Repayment of CBIL

RNS Number : 2735X

Coral Products PLC

30 April 2021

 

Coral 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: [phone]
Nominated Adviser & Broker WH Ireland Limited Adrian Hadden Darshan Patel Lydia Zychowska Jasper Berry (Corporate Broking)	Tel: [phone]
Capital Markets Consultants Limited Richard Pearson	Tel: [phone]

 

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