Directorate Change

Monday, July 22, 2013

RNS Number : 7654J
Corac Group Plc
22 July 2013

 

22nd July 2013

CORAC GROUP PLC

("Corac" or the "Group")

 

Directorate Change

 

Corac Group plc, a group of innovative UK based engineering companies, active in energy and environmental technologies, is pleased to announce changes to its Board of Directors which will take effect today.

 

The roles of Chief Financial Officer (CFO) and Chief Operating Officer (COO), previously both held by Mark Crawford, will be separated to reflect the increasing breadth of Group business activities both in the UK and overseas. Going forward, Mark will focus on the role of COO to drive business growth and delivery across the three operating companies.

 

To support this aim, the Board is delighted to welcome Jon Carter as CFO with immediate effect, taking over responsibility for corporate financial management and supporting investor relations. Jon joins Corac from IPL Group Limited, a privately owned IT services company specialising in intelligent business solutions and technical consulting, where he was CFO. Jon is a Chartered Accountant and has many years of experience as CFO in private equity backed and leveraged companies in the manufacturing & technology sectors. He qualified as an ACA with Coopers & Lybrand.

 

Phil Cartmell, Chief Executive of Corac Group commented:

 

"We are pleased to welcome Jon to the Board of Corac Group. As CFO, his accounting and corporate finance experience will add to our talented team and will blend well with Mark's commercial and operational skills as COO. These appointments strengthen the Board and position us well to continue the expansion of the Group."

 

Jon Carter has been director of the following companies during the past five years:

 

IPL Group Limited

Resigned 8/03/13

IPL Information Processing Limited

Resigned 8/03/13

IPL Holdings Limited

Resigned 8/03/13

IPL Type B Limited

Resigned 8/03/13

IPL Consultancy Services Limited

Resigned 8/03/13

IPL Software Products Limited

Resigned 8/03/13

 

Jon is a trustee of BCPC, Bath Centre for Psychotherapy and Counselling

 

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

 

Ends

For further information please contact:

Corac Group plc

www.corac.co.uk

Phil Cartmell, Chief Executive Officer

01753 285 800

Jon Carter, Chief Financial Officer

 

Cenkos

 

Ivonne Cantú / Elizabeth Bowman - Nomad

020 7397 8980

Jeremy Warner-Allen - Sales

 

MHP Communications

020 3128 8100

Reg Hoare / Vicky Watkins / Naomi Lane

 

NOTES TO EDITORS

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