Grant of Options under Performance Share Plan
Ultimate Products plc has granted 950,000 options under its Performance Share Plan to six persons discharging managerial responsibilities (PDMRs), with the options vesting in three tranches over 30, 42, and 52 months and an exercise price of 53.6 pence per share. This grant, effective February 11, 2026, aims to align senior management interests with shareholders, and following this, the total number of shares under option will be 2,593,291, representing approximately 3.0% of the company's issued share capital. The Management Incentive Plan will lapse on February 28, 2026.
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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 the grant of 950,000 options over ordinary shares of 0.25p each in the capital of the Company ("Ordinary Shares") (the "Options"), to certain persons discharging managerial responsibilities ("PDMRs"). The Options were granted on 11 February 2026 to further align the interests of the senior management team with the Company's shareholders.
| PDMR | Options granted under the PSP | Options held prior to grant | Total number of options held following grant | Total number of Options held as % of issued share capital |
|---|---|---|---|---|
| Christopher Dent | 200,000 | 38,081 | 238,081 | 0.28% |
| David Bloomfield | 150,000 | 100,536 | 250,536 | 0.29% |
| Duncan Singleton | 150,000 | 28,144 | 178,144 | 0.21% |
| Tracy Carroll | 150,000 | 35,305 | 185,305 | 0.21% |
| Katie Maxwell | 150,000 | 14,053 | 164,053 | 0.19% |
| Craig Holden | 150,000 | 58,791 | 208,791 | 0.24% |
The Options have been granted under the rules of the Group's Performance Share Plan ("PSP") adopted following the Annual General Meeting in 2017 with a view to retaining and incentivising members of senior management. The Options vest in three equal tranches after 30, 42 and 52 months, and have an exercise price of 53.6 pence per share, representing the closing mid-market price on 10 February 2026. Accordingly, their value will be tied to any future increase in share price.
In addition, the Management Incentive Plan ("MIP"), which was established at the time of the IPO, will lapse on 28 February 2026. There are currently options over 2,149,557 shares which remain unvested under the MIP. Following the issue of these new Options under the PSP and on the lapse of the MIP there will be 2,593,291 shares under option in total, representing approximately 3.0% of the Company's issued share capital. It continues to be the Board's intention that the exercise of these and other share options will be satisfied through the 2,934,014 Ordinary Shares currently held in trust by the Ultimate Products Employee Benefit Trust.
Andrew Gossage, Chief Executive of Ultimate Products, said:
"Over the past six months, those members of our senior leadership team who were promoted to C-suite roles have performed strongly at that level, and taken greater responsibility for the business's operational and strategic direction. These awards recognise that progress, support the development of leaders who will play a pivotal role in the next phase of Ultimate Products' long-term ambitions, and do so in a way that keeps their interests aligned with those of all shareholders."
| a) | Name | Chris Dent |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Financial Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 200,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
| 1. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Name | David Bloomfield |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Supply Chain Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 150,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
| 1. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Name | Duncan Singleton |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Commercial Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 150,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
| 1. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Name | Tracy Carroll |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Marketing Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 150,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
| 1. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Name | Katie Maxwell |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Product Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 150,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
| 1. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Name | Craig Holden |
| 2. | Details of PDMR / person closely associated with them ( ' PCA ' ) | |
| a) | Position / status | Chief Operating Officer |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Ultimate Products Plc |
| b) | LEI | 213800Q5GWTVIW6KJW33 |
| c) | Description of the financial instrument | Ordinary shares of 0.25p each in the capital of Ultimate Products plc ISIN: GB00BYX7MG58 |
| d) | Nature of the transaction | Grant of options over Ordinary Shares pursuant to the Group's Performance Share Plan |
| e) | Price and volume | Type Price (PENCE) Volume Grant of Options 53.6 150,000 |
| f) | Aggregated information Aggregated volume Price | As above. |
| g) | Date of the transaction | 11 February 2026 |
| h) | Place of the transaction | Grant of options off-market |
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