed in the tables set out further below. EBT and Issued Share Capital Following the above transactions, the EBT holds 2,680,132 Ordinary Shares, representing approximately 3.00% of the Company's issued share capital. The current issued share capital of the Company remains 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) 207 408 4090 Mark Percy David Coaten Iain Sexton Malachy McEntyre Isobel Jones Cavendish Capital Markets Limited + 44 (0)20 7220 0500 Carl Holmes Matt Goode Abigail Kelly Powerscourt +44 (0) 207 250 1446 Rob Greening Sam Austrums Oliver Banks 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 more than 40 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 Paris, France. Please note that Ultimate Products is not the owner of Russell Hobbs. The Company 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.upplc.com 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 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Chief Financial Officer b) Initial notification Initial notification Chris Dent / amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc the financial instrument d) e) ("Ordinary Shares") ISIN: GB00BYX7MG58 Nature of the Exercise of options over Ordinary Shares pursuant to the Company's UP transaction Global Sourcing Performance Share Plan 2017 Price and Price (PENCE) Volume volume Purchase of Ordinary 145.00 Shares Grant of Options f) 14,624 105.00 8,833 Aggregated information Aggregated volume Purchase of Ordinary Shares: as above Grant of Options: as above Price g) Date of the 4 December 2023 transaction h) Place of the Grant of options off-market and purchase of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Trading Director b) Initial notification / Initial notification Katie Maxwell amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument ISIN: GB00BYX7MG58 d) e) Nature of the Exercise of options over Ordinary Shares pursuant to the Company's UP transaction Global Sourcing Performance Share Plan 2017 Price and volume Price (PENCE) Exercise of Options Volume 0.25 13,232 Exercise of Options 59.17 17,329 Exercise of Options 98.87 3,759 f) Sale of Ordinary Shares 145.00 30,417 Grant of Options 8,833 105.00 Aggregated information Aggregated volume Option Ordinary Shares: 34,320 Option Shares: 40.80 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Supply Chain Director b) Initial notification / Initial notification David Bloomfield amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument ISIN: GB00BYX7MG58 d) Nature of the Exercise of options over Ordinary Shares pursuant to the Company's UP transaction Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 36,868 Exercise of Options 59.17 10,104 Sale of Ordinary Shares 145.00 46,972 Grant of Options f) 105.00 8,833 Aggregated information Aggregated volume Option Shares: 46,972 Option Shares: 12.92 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Trading Director b) Initial notification / Initial notification Emma Greenhalgh (Rawley) amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument d) ISIN: GB00BYX7MG58 Nature of the Exercise of options over Shares pursuant to the Company's UP Global transaction Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options f) 105.00 8,833 Aggregated information Aggregated volume Option Shares: 67,003 Option Shares:32.91 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Trading Director b) Initial notification / Initial notification Duncan Singleton amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument ISIN: GB00BYX7MG58 d) Nature of the Exercise of options over Ordinary Shares pursuant to the Company's UP transaction Global Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options f) 105.00 8,833 Aggregated information Aggregated volume Option Shares: 67,003 Option Shares:32.91 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') Pete Rawley a) Position / status Trading Director b) Initial notification / Initial notification amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument d) ISIN: GB00BYX7MG58 Nature of the Exercise of options over Shares pursuant to the Company's UP Global transaction Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 29,865 Exercise of Options 59.17 37,138 Sale of Ordinary Shares 145.00 67,003 Grant of Options f) 105.00 8,833 Aggregated information Aggregated volume Option Shares: 67,003 Option Shares:32.91 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction 1. Details of PDMR / person closely associated with them ('PCA') Craig Holden a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Operations & HR Director b) Initial notification / Initial notification amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument ISIN: GB00BYX7MG58 d) Nature of the Exercise of options over Shares pursuant to the Company's UP Global transaction Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 18,499 Exercise of Options 59.17 9,284 f) Sale of Ordinary Shares 145.00 15,063 Grant of Options 8,833 105.00 Aggregated information Aggregated volume Option Shares: 27,783 Option Shares: 19.94 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 transaction h) Place of the transaction Grant and exercise of options off-market and sale of shares on-market 1. Details of PDMR / person closely associated with them ('PCA') a) Name 2. Details of PDMR / person closely associated with them ('PCA') a) Position / status Commercial Director b) Initial notification / Initial notification Jenny Stewart (Scales) amendment 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 Ordinary shares of 0.25p each in the capital of Ultimate Products plc financial ("Ordinary Shares") instrument d) ISIN: GB00BYX7MG58 Nature of the Exercise of options over Shares pursuant to the Company's UP Global transaction Sourcing Performance Share Plan 2017 Sale of Ordinary Shares e) Price and volume Price (PENCE) Exercise of Options Volume 0.25 18,499 Exercise of Options 59.17 9,284 Sale of Ordinary Shares 145.00 27,783 Grant of Options f) 105.00 Aggregated information Aggregated volume Option Shares: 27,783 Option Shares: 19.94 pence Price Sale of Ordinary Shares: as above Grant of Options: as above g) Date of the 4 December 2023 8,833 transaction h) Place of the Grant and exercise of options off-market and sale of shares on-market transaction This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END DSHTIBFTMTAMBMJ