Coral Products PLC Compliance with bank lending covenants (4190C)

TIDMCRU

RNS Number : 4190C

Coral Products PLC

01 October 2018

CORAL PRODUCTS PLC

("Coral" or the "Company")

Compliance with bank lending covenants

In the Company's announcement of its results for the year ended 30 April 2018 dated 27 September 2018, it was noted in the Chairman's Statement that there had been historic breaches in the year ended 30 April 2018 of financial covenants in the Company's mortgage loan facility.

The facility provider has since confirmed that since the year end the Company has complied with the covenants. A formal waiver of the historic breaches has been requested. A further announcement will be released once a response has been received.

Enquiries:

 
 Coral Products plc 
 Joe Grimmond, Non-executive    Tel: 07703 518 148 
  Chairman 
                                 Tel: 01942 590272 
  Mick Wood, Chief Executive 
  Officer 
 
 
 Cairn Financial Advisers LLP   Tel: 020 7213 0880 
 Nominated Adviser 
 Tony Rawlinson / Liam Murray 
 
 Daniel Stewart & Company plc   Tel: 020 7776 6550 
 Broker 
 David Lawman 
 
 Capital Markets Consultants    Tel: 07515 587 184 
  Limited 
 PR 
 Richard Pearson

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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October 01, 2018 02:00 ET (06:00 GMT)

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