IPSA GROUP PLC - Settlement of Sasol Claim

Settlement of Sasol Claim

IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code IPSA   ISIN GB00BOCJ3F01
JSE Share Code IPS    ISIN GB00BOCJ3F01
("IPSA" or "the company")

Settlement of Sasol Claim

IPSA Group PLC (AIM:IPSA), the developer, owner and operator
of power generation capacity in Southern Africa, announces
that it has received confirmation of the withdrawal of the
claim by Sasol Gas Limited against Newcastle Co-generation
(Pty) Limited (“NewCogen”), the Company’s wholly owned
subsidiary, for sums claimed under the gas supply agreement
terminated in August 2009 (the “Claim”).

The Claim has now been withdrawn from the South Gauteng High
Court following payment by NewCogen of the sum of ZAR
7 million (approximately GBP550,000). The settlement allows a
provision of approximately GBP4m in IPSA’s group accounts to
be reversed, reducing trade creditors of NewCogen by a similar
amount.

NewCogen made this payment having drawn down the loan offered
by Sterling Trust Limited, the terms of which were announced
on 27 July 2012.

Commenting, Richard Linnell, Chairman of IPSA, said: “I am
delighted that this dispute has been settled as it removes one
more uncertainty. We can look forward to continuing and
improving on operations at our power plant in Kwa Zulu Natal.”

London
10 August 2012

For further information contact:

Phil Metcalf, CEO,                    +44 (0)20 7793 5600
IPSA Group PLC
John   Llewellyn-Lloyd   /    Harry   +44 (0)20 7456 9191
Stockdale,
Execution Noble & Company Ltd
Riaan van Heerden,                    +27 (0)21 887 9602
PSG Capital (Pty) Ltd
Harry Ansell / James Joyce            +44 (0)20 7220 1666
W H Ireland Ltd

Date: 10/08/2012 01:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.