Ultimate Products Plc (LSE:ULTP) commences share repurchases on May 10, 2024, under the program mandated by shareholders in the General Meeting held on May 2, 2024. As per the mandate, the company is authorized to repurchase up to 8,931,245 shares, representing 10% of its share capital. The maximum price which may be paid for a share shall be an amount equal to the highest of, either 105% of the average of the middle market quotations for a share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is contracted to be purchased; or the price of the last independent trade; or the highest current independent bid.

The repurchased shares will be cancelled. As of April 8, 2024, the company had 89,312,457 issued share capital.