TPG.L Regulatory News (TPG)

11 Jan 2006 07:01

Corac Group Plc11 January 2006 For Immediate Release 11 January 2006 CORAC GROUP PLC APPOINTMENT OF DIRECTOR Corac Group plc is pleased to announce the appointment of Thomas Edwin IvingsFCCA (38) as part-time Finance Director and Company Secretary. Since qualifyingas a Chartered Certified Accountant in 1995, Tom has acted as a business advisorand interim Finance Director to a number of SMEs across the manufacturing,distribution, retail and services sectors. His broad skills base and experiencein dealing with high growth small companies will be invaluable to the futuredevelopment of the Group. Commenting on the appointment, Gerry Musgrave, Executive Chairman said: "We are delighted that Tom is joining the Board of Corac and his extensiveexperience, particularly in SMEs will help us in the management of change as wemove to a period of commercial exploitation of Corac's intellectual property." Thomas Ivings is a director of Optima Business Services Ltd. No further information falls to be disclosed under the AIM rules. For further information: Corac Group plc 01895 813463Prof. Gerry Musgrave, Executive Chairman Buchanan Communications 020 7466 5000Richard Darby, Ben Willey NOTES TO EDITORSCorac is an intellectual property, engineering and licensing group which holdsmany patents. It focuses on high speed electrical direct drive turbo machinerybased on its unique expertise in gas bearings. Corac has created an innovative'no oil' turbo compressor together with a unique gas seal, and is part of ajoint industry programme for the downhole gas extraction industry.Further information on Corac is available on the internet at www.corac.co.uk This information is provided by RNS The company news service from the London Stock Exchange