Ultimate Products Employee Benefit Trust Boosts Holdings by 32,500 Shares, Now Owning 4.1% of Issued Capital

Ultimate Products’ Heritage Brand Portfolio and Market Presence in Homeware

Ultimate Products plc owns a range of heritage British homeware and kitchen brands. Its flagship brands include Salter, the UK’s oldest houseware brand founded in 1760, and Beldray, established in 1872. Market research cited in the announcement indicates that nearly 80% of UK households own at least one product from the Group, highlighting strong brand recognition and market penetration.

The Company’s portfolio also features Progress (bakeware, cookware, kitchen electrical), Kleeneze (laundry and floorcare), Petra (small domestic appliances), George Wilkinson (cookware and kitchen electrical), and Intempo (audio). Additionally, Ultimate Products holds an exclusive licence for the "Russell Hobbs" trademark covering cookware and laundry products, excluding electrical appliances. The Group focuses on four main product categories: Small Domestic Appliances, Housewares, Laundry, and Audio, enabling it to serve diverse customer segments and reduce reliance on any single category or brand.

Details of EBT Share Purchase and Trustee Role

On 17 July 2026, JTC Employer Solutions Trustee Limited, acting as trustee of the Ultimate Products Employee Benefit Trust, acquired 32,500 ordinary shares of 0.25 pence each at 48.47 pence per share. This routine capital management transaction supports the Company’s employee share incentive schemes and broader employee benefits.

Following this purchase, the EBT’s total shareholding rose to 3,573,481 ordinary shares, approximately 4.1% of issued share capital. The EBT is a common UK mechanism for holding shares on behalf of employees and satisfying vesting of share awards. The trust’s purpose remains to align employee interests with shareholder value. The announcement did not disclose the total consideration paid for the shares in this transaction.

EBT’s Role in Employee Share Incentive Plans

The Employee Benefit Trust is vital to Ultimate Products’ employee share schemes, holding shares "for the benefit of the Company's employees" and to satisfy vesting of awards. This structure facilitates tax-efficient share-based compensation and supports administration of plans such as Save As You Earn (SAYE), Performance Share Plans (PSPs), and Restricted Stock Units (RSUs).

The recent share acquisition reflects the Company’s commitment to maintaining adequate share reserves for anticipated employee award vesting. Holding shares in the trust rather than as treasury shares provides flexibility in capital structure while aligning employee and shareholder interests. The EBT’s 4.1% stake underscores the material role of employee share schemes in the Company’s compensation strategy, consistent with UK corporate governance best practices.

Ultimate Products’ Distribution Network and International Reach

Ultimate Products distributes its homeware and kitchen products through a broad retail network spanning over 30 countries. The Group supplies more than 300 retailers worldwide, including discounters, supermarkets, general retailers, large multi-channel retailers, and smaller chains, reducing concentration risk and expanding consumer access.

Beyond traditional retail, the Company operates direct-to-consumer e-commerce platforms at salter.com and beldray.com, plus presence on major third-party online marketplaces. Headquartered in Oldham, Greater Manchester, Ultimate Products manages design, sales, marketing, buying, quality assurance, and support across two sites. Manor Mill serves as headquarters and includes a 20,000 sq ft showroom for its brands. The Company also maintains offices and showrooms in Guangzhou, China, and Paris, France, positioning it to serve both established Western and emerging markets.

Operational Scale and Workforce at Ultimate Products

Employing over 300 staff, mainly at its Oldham headquarters, Ultimate Products is recognised as a Great Place to Work. It runs one of the largest graduate development schemes in the North West, demonstrating a strong focus on talent development and succession planning.

This employee-centric approach aligns with the use of an Employee Benefit Trust and share incentive schemes. By investing in graduate talent and career progression, Ultimate Products builds internal capability and retains knowledge. The workforce size and regional presence highlight the Company’s significance in the Greater Manchester economy. The emphasis on workplace culture and the recent EBT share acquisition indicate a strategic focus on aligning employee and shareholder interests.

Implications of EBT Shareholding on Capital Structure

The EBT’s holding of 3,573,481 ordinary shares, about 4.1% of issued capital, is typical for UK listed firms with active employee share schemes. This percentage may fluctuate as shares vest to employees and the EBT replenishes holdings. The material EBT stake raises considerations regarding voting rights, dividend treatment, and capital management.

Trustee voting under the EBT’s Trust Deed is generally exercised independently of Company management, though trustees may receive advice. The announcement did not detail Trust Deed terms or voting policies. The significant EBT shareholding could influence corporate actions, share issuance, and capital allocation. Investors should view EBT holdings as distinct from management or institutional ownership since they serve employee benefit purposes rather than representing individual beneficial ownership.

Brand Heritage and Competitive Position in Homeware

Ultimate Products’ portfolio includes some of the UK’s longest-standing homeware brands. Salter, founded in 1760, boasts over 260 years of history, while Beldray has more than 150 years of heritage. These longstanding brands provide competitive advantages in consumer trust and market positioning, especially in the UK where generational familiarity enhances brand equity.

Ultimate Products, founded in 1997 and based in Oldham, leverages these heritage brands by combining historic equity with modern retail, e-commerce, and supply chain strategies. With nearly 80% of UK households owning at least one product, the Company has maintained or revived the relevance of these brands. Its exclusive licence for the Russell Hobbs trademark (excluding electrical appliances) further strengthens its portfolio. In a dynamic homeware sector, maintaining recognised heritage brands is a key strategic asset.

Market Penetration and Consumer Reach in the UK

The announcement cites market research showing nearly 80% of UK households own at least one Ultimate Products brand item. While not independently verified here, this indicates extensive market penetration and consumer awareness across demographics.

Such penetration reflects brand longevity, broad retail distribution, competitive pricing, and product utility. However, high household ownership does not directly equate to financial performance, which depends on pricing, costs, and product mix. The announcement did not provide financial metrics or guidance; investors should consult the Company’s latest financial reports for detailed revenue and profitability data.

Regulatory Disclosure and Listing Compliance for EBT Transactions

The EBT share purchase announcement fulfills Ultimate Products’ regulatory obligations as a London Stock Exchange-listed company. Disclosure within three business days complies with FCA Listing Rule 17, requiring transparency on share transactions by connected parties including EBTs. This ensures market awareness of share capital changes and potential dilution effects.

The purchase price of 48.47 pence per share reflects the trustee’s valuation and available capital on 17 July 2026. The announcement did not provide share price history or market context for that date. Continued EBT share acquisitions suggest ongoing demand for employee share awards and appropriate use of trust capital.

Investor Relations and Contact Information

Investors seeking further details can contact Ultimate Products’ executives Andrew Gossage (CEO) and Chris Dent (CFO) via the Company’s investor hub. Sodali & Co serve as investor relations advisors, with Cavendish Capital Markets Limited as nominated advisor and joint broker, and Shore Capital also acting as joint broker. These advisors facilitate communication and corporate finance services.

The Company offers an interactive investor hub for shareholder engagement, enabling questions and discussions with management and other investors. This platform supports transparency and two-way communication regarding the EBT share acquisition, employee schemes, and broader strategic matters.