4 May 2010 07:00
| For Immediate Release | 4 May 2010 |
Corac Group plc ("Corac" or the "Company")
Directors' Dealing
On 30 April 2010 Corac granted options over 1,200,000 ordinary shares, made up of options over 300,000 ordinary shares to each of Gerry Musgrave - Executive Chairman, Phil Cartmell - CEO, Mark Crawford - Commercial & Finance Director and Julian Reed - Chief Technical Officer. They are exercisable at 21.75 pence per share between 30 April 2011 and 30 April 2020.
Following the above transactions Gerry Musgrave holds 1,445,530 ordinary shares and options over 2,493,334 ordinary shares, Phil Cartmell holds 100,000 ordinary shares and options over 2,300,000 ordinary shares, Mark Crawford holds options over 800,000 ordinary shares and Julian Reed holds 13,300 ordinary shares and options over 1,211,668 ordinary shares.
For further information please contact:
| Corac Group plc Professor Gerry Musgrave, Executive Chairman Phil Cartmell, CEO Mark Crawford, Commercial & Finance Director
| 01895 813463 |
| FinnCap Geoff Nash, Corporate Finance Charlotte Stranner, Corporate Finance Brian Patient, Sales
| 020 7600 1658 |
| Buchanan Communications Richard Darby Ben Romney
| 020 7466 5000 |
NOTES TO EDITORS
Corac is an intellectual property and engineering group which holds many patents. It focuses on high speed electrical direct drive turbo machinery based on its unique expertise in gas bearings. Corac has created an innovative 'no oil' turbo compressor and is part of a joint industry programme for the downhole gas extraction industry.