13th Jul 2006 07:01
IPSA Group PLC13 July 2006 IPSA Group PLC Application for South African listing IPSA Group PLC ("IPSA") today announces that it is making a formalapplication for its shares to be admitted to trading on the ALTx market ofthe JSE Limited ("the JSE"), the Johannesburg Stock Exchange. IPSA hasalready received preliminary confirmation from theALTx Advisory Committee that it may apply to the JSE for a listing. ALTx is the junior market of the JSE. In recent months the JSE has beenencouraging companies listed on the London Stock Exchange and itsjunior market, AIM, to seek secondary quotations on the JSE or ALTx.IPSA shares were admitted to AIM in September 2005. A successfulapplication would make IPSA the first AIM company to have its sharestraded on ALTx. In view of the complexity of adapting the ALTx Rules governing SouthAfrican companies so that these Rules can apply to UK companies alreadyquoted on AIM, the JSE is currently reviewing any changes necessary toits norms to accommodate UK applicants. Subject to the JSE's finalapproval of any changes in the ALTx Rules and norms that may benecessary, IPSA shares are expected to commence trading on ALTx in thefirst week of October 2006. IPSA is being advised in South Africa by Standard Bank Corporate Financewho will act as sponsor on ALTx (rather than as a Designated Adviser asnormally required by the JSE), and by Hichens, Harrison & Co. plc who willact as broker to the South African institutional placing coincident with thesecondary quotation on ALTx. This placing will be subject to the successfulapplication by IPSA for its shares to be admitted to ALTx. IPSA is an English power development and power plant operatingcompany that is currently constructing South Africa's first gas fired powerplant. It currently has over 1,200 MW of new thermal power projectsunder development in Southern Africa. For further information contact: Peter Earl, Chief Executive 0207 793 7676Stephen Hargrave, Chairman 0207 793 7676Mark Froggatt, Noble & Co Ltd 0207 763 2200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IPSA.L