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UP GLOBAL SOURCING HOLDINGS PLC
Remuneration Information • Jun 9, 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 3682O
UP Global Sourcing Holdings PLC
09 June 2022
9 June 2022
UP Global Sourcing Holdings PLC
"Ultimate Products" or "the Company" or "the Group"
Notification of Transactions of Persons Discharging Managerial Responsibilities
Awards under the Company's Performance Share Plan
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 on 6 June 2022 options over 364,000 ordinary shares in the Company ("Options") have been granted, at nominal value, to certain employees including the following directors and persons discharging managerial responsibilities ("PDMRs") (together the "Recipients"). The Options have been granted under the rules of the Company's Performance Share Plan (the "PSP") adopted following the annual general meeting in 2017. As in previous periods, Simon Showman, CEO, and Andrew Gossage, Managing Director, are not participating in any grant of options under the PSP. The Options have been granted to retain and incentivise certain members of senior management.
| Director / PDMR | Options granted under the PSP | Exercise price (p) | Options held prior to grant | Total number of options held following grant | Total number of Options held as % of issued share capital |
| Christopher Dent | 40,000 | 0.25 | - | 40,000 | 0.04% |
| David Bloomfield | 30,000 | 0.25 | 224,709 | 254,709 | 0.29% |
| Jennifer Stewart | 20,000 | 0.25 | 144,709 | 164,709 | 0.23% |
| Duncan Singleton | 20,000 | 0.25 | 175,152 | 195,152 | 0.22% |
| Peter Rawley | 20,000 | 0.25 | 144,709 | 164,709 | 0.18% |
| Emma Greenhalgh | 20,000 | 0.25 | 144,709 | 164,709 | 0.18% |
| Craig Holden | 20,000 | 0.25 | 134,742 | 154,742 | 0.17% |
| Katie Maxwell | 20,000 | 0.25 | 79,709 | 99,709 | 0.11% |
Following a three-year performance period, which commences on 1 August 2022 and ends on 31 July 2025, the Options may then vest over a three-year period commencing on the assessment by the Remuneration Committee of the performance conditions, and lapse on the tenth anniversary of the date of grant. The Options are subject to rigorous financial performance conditions (including an earnings per share target) and continued employment with the Company. It is currently intended that any future exercise of these Options will be satisfied through the 2,959,780 Ordinary Shares currently held in trust by the UP Global Sourcing Employee Benefit Trust.
The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
For more information, please contact:
Ultimate Products +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Chief Financial Officer
Shore Capital +44 (0) 20 7408 4090
Mark Percy
Malachy McEntyre
Liam Zabludowicz
Powerscourt +44 (0) 207 250 1446
Rob Greening
Sam Austrums
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Christopher Dent
David Bloomfield
Jennifer Stewart
Duncan Singleton
Peter Rawley
Emma Greenhalgh
Craig Holden
Katie Maxwell
2
Reason for the notification
a)
Position/status
PDMR of UP Global Sourcing Holdings plc
b)
Initial notification /Amendment
Initial notification
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.25p each in the capital of UP Global Sourcing Holdings plc
ISIN: GB00BYX7MG58
b)
Nature of the transaction
Grant of Options under PSP
c)
Price(s) and volume(s)
Exercise price: 0.25p
| PDMR | Total Options |
| Christopher Dent | 40,000 |
| David Bloomfield | 30,000 |
| Jennifer Stewart | 20,000 |
| Duncan Singleton | 20,000 |
| Peter Rawley | 20,000 |
| Emma Greenhalgh | 20,000 |
| Craig Holden | 20,000 |
| Katie Maxwell | 20,000 |
d)
Aggregated information
- Aggregated volume
- Price
190,000
0.25p
e)
Date of the transaction
6 June 2022
f)
Place of the transaction
N/A
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
About Ultimate Products
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 350 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 Cologne, Germany.
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
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