Appointment of Non-Executive Directors (8469S)

TIDMUFG

RNS Number : 8469S

Ultimate Finance Group PLC

28 November 2011

28 November 2011

Embargoed until 07:00

Ultimate Finance Group plc

("Ultimate Finance" or the "Group")

Appointment of Non-Executive Directors

Ultimate Finance Group plc (AIM: UFG), confirms today the appointment of two Non-Executive Directors, as outlined in the announcement dated 23 November 2011. Mr Matthew (Matt) Cooper and Mr Roger McDowell join the Board with immediate effect.

Matt Cooper currently holds several board-level positions at companies in both the corporate and not-for-profit sectors.

Matt Cooper commented, "Ultimate Finance is a great business with a strong position in what is a growing market - driven by reduced and uncompetitive bank finance facilities to SMEs in the UK. Ultimate Finance's services are very important in supporting smaller UK businesses, especially given the current economic climate, and I am delighted to be joining the Group at such an exciting time of its development."

Mr Roger McDowell, is an experienced director of 30 years' standing and currently holds Non-Executive positions at several listed companies.

Roger McDowell commented, "Ultimate Finance provides a vital service to SMEs, of which there are approximately 4.8 million in the UK and they will be crucial to the recovery of the UK economy. I have been hugely impressed with the expertise within the Group, and the quality and highly supportive shareholder base. I very much look forward to working with the dedicated and enthusiastic Ultimate Finance team."

For further information please contact:

 
Ultimate Finance Group plc             Tel: [phone] 
Clive Garston, Chairman 
 
Arbuthnot Securities                   Tel: [phone] 
 (Nominated Adviser and Joint Broker) 
Antonio Bossi / Paul Gillam 
WH Ireland                             Tel: [phone] 
 (Joint Broker) 
John Wakefield / Richard Smith 
 
Threadneedle Communications            Tel. [phone] 
 (Financial PR) 
John Coles / Fiona Conroy 
 

Regulatory information

Matthew J Cooper (44 years old)

Matt Cooper is, or has been, a Director of the following companies in the last five years:

 
 Current directorships             Previous directorships 
 10Duke Software Ltd               Activ8 Intelligence Limited 
  Carbon Leadership LLP             Axiant 
  Imaginatik Plc                    Badenoch and Clark Limited 
  Knowledge & Merchandising Inc.    Carbon Search Limited 
  Ltd                               Global Collect Limited 
  My Dish Limited                   New Sadler's Wells Limited 
  Octopus Capital Limited           Octopus Phoenix VCT Plc 
  Octopus Investments Limited       Online All-Stars Limited 
  Octopus Eclipse VCT Plc           TDX Group Limited 
  Octopus Eclipse VCT 2 Plc         The Core Business plc 
  Octopus Eclipse VCT 3 Plc         Sadler's Wells Limited 
  Octopus Eclipse VCT 4 Plc         Sadler's Wells Development Trust 
  Octopus Apollo VCT 1 Plc          Sadlers' Wells Foundation 
  Octopus Apollo VCT 2 Plc          Sadler's Wells Trust Limited 
  Octopus Apollo VCT 3 Plc 
  Octopus Titan VCT 1 Plc 
  Octopus Titan VCT 2 Plc 
  PPL Realisations 2011 Limited 
 

Matt was a Non-Exec Director of The Core Business plc, which entered into a CVA in March 2010. At that time the company had creditors of approximately GBP1.3m.

Save as disclosed above, there are no further disclosures to be made in relation to Matt Cooper under Schedule Two, paragraph (g) (i) - (viii) of the AIM Rules for Companies.

Roger S McDowell (56 years old)

Roger McDowell is, or has been, a Director of the following companies in the last five years:

 
 Current directorships         Previous directorships 
 Augean plc                    IDMOS Public Limited Company 
  Avingtrans Plc                Intec Telecom Systems Limited 
  Corsair Techinvest Limited    Onward Digital Limited 
  Disperse Limited              Redhall Group Plc 
  Dovehoco 201 Limited 
  Fineguard Limited 
  I S Solutions Plc 
  One Advice Group Limited 
  Swallowfield Plc 
 

Town Index Limited was placed into creditors voluntary liquidation on 23 January 2001 with an estimated deficiency as regards to creditors of GBP2.0 million.

Wax Digital Limited was placed into creditors voluntary liquidation on 14 June 2001 with an estimated deficiency as regards to creditors of GBP1.4 million.

Advanced Fluid Connections plc was placed into administrative receivership on 24 March 2006 with an estimated deficiency as regards to creditors of GBP17.8 million

Idmos plc was placed into administration on 16 April 2008. The estimated deficiency as regards creditors was GBP0.4 million.

Save as disclosed above, there are no further disclosures to be made in relation to Roger McDowell under Schedule Two, paragraph (g) (i) - (viii) of the AIM Rules for Companies.

About Ultimate Finance Group plc

Ultimate Finance group is a leading provider of financial solutions to SMEs across the UK. The Company is headquartered in Bristol with offices in Manchester, Tunbridge Wells and Birmingham and through its three subsidiaries, (ultimate invoice finance, Ashley Commercial Finance, and ultimate asset finance), provides support to SMEs by funding their growth. As bank lending to SMEs is increasingly restricted in the current climate, the benefits of ultimate finance's flexible and fast-moving solutions become even more compelling.

This information is provided by RNS

The company news service from the London Stock Exchange

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