REG - Coral Products PLC - Issue of Equity

Coral ProductsAnnouncement

28/10/2022 07:00

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RNS Number : 4190E  Coral Products PLC  28 October 2022

28 October 2022

Coral Products plc

(the "Company", the "Group" or "Coral")

 

Issue of Equity

 

Coral Products plc (AIM: CRU), a specialist in the design, manufacture and
supply of plastic products, announces that further to the announcement on 12
October, an application has been made to the London Stock Exchange for
admission of securities in respect of 4,335,055 new ordinary shares of 1
pence each ("New Ordinary Shares"). It is expected that admission to AIM will
become effective on or around 2 November 2022.

Pursuant to the authority approved by shareholders at the Company's Annual
General Meeting dated 29 September 2022, the Company will transfer a total of
6,250,000 ordinary shares in the company, 1,914,945 ordinary shares held by
the Company in treasury and the New Ordinary Shares to Matthew Staples and
Kelly Staples. These shares will be issued in part payment for the acquisition
of Ecodeck Grids Limited as per the RNS announcement dated 12 October 2022.
The Consideration Shares have a lock-in period of 12 months from the date of
the acquisition. Matthew and Kelly Staples will receive 3,125,000 ordinary
shares each which represents 3.46% of the issued share capital.

Following the issue of the New Ordinary Shares, the Company has 90,277,589
ordinary shares in issue. Therefore, the total number of voting rights in the
Company is 90,277,589 ordinary shares, this number may be used by shareholders
as the denominator for the calculations by which they determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and Transparency
Rules.

The information below, set out in accordance with the requirements of the EU
Market Abuse Regulation, provides further detail on shares acquired.

     Details of the trade:
 a)  Name                                                         Coral Products plc
 2   Reason for the notification
 a)  Position/status                                              Treasury Share Account
 b)  Initial notification/ Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Coral Products plc
 b)  LEI                                                          213800M2XLY2QGBMUN82
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of 1p

      Identification code

                                                                  GB0002235736
 b)  Nature of the transactions                                   Issue of Ordinary Shares
 c)
     Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  16.0p     6,250,000
 d)  Aggregated information

     -     Aggregated volume                                      6,250,000

     -     Price                                                  16.0p
 e)  Date of the transaction                                      2 November 2022
 f)  Place of the transaction                                     London Stock Exchange, AIM

Price(s) and volume(s)

 Price(s)  Volume(s)
 16.0p     6,250,000

d)

Aggregated information

-     Aggregated volume

-     Price

 

6,250,000

16.0p

e)

Date of the transaction

2 November 2022

f)

Place of the transaction

London Stock Exchange, AIM

 

For further information, please contact:

 

 Coral Products plc

 Joe Grimmond, Chairman                         Tel: 07703 518 148

 Nominated Adviser & Broker

 Cenkos LLP                                     Tel: 020 7397 1966

 Stephen Keys

 Charlie Combe

 Financial PR                                   Tel: 020 3151 7008

 Novella

 Tim Robertson

 

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