LONDON - Ultimate Products plc, the owner of renowned homeware brands such as Salter and Beldray, reported a series of share option grants and transactions involving persons discharging managerial responsibilities (PDMRs). The company, on Monday, granted options over 210,963 ordinary shares as part of its Employee Share Scheme, with 76,908 of these options awarded to certain PDMRs.
The options are part of the company's Incentive Plan, adopted after the annual general meeting in 2023, aimed at retaining and incentivizing senior management. Notably, CEO Andrew Gossage and Founder and CCO Simon Showman did not participate in this grant. CFO Chris Dent also did not receive awards, as the company did not meet its target performance level.
The PDMRs who received options include David Bloomfield, Jennifer Stewart, Duncan Singleton, Emma Rawley, Craig Holden, and Katie Maxwell. Their option grants ranged from 5,208 to 17,361, with resultant total holdings post-grant varying from 0.06% to 0.13% of the issued share capital.
Additionally, on Monday, 144,341 ordinary shares were transferred from the UP Global Sourcing Employee Benefit Trust (EBT) to satisfy the exercise of share options under the company's 2017 Performance Share Plan. Of these, 101,851 shares were sold in the market at 117.5 pence each. Duncan Singleton, one of the PDMRs, exercised options over 21,071 ordinary shares and subsequently sold 11,647 shares.
Following these transactions, the EBT holds approximately 2.7% of the company's issued share capital, which remains at 87,929,063 ordinary shares. This figure is relevant for shareholders to determine their notification obligations under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
This report is based on a press release statement from Ultimate Products plc.
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