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IPSA GROUP PLC - Sale Of Blazeway Engineering Limited

Release Date: 01/03/2016 07:45
Code(s): IPS     PDF:  
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Sale Of Blazeway Engineering Limited

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")

                       Sale of Blazeway Engineering Limited

Further to the RNS dated 28 January 2016, IPSA (AIM:IPSA), the developer, owner and
operator of power generation capacity in South Africa, announces the completion of the
sale of Blazeway Engineering Limited (“Blazeway”) to Sloane Corporation Limited (“SCL”)
following satisfaction of the conditions precedent in the sale and purchase agreement.

The transaction constitutes a fundamental disposal under the AIM Rules and consequently
IPSA is now regarded as an AIM Rule 15 cash shell, and is required to make an acquisition
or acquisitions constituting a reverse takeover under the AIM Rules within the next 6
months.

                           For further information contact:

Mark Otto, Acting CEO                            +27 (84) 219 2000
IPSA Group PLC

James Joyce / James Bavister                     +44 (0) 20 7220 1666
W H Ireland Ltd

Riaan van Heerden,                               +27 (0) 21 887 9602
PSG Capital (Pty) Ltd.

1 March 2016

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