Coral Products PLC - Manchester, England-based specialist in the design, manufacture and supply of plastic products - Says trading for the year ending April 30 has started well, and is trading in.
IN BRIEF: Coral Products buys custom manufacturing firm Manplas lse.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lse.co.uk Daily Mail and Mail on Sunday newspapers.
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.