RMDG Aerospace Limited

6 August 2014

Tricorn Group plc

('Tricorn' or the 'Group')

Sale of trade and certain assets of RMDG Aerospace Limited

Tricorn Group plc (TCN.L) the AIM quoted tube manipulation specialist, announces that it has agreed the sale of the trade, certain business assets and liabilities of its wholly-owned subsidiary RMDG Aerospace Limited ("RMDG "), to Avingtrans plc ("Avingtrans"), for a cash consideration of £1.1 million (the "Disposal"). The assets subject to the Disposal (the "Assets") relate to the manufacture of aerospace components. The Disposal is due to be completed on or before 12 August 2014, following employee consultation.

Key points of the Disposal:

· Allows the Group to focus on the remaining Transportation and Energy sectors where the Group has enhanced its scale and global reach; &

· Cash consideration of £1.1m, which will be used to reduce Group net debt.

The principal activity of RMDG, located in Swadlincote, Derbyshire is the manufacture of a range of rigid pipe assemblies and precision components for the aerospace sector. The Assets generated revenues of £3.2 million and an adjusted operating loss of £0.14 million during the year ended 31 March 2014. The net book value of the assets and liabilities being acquired is equivalent in value to the cash consideration. RMDG employs 29 people in the UK, all of whom are expected to transfer to Avingtrans following an appropriate consultation process.

Mike Welburn, Chief Executive of Tricorn, commented:

"Over the last 18 months Tricorn has made significant progress in developing its Transportation and Energy businesses where it has enhanced its scale and global reach. The sale of RMDG allows the Group to focus on these key areas where it has identified a higher level of opportunity for growth. Whilst RMDG made a positive contribution to Tricorn in the past there has been significant consolidation in the aerospace sector in more recent times which has meant the business does not have the scale of some of its competitors. The Board therefore strongly believes that the Disposal to a specialist in the sector is in the best interests of its shareholders and employees."

For further information please contact:

Notes to Editors:

Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide. Headquartered in Malvern, UK, Tricorn employs around 400 employees. Following the sale of RMDG Aerospace it will have two divisions focused on the Energy and Transportation sectors and will operate through three brands: Malvern Tubular Components; Maxpower and Franklin Tubular Products.