Coral Products PLC Business and Asset Purchase (3700Q)

TIDMCRU

RNS Number : 3700Q

Coral Products PLC

11 September 2017

CORAL PRODUCTS PLC

("Coral" or the "Company")

Business and asset purchase

Coral announces that its wholly owned Manchester based subsidiary Tatra Rotalac Limited has today conditionally agreed to acquire the assets and continuing business of the Tambour shutter systems division of Pal Group (Operations) Limited. Cash consideration of GBP200k is being paid from existing resources, plus an amount equal to the value of the stock held on completion by the Tambour shutter systems division.

The purchase is expected to complete on 13 October 2017.

The business consists of various tooling, outstanding orders, customer lists and technical specifications.

Whilst it is not material in a group context, with annual sales of circa GBP250k and likely contribution of GBP100k, it is significant in that it removes a competitor, and also extends and improves the Company's existing Tambour shutters division product range.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
 Coral Products plc            Tel: 07703 518 148 
 Joe Grimmond, Chairman 
 
 Cairn Financial Advisers      Tel: 020 7213 0880 
  LLP 
 Nominated Adviser 
 Tony Rawlinson / Liam 
  Murray 
 
 Daniel Stewart & Company      Tel: 020 7776 6550 
  plc 
 Broker 
 David Lawman 
 
 Capital Markets Consultants   Tel: 07515 587 184 
  Limited 
 PR 
 Richard Pearson

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 11, 2017 06:11 ET (10:11 GMT)

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