Jeremy & Richard

• In 2000, Richard Pepler and Jeremy Coombes left Bibby in the summer to develop their plan to launch their own Factoring / Invoice Discounting Company in the South West.
• The Business plan raised lots of interest, and the fundraising gathered momentum despite the 9/11 disaster, which weakened the investment markets considerably.
• The proposed name is changed several times, from Affinitas to Protocol, and eventually to Ultimate.
• Jeremy and Richard partner up with Brian Sumner in Manchester who is in the process of doing exactly the same as them. Combining business plans (which were almost identical anyway) they work together to create the new company with presence on day one in both Bristol and Manchester.

• The company was incorporated on the 10th January 2002.
• Admission to AIM took place on the 12th June, and trade commenced with the first client taken on in July.
• HBOS provided funding line of £5m.
• Head office based in serviced offices in Aztec West, Bristol.
• Claire Lewis, Operations Director, joined the group. She has 14 years experience in the Invoice Finance industry, and has worked in various senior operational roles. She enjoys skiing, art and cooking - especially when she can enjoy a cold crisp glass of Sauvignon Blanc along the way!

Jeremy & Richard

• The Head office in Bristol moved into larger premises to accommodate the fast growing team.
• Mark Harris joined plc Board as a Non — Executive Director, who was CEO of Glenmore Investments ltd, one of the group’s major shareholders.

• Ultimate moved away from HBOS and entered into a back-to-back receivables financing agreement with LTSB Commercial Finance Ltd in May, with an increased funding facility of £14m
• Ultimate increased its share capital as a result of the placing and offer for subscription, which raised 1.2 million pounds net of expenses.
• In September Ultimate recruited a third regional sales director, to cover the Midlands.
• Darren Newman (Financial Controller) was appointed to the main board in November.
• In November Mark Harris resigned as Non-Executive Director as a result of the proportional reduction in shareholding by Glenmore Investments Ltd.

• The Ultimate Northern Office moved to serviced offices in Cheadle
• Ultimate introduced its Debtor Protection scheme in conjunction with AIG.
• The first “Ultimate Cash” contract was concluded.
• Ultimate performed a significant migration of its Software solution from I-Factor to Aquarius (the first user of this software in the world)
• Darren Newman resigned as Finance Director and is replaced on a temporary basis by Shane Horsell
• The group recorded its first full years profit £92,000.

clockwise from left Richard, Shane, Jeremy & Brian

• Shane Horsell is appointed Finance Director in March. He has 24 years’ financial experience across a variety of sectors. Shane plays competitive tennis and is a Lawn Tennis Association qualified coach.
• The Ultimate Northern Office moved to more substantial and prestigious offices in Wilmslow and became the second fully operational client service centre in the group.
• Ultimate celebrated taking on their 200th client
• The group was shortlisted for the Best Factoring and Invoice Discounting Provider award by finance guide Business Moneyfacts.

Senior Management Team

• Brian Sumner resigned as CEO, superseded by Richard Pepler as acting CEO.
• Ultimate sponsored the Entrepreneur of the Year at the Bristol Evening Post Business Awards — which was won by World Wine Agencies, a Keynsham based Wine importer.
• Derek Ashford (Non Executive Director) resigned from the Board in October.
• Paul Atkins (Managing Director) one of the commercial finance industry’s key players in the Midlands, joined ultimate finance in October from Barclay’s Bank plc with over 20 years experience. Paul is married with 2 children and is a keen sports fan; and coaches a junior rugby side.

Richard

• Richard Pepler is formally promoted to Chief Executive Officer
• For the second year, Ultimate sponsored the Bristol Evening Post Entrepreneur of the Year Award.
• The international profile is enhanced by joining Factors Chain International.
• Ultimate’s third fully operational client service centre opens in Tunbridge Wells.
• Alastair Logan, Regional Director (South West), joined the group in November. Before joining the team, he worked at Cattles plc and at Bank of Scotland. Alastair is a Norwich City fan and enjoys skiing, golf and horse racing.

Jeremy

Manchester Team

• Jeremy Coombes is promoted to Group Managing Director in January
• The Northern offices moved into bigger premises to accommodate the growing team.

Andy & Hugh

Austin & Jayne

2010 was the biggest year yet for the Group.

• Bryn Ible (Regional Director - South West and Wales) joined in January having worked in Commercial Finance for the last 10 years. He enjoys playing football and golf, eating out and traveling. He is married with two daughters Phoebe Ithaca and Florence Athena.
• A new Regional Director, John Day joined the Manchester office, in February. John has previous experience from HSBC Trade Finance and Davenham Trade Finance. He enjoys making the most of Manchester, socialising with friends and going to live music gigs.
• Craig Stritch joined as Regional Director South West in February . He worked as a Business Development Manager at Barclays for five years. Craig is married with one daughter and enjoys playing rugby.
• In March, Austin Thorp was appointed as Managing Director for the Manchester Office. Austin has over 24 years experience in the finance sector. He worked for Davenham’s trade finance business where he was responsible for delivering an asset based lending product. Austin is married with four boys, the youngest of which are identical twins. He is a Manchester City season ticket holder and plays off a handicap of 14 at Worsley Golf Club.
• Ultimate Trade Finance was launched in April by Hugh Francis, who joined the team in February. Hugh has had various senior roles at Bank of Scotland, Liquidity Group (which later was purchased by Santander) and he helped set up Bibby Trade Finance Limited. A keen sports fan, Hugh is the father of three very active sons.
• Ultimate Asset Finance was launched in July, with Andrew Ribbins as Managing 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. Andy is married with two children. He is a qualified football coach and is interested in all sport, particularly football and rugby.
• John Offord (Regional Director — South West) joined the group in September 2010. He has been involved in the Commercial Finance industry for over 28 years, and has held senior roles at Alex Lawrie Factors (now LTSB Commercial) as well as running his own business finance consultancy. He likes to play tennis, watch rugby and is a school governor and parish councilor in his home village
• Caroline Langron, Managing Director South East, joined Ultimate in Oct 2010. She has worked in Invoice Finance for over 30 years, working for large organisations including Barclays Factoring and Bibby Factors as well as smaller independents. Outside of work, Caroline is an indulgent auntie and enjoys going to the theatre, watching films and downhill ski-ing
• Helen Scollick joined November 2010 having previously worked in Factoring and Invoice Discounting for 10 years at the Royal Bank of Scotland Commercial Services, Alex Lawrie Factors and Cattles Invoice Finance. Helen adopted two children and took a year out of work. She enjoys spending time with her family and friends, reading and going on holiday

Senior Management Team

• Martin Bennison, Sales Director in the South East, joined January 2011.Martin has previously held positions with Credit Lyonnais Commercial Finance, Bibby Financial Services and Aldermore Invoice Finance. He has a passion for kickboxing, which he holds a second degree black belt in and is a qualified instructor.
• Kevan Jones joined the Group in March 2011 from Finance South East Group, where he was a Board Director, and brings over 30 years’ experience in funding SMEs in a variety of ways, from traditional banking, acquisition finance, asset finance and invoice finance.
• Richard Pepler left Ultimate Finance to seek new challenges. Jeremy Coombes takes on the role as CEO.

• Ultimate Finance enter their tenth year of trading