Coral Products Plc

("CRU" or the "Company")

Directorate Resignation

Coral Products plc, a group of specialist businesses in the design, UK manufacture and omni-channel supply of a wide range of bespoke plastic products based in Wythenshawe, Manchester, announces the resignation of Sharon Tinsley, Group Finance Director, who will step down from the Board on 31st January 2025.

The Board intends to appoint Paul Rice (ACCA), currently Group Financial Controller as Group Finance Director on completion of the mandatory compliance checks.  Paul Rice has served as the Financial Director for the Coral Products Group Flexibles Division and Finance Director of our wholly owned subsidiary Film & Foil Solutions Ltd since 2013. 

Joe Grimmond, Chairman of Coral Products, commented: "Sharon has been a great asset to the group since her appointment in February 2017 and, on behalf of the Board, we would like to thank her for her valued contribution and wish her every success in the future."

"Further to our update on 14th October 2024, I am pleased with the progress the group has made to resize our operations, reduce costs, and identify further efficiencies. Whilst the trading environment remains uncertain, I am confident we are well-positioned to benefit from the cost efficiencies we are now realising and the opportunities across our markets." 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF EU REGULATION NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.