INSIG AI PLC — Earnings Release 2015

Jun 27, 2016

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RNS Number : 2722C

Ultimate Sports Group PLC

27 June 2016

27 June 2016

Ultimate Sports Group Plc ('USG' or 'the Company')

Final results for the year ended 31 December 2015

Ultimate Sports Group Plc, the AIM listed investment vehicle, is pleased to announce its results for the year ended 31 December 2015.

Chairman's Statement and Chief Executive's Review

For the year ended 31 December 2015 we are reporting a pre-tax loss of £356,421 (2014: profit £16,590).

USG's net cash balances as at 31 December 2015 were £357,915 (2014: £709,332). The Directors are not recommending the payment of a dividend.

Name Change and Share Consolidation

In October 2015, shareholders approved the change of name to Ultimate Sports Group Plc.

This change of name reflects the Group's operations more accurately as the Company is now focussed to a great extent on its involvement in Sports related activities.

At the same time, USG also secured shareholder approval to undertake a Share Consolidation in order to reduce the large number of Ordinary Shares previously in issue.

As a consequence, 1 new ordinary share was issued in exchange for 100 old Ordinary shares and new share certificates were issued to shareholders.

Share Placing

In December 2015, USG issued 1 million new Ordinary shares at 20p per share to raise £200,000 before expenses.

Ultimate Player.me

As shareholders are aware, we have been developing an innovative online platform for children.  This is a "free to view" method of measuring, motivating and incentivising young children to enhance their own personal sporting performance.  Ultimate Player now covers 13 different sports.

We are pleased to report that the programme became fully operational in the first few months of 2016 and is now being put through its paces with a core group of coaches, children and parents.

We are enthusiastic about the future development of the Ultimate Player brand as we launch UltimatePlayer.me and tap into our ESS platform which as outlined below is already established and continues to grow.

Pantheon Leisure Plc ("Pantheon")

USG holds 85.87% of the issued share capital of Pantheon which in turn owns 100% of the operating business of Pantheon's sport and leisure division.

Pantheon's sports and leisure division comprises two trading companies, Sport in Schools Limited ('ESS'), also known as The Elms Sport in Schools, and Football Partners Limited ('FPL') - also known as The Elms Small Sided Football.

Pantheon as a group made a profit of £67,241 for the 12 months ended 31 December 2015 (2014: Profit £400,462).

Sport in Schools Limited ('ESS' - Elms Sport in Schools)

On a turnover of £1,243,011 (2014: £1,240,527), ESS has contributed a divisional profit of £144,679 as compared with £115,649 last year.

ESS specialises in the delivery of primary school sport - covering the National Curriculum during the day and The Extended Day before and after school hours (breakfast, lunchtime and after-school clubs).

The majority of the breakfast and lunchtime clubs are provided and paid for by the school, whilst the majority of after-school clubs are paid for by parents.

Holiday camps are a successful area for ESS where we provide sports tuition during the school holidays. The majority of the camps are paid for by parents, whilst a few are paid for by the school.

The ESS directors have developed bespoke skill sets which have been adopted with great enthusiasm by our full time staff and part time coaches. They coach 21,000 children each week and on average coach between 12 to 25 hours a week. All our coaches are highly qualified (minimum level 2), DBS checked, Child protection vetted and are rigorously trained by ESS in all the main disciplines required by the National Curriculum. The management of ESS constantly monitors and assesses the level of performance of our coaches throughout the school year.

Football Partners Limited ('FPL')

Our 5-a-side football operation enjoys full FA accreditation and its activities (conducted through FPL) continue to be influenced by a difficult market as reported by our peer group competitors. Turnover (net of corporate fees) increased by 6.3% to £446,510 and this resulted in an operating loss of £77,437.

Outlook

We continue to be encouraged by the success of the sports tuition activities of ESS and consider that its potential represents a significant opportunity for growth.

Ultimate Player.me is now fully operational.  It is an innovative, secure and exciting way for children to improve their personal sporting skill sets. The objective of the programme is to encourage children to improve their fitness levels and sporting skills - an objective which is totally consistent with Government Policy and initiatives.

We are confident that with sufficient additional equity investment both SIS and UltimatePlayer.me working together and taken together will achieve growth and future value for our shareholders.

Notice of Annual General Meeting

The Annual General Meeting of the Company in respect of the year ended 31 December 2015 will be held at the Hellenic Centre, 16/18 Paddington Street, London W1U 5AS on 31 August 2016 at 11:00 am.

Richard Owen

Chairman

Geoffrey Simmonds

Chief Executive Officer

27 June 2016

Consolidated statement of comprehensive income

for the year ended 31 December 2015

			2015		2014
	Notes		£		£
					As restated
Revenue	6		1,674,521		1,645,643
Cost of sales			(976,037)		(1,009,236)
Gross profit			698,484		636,407
Website site and related costs written off			(62,510)		(39,601)
Administrative expenses			(1,035,747)		(1,006,308)
Amortisation of intangible assets			(9,306)		-
			(1,107,563)		(1,045,909)
Operating loss	6		(409,079)		(409,502)
Finance income	8		1,150		15,247
Finance costs	9		(3,972)		(1,343)
Other gains and losses	10		55,480		412,188
Profit/(loss) before taxation			(356,421)		16,590
Taxation			(23,334)		235
Profit/(loss) after taxation			(379,755)		16,825
Attributable to:
Equity holders of the parent company			(377,424)		(22,957)
Non-controlling interests			(2,331)		39,782
			(379,755)		16,825
Other comprehensive loss:
Revaluation losses on available-for-sale investments taken to equity			(14,553)		14,208
Taxation on items taken directly to equity			23,334		(235)
Other comprehensive profit/(loss)			8,781		13,973
Comprehensive loss attributable to:
Equity holders of the parent company			(368,643)		(8,984)
Minority interest			(2,331)		39,782
Total comprehensive loss			(370,974)		30,798

Loss per share (basic and diluted)

(Loss)/Earnings from operations per share	11		(0.02655)p		0.00001p
Other comprehensive earnings/(loss) per share			0.00045p		0.00004p
Total comprehensive loss per share			(0.02610)p		0.00005p

All losses arise from continuing operations of the group.

Consolidated statement of financial position

as at 31 December 2015

	Notes	2015		2014
				As Restated
		£		£
Non current assets
Goodwill and other intangibles		487,021		226,077
Property, plant and equipment		80,975		116,593
Total non-current assets		567,996		342,670
Current assets
Available-for-sale investments	12	29,273		177,477
Trade and other receivables	14	182,254		142,180
Cash and cash equivalents		357,915		709,332
Total current assets		569,442		1,028,989
Total assets		1,137,438		1,371,659
Current liabilities
Trade and other payables	15	385,114		338,783
Borrowings	16	18,877		18,877
Total current liabilities		403,991		357,660
Non-current liabilities
Borrowings	16	47,939		66,816
Total non-current liabilities		47,939		66,816
Total liabilities		451,930		424,476
Net assets		685,508		947,183
Equity
Share capital	17	1,526,164		1,426,164
Share premium account		401,039		304,289
Merger reserve		325,584		325,584
Fair value reserve		1,150		92,268
Retained earnings		(1,569,380)		(1,204,404)
Equity attributable to shareholders' of the parent company		684,557		943,901
Non- controlling interests		951		3,282
Total Equity		685,508		947,183

Consolidated statements of changes in equity

	Share capital	Share premium	Merger reserve	Fair value reserve	Retained earnings	To equity holders of the parent company	Non-controlling interest	Total
	£	£	£	£	£	£	£	£
Balance at 1 January 2014 as previously reported	1,211,489	150,000	325,584	100,240	(1,215,840)	571,473	(36,500)	534,973
Prior period adjustment				(21,945)	21,945	-	-	-
Balance at 1 January 2014 restated	1,211,489	150,000	325,584	78,295	(1,193,895)	571,473	(36,500)	534,973
Issue of new shares	214,675	154,289	-	-	-	368,964	-	368,964
Revaluation profits taken to equity	-	-	-	(34,392)	-	(34,392)	-	(34,392)
Deferred tax on items taken directly to equity	-	-	-	10,340	-	10,340	-	10,340
Share based payment	-	-	-	-	12,448	12,448	-	12,448
Loss for the year	-	-	-	-	(33,532)	(33,532)	39,782	6,250
Prior period adjustment	-	-	-	48,600	-	48,600	-	48,600
Taxation effect of prior period adjustment				(10,575)	10,575	-	-	-
Revised reserves at 1 January 2015	1,426,164	304,289	325,584	92,268	(1,204,404)	943,901	3,282	947,183
Issue of new shares	100,000	96,750	-	-	-	196,750	-	196,750
Released on sale of available for sale investments	-	-	-	(99,900)	-	(99,900)	-	(99,900)
Revaluation profits taken to equity	-	-	-	(14,552)	-	(14,552)	-	(14,552)
Deferred tax on items taken directly to equity	-	-	-	23,334	-	23,334	-	23,334
Share based payment	-	-	-	-	12,448	12,448	-	12,448
Loss for the year			-	-	(377,424)	(377,424)	(2,331)	(379,755)
At 31 December 2015	1,526,164	401,039	325,584	1,150	(1,569,380)	684,557	951	685,508

Consolidated statement of cash flows

for the year ended 31 December 2015

		Notes		2015		2014
				£		£
Cash flow from operating activities
(Loss)/profit before taxation				(356,421)		16,590
Adjustments for:
Finance income				(1,150)		(15,247)
Finance expense				3,972		1,343
Amortisation of intangible assets				9,306		-
Shares issued other than for cash				-		19,025
Other gains and losses				(55,480)		(412,188)
Depreciation				46,181		25,472
Profit on disposal of property, plant and equipment				-		(29,750)
Share based payments				12,448		12,448
Operating cash flow before working capital movements				(341,144)		(382,307)
(Increase)/decrease in receivables				(40,074)		(50)
Increase/(decrease) in payables				46,333		25,340
Net cash absorbed by operations				(334,885)		(357,017)
Cash flow from investing activities
Finance income				1,150		15,247
Property, plant and equipment acquired				(10,563)		(14,852)
Proceeds from sale of fixed assets				-		29,750
Social media website development costs				(270,250)		(166,023)
Proceeds on disposal of available for sale investments				89,230		449,712
Net cash from investing activities				(190,433)		313,834
Cash flow from financing activities
Finance expense				(3,972)		(1,343)
Funds from share issue				196,750		349,939
Repayment of borrowings				(18,877)		(8,469)
Net cash from financing activities				173,901		340,127
Net (decrease)/increase in cash and cash equivalents in the year				(351,417)		296,944
Cash and cash equivalents at the beginning of the year				709,332		412,388
Cash and cash equivalents at the end of the year				357,915		709,332

Notes to the group and parent company financial statements

1.   General information

Ultimate Sports Group Plc is a company incorporated in the United Kingdom and its activities are as described in the chairman's statement and directors' report.

These financial statements are prepared in pounds sterling because that is the currency of the primary economic environment in which the group operates.

2.   Basis of Accounting

The consolidated financial statements of the group for the year ended 31 December 2015 have been prepared under the historical cost convention except for the revaluation of available-for-sale investments to fair value and are in accordance with International Financial Reporting standards ("IFRS") as adopted by the EU. These policies have been applied consistently except where otherwise stated.

The following new and amended IFRSs have been adopted during the year.

·    Annual Improvements to IFRS 2011-2013 Cycle

·    IFRIC interpretation 21 Levies

There were no material changes in the financial statements as a result of adopting new or revised accounting standards during the year.

3.   Critical accounting judgements and key sources of estimation uncertainty

Deferred tax asset

At the present time the directors' do not consider that there is sufficient certainty regarding the utilisation of tax losses available in the group. As a result, no deferred tax asset has been recognised.

Impairment of goodwill

Determining whether goodwill is impaired requires an estimation of the value in use of the cash generating units to which the goodwill has been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash generating unit and a suitable discount rate in order to calculate present value. The carrying amount of goodwill is the deemed cost on first time application of IFRS.

Impairment of investment in subsidiary undertakings

The company holds listed investments through various subsidiary undertakings. The values of these investments have been assessed based on their current quoted market value. These values have been used to estimate the recoverable value of the subsidiary undertakings. Where the estimated recoverable value of the company's investments in these subsidiary undertakings is less than the carrying value, the investment has been written down to the estimated recoverable value.

4.   Going concern

The group has generated losses in excess of £379,000. It is anticipated that the further development of the website will improve results in the year ended 31 December 2016 and beyond. The directors have prepared financial forecasts covering the 12 months following approval of these financial statements which indicate that on the assumptions that trading conditions will improve as a result of the new website, and sufficient new investment will be provided to enable the group to cover forecast expenditure, to include website development costs, the group will remain within its existing facilities.  On these grounds, the directors consider it appropriate to prepare the financial statements on a going concern basis.

5.   Business segment analysis

Segmental information with regard to activities is disclosed below.

All turnover, profits, losses, assets and liabilities relate to operations undertaken in the UK.

Year ended 31 December 2015
		Sports and leisure		Social media website		Consolidated
		£				£
Revenue		1,674,521		-		1,674,521
Segment operating profit/(loss)		67,241		(93,105)		(25,864)
Group operating expenses*						(383,215)
Operating loss						(409,079)
Other gains and losses						55,480
Finance revenues less finance costs						(2,822)
Loss before taxation						(356,421)
Taxation						(23,334)
Loss after taxation from continuing activities						(379,755)
Year ended 31 December 2014
		Sports and leisure		Social media website		Consolidated
		£				£
Revenue		1,645,643		-		1,645,643
Segment operating profit/(loss)		(11,626)		(39,601)		(51,227)
Impairment of intangible assets						-
Group operating expenses*						(409,502)
Other gains and losses						412,188
Finance revenues less finance costs						13,904
Profit before taxation						16,590
Taxation						235
Profit after taxation from continuing activities						16,825

* 'Group operating expenses' represent the costs of running the group as a whole. The directors consider that the costs of running Pantheon Leisure Plc of £53,675 (2014: £67,874) form part of these costs as opposed to forming part of the segmental costs of the sports and leisure division.

Financial position at 31 December 2015
			Sports and leisure		Social media website		Consolidated
			£		£		£
Segment assets			150,215		453,407		603,622
Non segmental assets							533,816
Consolidated total assets							1,137,438
Segment liabilities			335,311		24,095		359,406
Non segmental corporate liabilities							92,524
							451,930
Capital additions			10,563		270,247
Depreciation/amortisation charges			18,293		9,306
Financial position at 31 December 2014							Consolidated
			£		£		£
Segment assets			153,032		181,241		463,150
Non segmental assets							859,909
Consolidated total assets							1,323,059
Segment liabilities			329,910		10,479		342,389
Non segmental corporate liabilities							82,087
							424,476
Capital additions			4,852		166,023
Depreciation charge			18,500		-

Unallocated assets include group cash balances of £357,915 (2014: £709,332), plant and equipment of £48,803 (2014: £76,691), goodwill of £59,954 (2014: £59,954), other assets and receivables attributable to the parent company of £67,144 (2014: £13,932). Unallocated liabilities include trade and other payables of £36,208 (2014: £11,892), hire purchase liabilities attributable to the parent company of £56,316 (2014: £70,193).

6.   Operating loss

				2015		2014
The operating loss is stated after charging /(crediting):				£		£
Auditors' remuneration  -  audit services				20,200		20,200
Operating lease rentals -  land and buildings				12,001		10,524
Depreciation of property, plant and equipment				46,181		25,472
Amortisation - Website development				9,306		-
Profit on disposal of tangible assets				-		(29,750)

Included in the audit fee for the group is an amount of £3,000 (2014: £3,000) in respect of the Company.

The auditors received fees of £1,250 (2014: £1,250) in respect of the provision of services in connection with advice relating to the group's interim results and general advice.

7.   (a) Staff Costs

Employee benefit costs were as follows:	Group
	2015		2014
	£		£
Wages and salaries	1,172,122		1,172,696
Social security costs	80,516		73,785
Pension contributions	7,910		-
Share based payment	12,448		12,448
	1,272,996		1,258,929

The average numbers of employees, including directors during the year, was as follows:-

	No.		No.
Administration, sales and coaching staff	85		91

(b) Directors' remuneration

		2015		2014
An analysis of directors' remuneration (who are the key management personnel) is set out below:		£		£
Salary and consultancy fees		173,585		173,194
Executive directors:
Salaries and benefits		87,585		87,194
Consultancy fees		61,000		61,000
		148,585		148,194
Non-executive directors:
Salaries and benefits		17,500		17,500
Consultancy fees		7,500		7,500
		25,000		25,000

		2015		2014
Directors consultancy fees comprise:		£		£
G Simmonds and Simmonds & Co		45,000		45,000
D Hillel		16,000		16,000
D J Coldbeck		7,500		7,500
		68,500		68,500

The total cost of key management personnel being the executive directors and including employers' national insurance was £151,889 (2014: £153,305).

Consultancy fees in respect of G Simmonds were paid to Simmonds & Co.

8.   Finance income

	2015		2014
	£		£
Interest revenue - bank deposits	250		247
Dividends received	900		15,000
	1,150		15,247

9.   Finance costs

	2015		2014
	£		£
Interest on obligations under hire purchase agreements	3,972		1,343

10. Other gains and losses

	2015		2014
	£		£
Profit on disposal of available for sale investments	55,480		412,188

11. Loss per share

Basic loss per share has been calculated on the group's loss attributable to equity holders of the parent company of £377,424 (2014: £22,957) and on the weighted average number of shares in issue during the year, which was 14,302,364, (2014: 14,113,090 as restated).

Comprehensive loss per share is based on the same number of shares and on the comprehensive loss for the year attributable to the equity holders in the parent company of £419,942 (2014: £57,584).

In view of the group loss for the year, share warrants and options to subscribe for ordinary shares in the company are anti-dilutive and therefore diluted earnings per share information is not presented. There are options outstanding at 31 December 2015 on 577,500 ordinary shares.

12.   Available-for-sale investments

The group holds the following investments which are stated at fair value:

	Group				Company
	2015		2014		2015		2014
Investments admitted to trading on AIM:	£		£		£		£
Current assets
Aeorema Communications Plc	9,675		148,500		-		-
Messaging International Plc	19,598		28,977		1,688		1,902
Total	29,273		177,477		1,688		1,902

The group has not designated any investments as financial assets at fair value through profit or loss.

Details of investment held at 31 December were:-

Aeorema Communications Plc:

30,000 ordinary shares in Aeorema Communications Plc ('Aeorema') representing 0.37% of Aeorema's issued share capital.  In  May 2015 270,000 shares were sold for £89,910 before costs.

At 22 June 2016, the market bid price was 30p per share valuing the group's holding of 30,000 Aeorema shares at £9,000.

Messaging International Plc

4,482,288 Ordinary shares in Messaging International Plc ('Messaging') representing 3.9% of Messaging's issued share capital.

At 22 June 2016, the market bid price was 0.35p per share valuing its holding of Messaging shares at £15,688.

13.   Receivables and loan notes

Non-current assets

Company

In 2014, amounts due within one year included £220,000 of loan notes (2014 - £220,000). The loan notes are convertible into 50 million new shares in Pantheon Leisure Plc (the borrower) at any time before redemption. The loan notes carry an interest coupon of 7.5% and are repayable on demand at par.

Pantheon Leisure Plc is a subsidiary undertaking of Ultimate Sports Group Plc.

The loan notes are included in investments.

Group

The group has no receivables and loan notes classified as non-current assets.

Current assets

	Group				Company
	2015		2014		2015		2014
	£		£		£		£
Trade receivables	71,973		49,605		-		-
Other receivables	59,202		42,461		25,973		4,050
Amounts due from subsidiary undertakings	-		-		647,992		444,093
Prepayments and deferred expenditure	51,079		50,114		11,603		9,588
	182,254		142,180		685,568		457,731

The average credit period given for trade receivables at the end of the year is 16 days (2014:11 days). Trade receivables are stated net of a provision for irrecoverable amounts of £Nil (2014: £Nil).

Amounts due from subsidiary undertakings are stated net of provisions for irrecoverable amounts which total £548,332 (2014: £373,931).

The total charge in the year in respect of irrecoverable receivables in the group accounts was £Nil (2014: £Nil).

As at 31 December, the ageing analysis of trade receivables is as follows:

	Total				Due but not impaired
	£				£		£		£
					<3 months		3 - 6 months		>6 months
2015	71,973				71,973		-		-
2014	49,605				49,605		-		-

14. Trade and other payables

	Group				Company
	2015		2014		2015		2014
	£		£		£		£
Trade payables	60,145		59,628		-		-
Other payables	91,480		79,293		-		-
Taxes and social security	107,746		92,144		-		-
Amounts due to subsidiary undertakings	-		-		209,573		162,818
Accruals and deferred income	125,743		107,718		31,508		9,792
	385,114		338,783		241,081		172,610

The average credit period taken for trade payables at the end of the year is 29 days (2014: 22 days).

15. Bank overdraft

Sport in Schools Limited and Football Partners Limited have bank overdraft facilities of £50,000 and £20,000 respectively which are secured by guarantees of up to £50,000 and £20,000 for each company given by Ultimate Sports Group Plc. Both overdrafts are repayable on demand.

16. Borrowings

	Group				Company
	2015		2014		2015		2014
	£		£		£		£
Due within one year
Interest free loans	5,000		5,000		-		-
Hire purchase finance	13,877	13,877	13,877	13,877
Total due within one year	18,877	18,877	13,877	13,877
Due after more than one year
Interest free loans	5,500	10,500	-	-
Hire purchase finance	42,439	56,316	42,439	56,316
Total due after more than one year	47,939	66,816	42,439	56,316
Total borrowings	66,816		85,693		56,316		70,193

17. Issued share capital

Shares of 10p each			Number of shares		£
At 1 January 2015			14,261,638		1,426,164
Shares issued in the year			1,000,000		100,000
At 31 December 2015			15,261,638		1,526,164

In October 2015, following a share consolidation all shareholders received one 10p share for every one 0.1p share in issue.

In December 2015 the company issued raised £200,000 before costs from a placing at a price of 20p per share resulting in the issue of a further 1,000,000 shares of 10p each.

At 31 December 2015 the company's issued shares carry no rights to fixed income.

Share options and warrants

On 17 January 2011 the company adopted an unapproved share option scheme.

To date the company has granted 577,500 to key executives and employees engaged in the development of the social network.

The market price of the company's shares at 31 December 2015 was 23.5p and the price range during the financial year was 23.5p and 28.5p.

18. Financial commitments

The group is committed to making the following future minimum lease payments under non-cancellable operating leases which fall due as follows:

	2015	2014
	£	£
Within one year
Land and buildings	12,001	10,000
Other	-	820
Between two and five years
Land and buildings	45,499	40,000
Other	-	-
After five years
Land and buildings	52,500	60,000
	110,000	110,820

19.  Statement of changes in equity

Retained earnings represent the cumulative retained profit or loss of the group.

Share premium is the amount subscribed for share capital in excess of nominal value and is a capital reserve required by UK company law.

The merger reserve is a non-statutory reserve and represents the difference between the fair value and nominal value of the shares exchanged for shares on acquisition of Reverse Take-Over Investments Plc which took place in 2003.

The fair value reserve represents the cumulative surplus and deficits on recognition of available-for-sale investments at fair value, less tax attributable to the net surplus.

No dividend was paid during the year (2014: Nil).

20. Post balance sheet events

There were no post balance sheet events to be stated by way of note.

21. Related parties

Details of the remuneration of directors are given in note 8. In addition to the information given in that note, the following provides further details of related party transactions involving the company and its directors.

The directors are considered to be the key management personnel of the group.

Simmonds & Co 

The group made payments of £31,200 [excluding VAT] (2014 £31,200) as contributions towards office and secretarial costs to Simmonds & Co, Chartered Accountants, a practice in which G Simmonds is sole proprietor.

22. Notes to statements of cash flows

a)  Analysis of net funds

	At 1 January 2015 £	Cash Flow          £	Non-cash movements £		At  31 December 2015 £
Group
Cash and cash equivalents	709,332	(351,417)	-		357,915
Borrowings	(85,693)	18,877	-		(66,816)
Net funds	623,639	(332,540)	-		291,099
Company
Cash and cash equivalents	513,278	(303,982)	-		209,296
Borrowings	(70,193)	13,877	-		(56,316)
Net funds	443,085	(290,105)	-		152,980

(b) Reconciliation of net cash flow to movement in net funds

			Group £		Company £
(Decrease)/increase in cash and cash equivalents in the year			(351,417)		(303,982)
Cash inflow from new borrowings			-		-
Cash outflow on borrowings repaid in the year			18,877		13,877
Movement in net funds/(debt)			(332,540)		(290,105)

General

A copy of the report and accounts are being posted to shareholders today and will be available on the Company's website www.ultimatesportsgroup.me later today.

For further information please visit www.ultimatesportsgroup.me or contact:

Geoffrey Simmonds	Ultimate Sports Group Plc	Tel: 020 7935 0823
Marc Milmo	Cantor Fitzgerald Europe	Tel: 020 7894 7000
Catherine Leftley	Cantor Fitzgerald Europe	Tel: 020 7894 7000
Neil Badger	Dowgate Capital Stockbrokers Ltd	Tel: 01293 517 744
Jason Robertson	Dowgate Capital Stockbrokers Ltd	Tel: 01293 517 744
Elisabeth Cowell	St Brides Partners Ltd	Tel: 020 7236 1177
Charlotte Heap	St Brides Partners Ltd	Tel: 020 7236 1177

This information is provided by RNS

The company news service from the London Stock Exchange

END

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