Issue of Equity

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  Identification code	Ordinary shares of 1p 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 -  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: [phone]
Nominated Adviser & Broker Cenkos LLP Stephen Keys Charlie Combe	Tel: [phone]
Financial PR Novella Tim Robertson	Tel: [phone]

 

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