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Investegate |Coral Products PLC Announcements | Coral Products PLC: Holding(s) in Company


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IN BRIEF: Coral Products buys plastics maker Customised Packaging


IN BRIEF: Coral Products buys plastics maker Customised Packaging
Wed, 3rd Mar 2021 13:51
Coral Products PLC - Manchester-based plastics manufacturer and distributor - Acquires plastics products designer, manufacturer and supplier Customised Packaging Ltd for GBP1.3 million. Notes this comprises GBP883,956 in cash and GBP366,044 from the issue of 3.33 million shares at a price of 11 pence per share to the sellers of Customised Packaging. Says an earn-out consideration will be payable to the sellers in the event that Customised Packaging s pretax profit at the end of this year is greater than GBP250,000. The additional payment will be equivalent to 30% of profits in excess of GBP250,000 for the 2020 period. ....

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