Coral Products Share Discussion Threads

[base7] 14/1/2022 14:16

Volume usually low so anyone wanting to unload 1.3mil shares would struggle to sell in the market & I am sure that 15p was considered a fair compromise in order to yield £200k

[clocktower] 14/1/2022 07:47

A different of opinion as to the value of the shares, as the seller must have been happy to unload them for 15p.

Was it just another attempt to keep the share price from collapsing?

Remember these shares are not being cancelled, they could be back on the market at any time, for one reason or another.

Clearly they have no better idea what to do with the cash at this time it seems.

[this_is_me] 14/1/2022 07:39

The large holders listed on own almost 75% of the company. There has been no RNS about any of them selling.

[base7] 14/1/2022 07:25

We all now own a higher % of our share capital following yesterdays substantial buy.
A large holder clearly wants/wanted out & JG obliged inferring that our cash position remains strong & we continue to generate cash,ie this is not irresponsible use of our resources.

[clocktower] 13/1/2022 20:19

I did read it yesterday t i m. I was just saying that they needed to update the company website as it did not show anywhere the correct number of shares being held in treasury.
Nice rise today, well done folks, should get interesting now. Upwards and onwards.

[this_is_me] 13/1/2022 16:32

Clock,

You should have read yesterday's RNS and hxxps://coralproducts.com/aim-securities/:


TIDMCRU

RNS Number : 1263Y

Coral Products PLC

12 January 2022

Coral Products plc

("Coral" or the "Company")

Transaction in Own Shares

Coral Products plc (AIM: CRU), a specialist in the design, manufacture and supply of plastic products, announces that on 11 January 2022, pursuant to the authority approved by shareholders at the Company's Annual General Meeting dated 27 October 2021, the Company purchased 100,000 ordinary shares of 1 pence each ("Ordinary Shares") at a price of 14.74 pence each (the "Transaction").

The Board believes buying back shares at the current price represents an outstanding opportunity to buy back into treasury shares which can then be issued to fulfil the anticipated exercise of existing share options or in part payment for any future acquisition.

The Ordinary Shares, which have been purchased, will be held in treasury. Following the Transaction, the Company holds 5,963,000 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 79,979,534 shares, which may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

[hatfullofsky] 13/1/2022 14:11

Nice trade @ 11:45 - 1.34m @ 15p. Strange that the share price has not reacted. Largest volume since October.

Hope we get some news on the back of this

[temelco] 13/1/2022 13:45

Hm there must be a game afoot....

[temelco] 11/1/2022 16:47

A few more tucked away by JG?

[temelco] 06/1/2022 11:23

base 7 what a wonderful idea!!

[ifaze] 06/1/2022 11:09

V11SLR and anyone else invested via Barclays Smart(haha)Investor - although Barclays haven't told me this yet, apparently the problem arose because they thought the interim payment was an error and sent it straight back to the Registrars!!! This was apparently sent back to Barclays yesterday so hopefully the payment will be credited to our accounts soon. Wonder if they will own up to the reason for the delay.

[base7] 05/1/2022 15:30

I dont want my family to question my integrity ,should my demise come before that of JG,& therefore the identity of a lady called Coral who will hopefully continue making generous contributions into my bank account on a bi annual basis.

[clocktower] 05/1/2022 13:34

LOL - charo - No I like the old fart, he's an honest bloke I believe, and his efforts have been a blessing over the years.

I wish JG well but you have to face facts that the older you get, the nearer to your death bed you get,(I speak from personal knowledge - unfortunately, it would be nice to turn the age clock back) and one starts estate planning sooner rather than latter, even though we might wish to live a much longer healthy life.

So banana skins might not be the only thing that could cause an unexpected slide imo.

In JG's case it might have been to stick with it and find a solution when it was under 5p (which he did, thank heavens) or suffer a big loss at the time, and now he could be puzzled as to how he can turn a cash pile into a working model.

We will just have to wait and see if he starts digging us all graves or uses his tools to build something that will be an improvement on the last asylum. :-)

[temelco] 05/1/2022 11:09

Well said base7

[base7] 05/1/2022 10:59

I doubt whether JG expected to be still here by now but after 2 or 3 major setbacks he has had no option other than to protect his investmemt & , clearly, the disposal of the loss making building & business has turned our fortunes around, our share price having more than trebled since its recent lows & it is likely that this is all part of his exit strategy ,whether it be to sell out completely , use CRU as a reverse takeover vehicle,or expand further .The final option will take time which JG may feel is not on his side ( to quote The Stones)& he has struggled previously to find a CEO capable of growing the business.I have no plans on selling as a sustainable yield over 6% beats the bank & there remains scope for further upside-assuming no further banana skins

[ifaze] 05/1/2022 10:46

I think anyone who still chooses to run a business at age 74 probably enjoys the job - so if good health remains isn't likely to suddenly want to stop on reaching an arbitrary milestone like 75.
(Still no sign of my interim divs!)

[temelco] 05/1/2022 09:51

So JG 74 in March. Would it be reasonable to assume he might bow out by 75? Is that a potential timeframe for takeover/ sell out/whatever? Time as ever will tell....

[charo] 05/1/2022 08:45

Clock tower JG born March 1948,according to companies House.
He obviously did something to you to make you so anti.
Was also 4p when he joined.
As to power,China and plastic related problems these apply universally and as an industry plastics will remain ,however unfortunate, a significant sector and with forecast growth over next 10 years.
Not that JG will be around that long.

[clocktower] 04/1/2022 16:02

Hi all, Problem is charo - JG was lucky that he got us out of the pit he had got us into, and his eggs do not always hatch.

The high energy costs may start biting into the profits and the problems in China may not be over - and the cost of containers - so GP might yet have serious issues around the corner. Yes we know he is trying to bring production closer to home but at what cost.

Not only that, everyone is trying to do away with plastic products. He can shout all he likes about buying shares for holding in treasury but try selling them to an institution at a profit or getting a company to accept them in lieu of cash, unless he over pays for the company in question, and that will only be seen in time.

Remember this was 25/26p before he dug a ditch. How old is JG by the way?

[ifaze] 04/1/2022 11:30

Agree with you Charo. Been some hiccups along the way but I'm comfortable with having a v overweight position here. Less happy with Barclay's idiots not giving me my latest div. Anyone else got an update on that front?

[temelco] 31/12/2021 15:01

Well said Charo

[charo] 31/12/2021 14:57

Div paid 7 years out of 8 .
JG pays no attention to outside critics.
Restructed group including major operating company by strategic though small acquisitions and continued to make careful again strategic investment in capacity.
Interpak, Niemann,Totebuild and recycling etc.
This previously unattractive lame duck transformed into an attractive Swan.Which on sale left behind the golden egg we now have.
We can sell on or hatch and bring to wealthy maturity.
A xmas story for all.

[baddogrex1] 31/12/2021 10:56

I am a long term sufferer in Coral have been here since VCR boxes and DVD packages Have seen the Ferster family run this into the ground. Joe gets involved and bolts on some related business and we struggle along lurching from one unfavourable market condition to another with no dividend
We were at the mercy of the oil price because of Plastic feed stock costs
Now Oil is sky high we are making money?
Sure we had a recycling plant but that wasn’t a howling success was it ?
Do we even still have it

Fast forward and the factory has a new roof and it’s sold and suddenly we are profitable and paying a dividend
What has happened Have we become a money laundromat Can someone please explain WTF is going on.??

[base7] 31/12/2021 00:08

I have been anticipating that for over 4 years Charo & buying the dips accordingly.Hoping not to be still waiting in 4+ more years.Concerned my investment will become a legacy !

[temelco] 30/12/2021 10:35

Charo - that seems like a good plan. Still cheap as chips