19th Feb 2009 15:11
19 February 2009
Corac Group plc
(the "Company")
Admission to trading on AIM of Placing Shares
On 2 February 2009 the directors of Corac, the intellectual property, engineering and licensing company specialising in compressor technology, announced the placing of up to 7,662,835 new ordinary shares of 10p each ("Ordinary Shares") in the capital of the Company ("Placing Shares") at 13.05 pence per Ordinary Share to raise approximately £1.0 million net of expenses.
Pursuant to this announcement and following receipt of subscription monies in respect of all of the Placing Shares, application has been made for the Admission to trading on AIM of the 7,662,835 Placing Shares which is expected to be effective on 25 February 2009.
The total number of voting Ordinary Shares in issue following this issue will be 94,212,157.
For further information please contact:
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Professor Gerry Musgrave |
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Executive Chairman |
01895 813463 |
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Ivonne Cantu/Camilla Hume - Corporate Finance |
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Christian Hobart - Sales |
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Cenkos Securities plc |
020 7397 8900 |
NOTES TO EDITORS
Corac is an intellectual property, engineering and licensing 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 together with a unique gas seal, and is part of a joint industry programme for the downhole gas extraction industry.
Further information on Corac is available on the internet at www.corac.co.uk
Related Shares:
TPG.L