REG - Coral Products PLC - Repayment of CBIL
RNS Number : 2735XCoral Products PLC30 April 2021Coral Products plc
("Coral" or the "Company")
Repayment of Coronavirus Business Interruption Loan
Coral Products plc, a specialist in the design, manufacture and supply of plastic products based in Wythenshawe, Manchester is pleased to report that further to the continuing strategic review it has repaid the outstanding balance, in the sum of £402,380.96, of the Coronavirus Business Interruption Loan ("CBIL"). This repayment allows the Company to return to normal commercial operations.
Executive Chairman, Joe Grimmond, said: "Following the repayment of the CBIL, we are enabling a return to normal business activity, with three profitable, cash generative businesses, a strong balance sheet and a healthy cash balance. This will support organic growth whilst allowing for us to seek acquisitions to augment our existing activities and reward shareholders for their long term support."
For further information, please contact:
Coral Products plc
Joe Grimmond, Executive Chairman
Tel: 07703 51 8148
Nominated Adviser & Broker
WH Ireland Limited
Adrian Hadden
Darshan Patel
Lydia Zychowska
Jasper Berry (Corporate Broking)
Tel: 0207 220 1666
Capital Markets Consultants Limited
Richard Pearson
Tel: 07515 587 184
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