REG - Coral Products PLC - Business and Asset Purchase <Origin Href="QuoteRef">CRU.L</Origin>

Coral ProductsAnnouncement

11/09/2017 11:15

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 200k 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 250k and likely contribution of 100k, 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 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 Limited
Tel: 07515 587 184
PR

Richard Pearson


This information is provided by RNS
The company news service from the London Stock Exchange
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