Business
Posting of Annual Report, Notice of AGM and GM
Posting of Annual Report, Notice of AGM and GM.
About this update from Coral Products Plc
[{"type":"text","content":"\n \n \n 7 September 2022 \n \n \n \n Coral\n \n \n Products plc\n \n \n \n \n (\"Coral\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Posting of Annual Report, notice of AGM and\n \n \n \n \n proposed cancellation of share premium account and capital redemption reserve\n \n \n \n \n \n \n \n \n Coral Products PLC, a specialist in the design, manufacture and supply of injection moulded plastic products based in Wythenshawe, Manchester announces that its report and accounts for the year ended 30 April 2022 together with a notice of its Annual General Meeting (\"AGM\"), to be held at 12:00 p.m. on 29 September 2022 at Tatra Rotalac Limited, Southmoor Road, Wythenshawe, Manchester, M23 9DS, will today be posted to shareholders of the Company.\n \n \n Coral further announces that a circular\n convening a general meeting on 29 September at 12.15 p.m. (or as soon thereafter as the Company's AGM has concluded) will be posted to shareholders later today to seek approval to cancel the Company's share premium account and capital redemption reserve, which are steps required to allow the future payment of dividends.\n \n \n A copy of the circular will be available at www.coralproducts.com\n \n \n The Companies Act 2006 only permits a company to make distributions to its shareholders out of its profits available for that purpose. Such profits are broadly a company's accumulated realised profits so far as not previously utilised by distribution or capitalisation less its accumulated realised losses.\n \n \n If the proposed share premium cancellation and proposed capital redemption reserve cancellation, are approved by shareholders at the general meeting, they will be subject to the scrutiny of, and confirmation by the High Court of Justice of England and Wales (\"High Court\").\n \n \n Following the implementation of the share premium cancellation and the capital redemption reserve cancellation there would be no change in the nominal value of the Company's ordinary shares or the number of ordinary shares in issue. The share premium cancellation and the capital redemption reserve cancellation themselves will not involve any distribution or repayment by the Company and will not reduce the under...