7th Sep 2006 07:01
IPSA Group PLC07 September 2006 IPSA proceeding with secondary listing on Johannesburg's Alternative Exchange, AltX The directors of independent power plant developers IPSA Group PLC ("IPSA")today announce that they are proceeding with the application for a proposedsecondary listing of IPSA's shares on the AltX market of the JSE in SouthAfrica. IPSA, whose operations are based in southern Africa, is already quoted on AIM atthe London Stock Exchange. According to Noah Greenhill, JSE Marketing and Business Development, GeneralManager, "Not only will this be the first secondary listing on AltX, but it willalso be the first AIM traded company to obtain a secondary listing in SouthAfrica on AltX." IPSA is now able to submit its draft pre-listing statement to the JSE for formalconsideration having previously been accepted by the AltX Advisory Committee asa company suitable for listing on AltX. Following a series of institutional presentations in Johannesburg and Cape Town,the Board of IPSA now considers that there will be significant investor demandin South Africa for IPSA shares and has therefore decided to proceed with thesecondary listing on AltX. IPSA's business is developing independent power generation projects in southernAfrica. IPSA is well positioned to ease South Africa's deepening energy crisis,and is currently in negotiations on two projects in Durban and Swaziland, aswell as pursuing the development of an 800 MW combined cycle gas turbine plantat Port Elizabeth and a 400 MW clean coal power plant next to the Elitheni coalproject near East London. It is close to completing its first project, an 18MWcombined heat and power plant at Newcastle, KwaZulu Natal. For further information contact: Peter Earl, CEO, IPSA Group Plc 020 7793 7676 Liz Shaw, COO, IPSA Group Plc 020 7793 7676 Mark Froggatt, Noble & Company Limited 020 7763 2200 Allan Piper, First City Financial 07736 064982 020 7436 7486 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IPSA.L