IPSA GROUP PLC - Board changes

Board changes

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")

BOARD CHANGES

IPSA PLC (AIM: IPSA), the developer, owner and operator of
power generation capacity in Southern Africa, announces a
number of changes to its board of directors following the
recent sale of its last two Siemens Westinghouse 701 gas
turbines.

Although the Company’s cashflow remains tight pending receipt
of the final payment of USD6.5m from the turbine sale, the
Company is now actively considering new power plant capacity
at Newcastle and elsewhere in South Africa as a direct
response to recent initiatives by South Africa’s Department of
Energy.

To meet this new challenge, the Company intends to build up an
executive team in South Africa.  With that in mind, the
Company announces the resignations of Mike Eyre (executive
director responsible for engineering) and Michael Cox (finance
director) who are both stepping down from the Board with
immediate effect.  In addition, Rizelle Sampson, a non-
executive director, has also stepped down with immediate
effect to focus on her other business activities.

Richard Linnell, Phil Metcalf, Neil Bryson and Peter Earl will
continue in their present roles.  Elizabeth Shaw will step
down as chief operating officer and resume her original role
of finance director.

Speaking today, Richard Linnell, Chairman of IPSA said, “I am
hugely grateful to Rizelle, Mike and Michael for their
contributions to the business, especially in recent years.
The board reorganisation allows us to cut costs in the short
term and provides a base upon which to build a local executive
presence.”

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

London
3 July 2013

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