1st Apr 2008 15:30
IPSA Group PLC01 April 2008 1 April 2008 IPSA Group PLC ("IPSA" or the "Company") Standard Bank loan IPSA, the independent power plant developer with operations in southern Africa,announces that on 31 March 2008 it signed a £15.5 million loan facilityagreement with the Standard Bank PLC. Approximately £12.7 million of this loan facility has been used to pay thebalance of funds due to TurboCare SpA, a subsidiary of Siemens Power Generation,in satisfaction of the acquisition price of €31.2 million for four Fiat Avio 501D gas turbines for the Coega Project, originally announced on 9th March 2007.The remaining balance of this loan facility will be used for working capitalpurposes. For further information contact: Peter Earl, CEO, IPSA Group PLC +44 (0) 20 7793 5600 Elizabeth Shaw, COO, IPSA Group PLC +44 (0) 20 7793 5600 Nick Naylor / Jamie Boyd, Noble & Company Limited +44 (0) 20 7763 2200 (Nominated Adviser and Joint Broker) Sean Lunn, Hichens, Harrison (South Africa) Ltd +2721 950 2711(Joint Broker) Allan Piper, First City Financial +44 (0) 20 7242 2666(UK Public Relations Advisers) Jacques de Bie, College Hill (South Africa) +2711 447 3030(South African Public Relations Advisers) Dino Theodorou / Melissa Harris, PSG Capital +2711 797 8438(Sponsor in South Africa) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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