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Update on Sale of Turbines
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")
Update on Sale of Turbines
IPSA Group PLC (AIM:IPSA), the developer, owner and operator
of power generation capacity in southern Africa, announces
that, further to the announcement of 19 November 2012 relating
to the sale of its remaining two W701 DU gas turbines to Iris
Eco Power Sdn Bhd (the “Buyer”), the Buyer is seeking an
extension of the turbine sale agreement to 15 January 2013.
The Company is considering this, and advises shareholders that
any such extension will be subject to the approval of Standard
Bank and Turbo Care, with the current position being that the
closing of the transaction should be completed as soon as
possible in any case.
London
18 December 2012
For further information contact:
Phil Metcalf, CEO, +44 (0)20 7793 5615
IPSA Group PLC
John Llewellyn-Lloyd / Harry +44 (0)20 7456 9191
Stockdale,
Execution Noble & Company Ltd
Harry Ansell / James Joyce +44 (0)20 7220 1666
W H Ireland Ltd
Riaan van Heerden, +27 (0)21 887 9602
PSG Capital (Pty) Ltd
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