Business
Completion of sale of property
Completion of sale of property.
About this update from Coral Products Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0304T\n Coral Products PLC\n 22 November 2021\n \n \n \n \n CORAL PRODUCTS PLC\n \n \n \n \n \n ('Coral' or the 'Company' or the 'Group')\n \n \n \n \n \n Completion of sale of property\n \n \n Coral Products plc, a specialist in the design, manufacture and supply of plastic products based in Wythenshawe, Manchester, is pleased to announce the completion on 19 November 2021 for the sale of the Company's freehold premises at North Florida Road Haydock, Merseyside to Glenbrook CP Limited for approximately £3.5 million, as previously announced on 5 May 2021.\n The net proceeds of £3.5 million have now been received, and will be used to support organic growth whilst allowing the Company to seek acquisitions to augment its existing activities and reward shareholders for their long term support.\n The profit on the sale of approximately £900,000 will be accounted for in our full year results to 30 April 2022.\n The Company will report free cash and cash equivalents as at 31 October 2021, in its interims results, of approximately £5.5 million, this is before the property proceeds.\n \n ENQUIRIES\n :\n \n Coral Products plc\n Joe Grimmond, Executive Chairman Tel: 07703 518148\n \n WH Ireland, Nominated Adviser and Broker Tel: 020 7220 1666\n Adrian Hadden\n Darshan Patel\n Megan Liddell\n \n Capital Markets Consultants Limited Tel: 07515 587184\n Richard Pearson \n \n \n \n This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.\n END\n \n DISEAXFNFEKFFFA\n ","length":3605,"tagName":"div"}]