TIDMCRU

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 GBP402,380.96, 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                    Tel: 07703 
  Joe Grimmond, Executive Chairman       51 8148 
 Nominated Adviser & Broker 
  WH Ireland Limited                   Tel: 0207 220 
  Adrian Hadden                        1666 
  Darshan Patel 
  Lydia Zychowska 
  Jasper Berry (Corporate Broking) 
 Capital Markets Consultants         Tel: 07515 
  Limited                             587 184 
  Richard Pearson 
 

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