REG - Coral Products PLC - Compliance with bank lending covenants

Coral ProductsAnnouncement

01/10/2018 07:05

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 Chairman
 
Mick Wood, Chief Executive Officer


Tel: 07703 518 148
 
Tel: 01942 590272




 


 




 


 




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


 




 
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified 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 reflect 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
 




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
 
 
MSCBLGDCIBDBGII