Business
Business and Asset Purchase
Business and Asset Purchase.
About this update from Coral Products Plc
[{"type":"text","content":"\n \nRNS Number : 3700Q Coral Products PLC 11 September 2017 \n\nCORAL PRODUCTS PLC\n(\"Coral\" or the \"Company\")\n \nBusiness and asset purchase\n \nCoral announces that its wholly owned Manchester based subsidiary Tatra Rotalac Limited has today conditionally agreed to acquire the assets and continuing business of the Tambour shutter systems division of Pal Group (Operations) Limited. Cash consideration of £200k is being paid from existing resources, plus an amount equal to the value of the stock held on completion by the Tambour shutter systems division.\n \nThe purchase is expected to complete on 13 October 2017.\n \nThe business consists of various tooling, outstanding orders, customer lists and technical specifications.\n \nWhilst it is not material in a group context, with annual sales of circa £250k and likely contribution of £100k, it is significant in that it removes a competitor, and also extends and improves the Company's existing Tambour shutters division product range.\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\nEnquiries:\n\n\n\n\nCoral Products plc\n\n\nTel: 07703 518 148\n\n\n\n\nJoe Grimmond, Chairman\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP\n\n\nTel: 020 7213 0880\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\nTony Rawlinson / Liam Murray\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDaniel Stewart & Company plc\n\n\nTel: 020 7776 6550\n\n\n\n\nBroker\n\n\n\n\n\n\n\nDavid Lawman \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCapital Markets Consultants Limited\n\n\nTel: 07515 587 184\n\n\n\n\nPR\n\n\n\n\n\n\n\nRichard Pearson\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBFLFFDKFBBBD\n ","length":4712,"tagName":"div"}]