Launch of Ultimate Asset Finance Limited

 

TIDMUFG 
 
 
Ultimate Finance Group PLC 
01 June 2010 
 
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                                                                     1 June 2010 
 
                           Ultimate Finance Group plc 
 
              Launch of Ultimate Asset Finance Limited to increase 
                      services to current and new clients 
 
Ultimate Finance Group plc ("Ultimate" or the "Company"), the AIM-quoted 
factoring, invoice discounting and financial solutions provider to the SME 
sector, announces the establishment of a new subsidiary, Ultimate Asset Finance 
Limited ("UAF"). 
 
UAF will provide hire purchase and leasing facilities to small and medium-sized 
businesses to assist with the purchase of typically lower-cost items. Asset 
finance is a further addition to the Company's services following the 
establishment of Ultimate Trade Finance in March. 
 
Ultimate Asset Finance not only enhances the range of financial services 
available to UFG customers through its offices in Bristol, Manchester and 
Tunbridge Wells, it also creates an attractive additional offering to potential 
users of the Company's throughout England and Wales. Many existing UFG clients 
will already utilise either HP or leasing and will thus be a ready target 
market. 
 
The Managing Director of UAF will be Andrew Ribbins, who was involved in the 
formation of Voss Finance Limited, a niche operator in the asset finance market, 
becoming its Managing Director in 2007 after a period as Sales Director. With 26 
years in the finance industry, predominately in the provision of asset finance 
to SMEs, Andrew has major experience of both new business acquisition and the 
running of a niche finance company. 
 
"I am most enthusiastic about Ultimate Asset Finance," said Andrew Ribbins. "We 
can make a difference by getting close to our customers and managing margin and 
customer relations more effectively. The market has undergone significant 
changes in the last 12 months and a number of major national providers have 
withdrawn." 
 
UAF will be financed by two new facilities arranged by the Company, with Siemens 
Financial Services Limited and with Singers Corporate Asset Finance Limited. 
 
Richard Pepler, Chief Executive of Ultimate Finance Group plc, said: "We are 
well placed to take advantage of the opportunities in the asset finance market, 
having clients who will need our services from day one. We are also certain 
that, with the experience and skills of the UFG team, all new clients will 
receive a level of service that few in the market are able to match." 
 
Further information: 
Ultimate Finance Group plc: 
+-------------------------------+---------------------------------+ 
| Richard Pepler, Chief         |            [phone] | 
| Executive                     |                                 | 
| [e-mail] |                                 | 
+-------------------------------+---------------------------------+ 
| www.ultimatefinance.co.uk     |                                 | 
+-------------------------------+---------------------------------+ 
 
 Media enquiries: 
Allerton Communications 
+-----------------------------------+---------------------------------+ 
| Peter Curtain                     |            [phone] | 
| [e-mail] |                                 | 
+-----------------------------------+---------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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