Business
EBT Share Purchase Programme
EBT Share Purchase Programme.
About this update from Ultimate Products Plc
[{"type":"text","content":"\n\n \n\n\n \n17 August 2023\n \n\nUP Global Sourcing Holdings plc\n(\"Ultimate Products\" \"the Company\" or \"the Group\")\n \nEBT share purchase programme\n \nUltimate 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, in its capacity as trustee (\"the Trustee\") of the Ultimate Products Employee Benefit Trust (the \"EBT\"), JTC Employer Solutions Trustee Limited will commence a programme to buy ordinary shares of 0.25p each in the Company (\"Ordinary Shares\") for the period to 1 January 2024, up to an aggregate value of £325,000 (the \"Programme\").\nThe Trustee of the EBT will purchase Ordinary Shares in accordance with the Programme, which seeks to mitigate the dilutive impact of share option awards and to improve overall shareholder return.\nThe EBT currently holds, and held at the year end, 3,022,989 (31 July 2022: 2,958,630) Ordinary Shares which represent 3.4% (31 July 2022: 3.3%) of the Company's current issued share capital, with 481,977 shares (2022: 1,094,108 shares) having been used during the course of FY22 to satisfy the exercise of share options, and 546,336 shares (2022: nil shares) having been purchased in the open market. The Company currently has a total of 2,225,337 shares under option (31 July 2022: 3,137,704 shares under option).\nThe Trustee of the EBT has entered into arrangements with the Company's broker, Shore Capital Stockbrokers Limited to carry out on-market purchases of Ordinary Shares under the Programme, including on a discretionary basis independent of the Company in accordance with certain pre-set parameters, during any prohibited periods of the Company, as determined by the UK Market Abuse Regulation, which may fall during the period of the Programme.\nFor more information, please contact:\n \nUltimate Products +44 (0) 161 627 1400\nSimon Showman, CEO\nAndrew Gossage, Managing Director\nChris Dent, Chief Financial Officer\n \nShore Capital +44 (0) 20 7408 4090\nMark Percy\nMalachy McEntyre\nDavid Coaten\nIain Sexton\n \nPowerscourt +44 (0) 207 250 1446\nRob Greening\nSam Austrums\nOliver Banks\n \n \nNotes to Editors\n \nUltimate Products is the owner of a number of leading homeware brands including Salter (the UK's oldest house...