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Coral Products plc announces acquisition of Tatra Plastics Manufacturing Ltd and placing of new ordinary shares


Wednesday, 2 Jul 2014 02:00am EDT 

Coral Products plc:Says it has conditionally acquired the entire issued share capital of Tatra Plastics Manufacturing Ltd.Consideration of 2.5 mln pounds.Consideration comprising 2.0 mln pounds to be satisfied in cash and 0.5 mln pounds to be satisfied by the issue of 3,333,333 new ordinary shares to the vendors of Tatra at a price of 15 pence per share.Cash consideration is being satisfied from the proceeds of placing of 12,592,593 new ordinary shares at 13.5 pence per share by Hume Capital Securities plc with new and existing investors to raise 1.7 mln pounds for Coral and 0.5 mln pounds of bank debt.Application has been made to the London Stock Exchange for the Consideration Shares and the Placing Shares to be admitted to trading on AIM. 

Company Quote

13.5
0.0 +0.00%
17 Dec 2014