Coral Products PLC
06 October 2026
Coral Products Plc
(“Coral”, the “Company” or the “Group”)
Related Party Transactions
Coral Products plc, the specialist in the design, manufacture and supply of plastic products, announces the following historic related party transactions ("Transactions") pursuant to AIM Rule 13 which have recently come to the attention of the Board.
In September 2025, the Company was considering a possible acquisition of certain assets, which were being sold by the administrator of a company at the time. The lawyers acting of the administrator required a deposit of £500,000 to be paid by potential buyers to be held in their solicitors client account. On 26 and 29 September 2025, Ian Hillman, at the time Chief Executive Officer and a director of the Company, on his own initiative provided £50,000 and £450,000 from his own bank account directly to the Company’s bank account.The transaction did not proceed and the £500,000 was repaid to Mr Hillman by the Company on 3 October 2025.
On 16 and 17October 2025, Ian Hillman, acting as Chief Executive Officer and director of the Company, made two payments of £50,000 each to the Company’s bank account in preparation for the anticipated purchase of certain assets from AAC Cyroma. The £100,000 was eventually repaid to Mr Hillman by the Company on 30 April 2026.
The Board was not informed of the two Transactions at the time, and were only recently notified of the Transactions by the Company’s auditors on 28 September 2026 as part of their audit review process. No interest or other fee was paid to Mr Hillman in relation to either of the Transactions. The above transactions are deemed to be Related Party Transactions pursuant to AIM Rule 13. The directors of the Company who are considered independent for the purposes of the Transactions, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider that, at the time they were entered into, the terms of the Transactions were fair and reasonable insofar as the Company's shareholders are concerned.
The Directors of the Company take responsibility for this announcement.
For further information, please contact:
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Enquiries: |
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Coral Products plc David Low
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Executive Chairman
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0161 946 9460
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Cairn Financial Advisers LLP Sandy Jamieson / Ludovico Lazzaretti |
NOMAD and Broker |
020 7213 0880 |
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