RE: Coral Soft Activist Writeup6 May 2026 09:30
OPERATIONAL & STRATEGIC HIGHLIGHTS:
· Restructured and re-sized the business with overhead reduction (including senior management positions)
· Successful correction of the operating performance of the £3M investment in machines and tooling, now delivering target sales levels and vertical integration within the Group
· £1.821M capital investments in the year to support development and growth in future years
· Successful strategic acquisition of Arrow Film Converters Ltd ("Arrow Film"), as announced on 1 April 2025, which strengthens the Group's 'Flexibles Division'
· Greater asset utilisation and capacity increases from existing equipment with a £50M manufacturing capacity on a Group basis
· Secured the renewal of a 3-year supply agreement for leading UK Telecommunications contract announced on 4 March 2025 and effective from April 2025
· New business wins in H2 carrying into FY26
· Completed the sale and leaseback of two properties in the period
· Successfully concluded long-standing insurance claim from Film & Foil Solutions Ltd at expected value
· Paul Rice appointed as Group Finance Director on 17 February 2025
POST YEAR END OPERATIONAL HIGHLIGHTS:
· Ian Hillman appointed as Group CEO in May 2025 and Rob David appointed as Group Operations Director
· Successful closure and operational integration of Customised Packaging Ltd (CPL) into the Manplas Ltd business
· The Group purchased 203,000 of its own shares into treasury at an average cost of 9.7p. Following these purchases, the Group's total number of ordinary shares carrying voting rights is 88,829,697