TPG.L Regulatory News (TPG)

26 March 2013

CORAC GROUP PLC

("Corac" or the "Group")

Directorate Change

Corac Group plc, a leading engineering company in energy and environmental technologies, serving the global oil and gas, defence and industrial markets, today announces an update on its Board governance and structure including the appointment of Julia Henderson as non-executive director with immediate effect.

Ms Henderson has over twenty five years' experience of advising entrepreneurial growth companies in a wide range of sectors. Her corporate finance career began at ANZ Merchant Bank after which she became a co-founder of Beeson Gregory Limited (now part of Investec). Ms Henderson is now an independent consultant and non-executive director with private and quoted mid-market companies. She was non-executive Chairman of GTL Resources plc until its takeover last year and is currently a non-executive director of Alkane Energy plc and ECO Animal Health Group plc.

Reflecting the significant acceleration of the Group's development in the last year, the Board has resolved that now is the appropriate time to appoint an independent non-executive Chairman. Richard King will step up to the role of Non-Executive Chairman with immediate effect, capitalising on his existing knowledge of the Corac Group and his broad financial and business management experience. Accordingly, Phil Cartmell will continue to focus on providing vision, strategy and communication with investors, customers and staff as Chief Executive Officer of Corac.

Julia Henderson will become Chairman of the Audit Committee replacing Richard King and Rohan Courtney will continue as Chairman of the Remuneration Committee.

Mark Crawford remains Chief Financial Officer and Mike Webb, Group Financial Controller, becomes Company Secretary.

Phil Cartmell, CEO of Corac commented:

"Following a transformational year for Corac, we now enter the next stage in our growth. A key part of my role is to deliver the vision and strategy for the business and I look forward to this challenge supported by a stronger Board with Richard King agreeing to take the reins as non-executive Chairman."

"I am also delighted that Julia Henderson is joining Corac's Board. Her extensive experience of advising entrepreneurial companies will be invaluable as we look to take advantage of the many opportunities open to the Group."

Ms Henderson has been a director of the following companies during the past five years:

Previous

GTL Resources plc

GTL Resources Overseas Investments Limited

Mackendrick Limited

Cool Milk Group Limited

Cool Milk at School Limited

Current

Alkane Energy plc

ECO Animal Health Group plc

Ms Henderson was previously a director of TTG Europe Limited, which was placed into administration by its board on 10 May 2005 and subsequently placed into creditors' voluntary liquidation on 24 October 2006.

There are no further disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules.

Ends

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NOTES TO EDITORS

Corac is a leading UK based engineering company in energy and environmental technologies. The Group produce valuable solutions in compression systems, atmosphere control and heat exchangers for government, energy and industrial users. It has traded shares on the London Alternative Investment Market (AIM) since July 2001.