2nd Mar 2015 09:20
IPSA Group PLC
("IPSA" or the "Company")
Update re settlement of funds owed by Rurelec PLC
IPSA notes the announcement made this morning by Rurelec PLC regarding the sale of its stake in the Canchayllo hydroelectric plant in Peru. The Company expects to receive payment from Rurelec of the £3.2 million deferred consideration still owed to IPSA from the sale of the Westinghouse Siemens gas turbines, shortly after Rurelec receives payment of the $6.5 million consideration for the Canchayllo hydroelectric plant.
A further announcement will be made in due course.
For further information contact:
Peter R.S. Earl, Acting CEO IPSA Group PLC |
+44 (0)20 7793 5615
|
James Joyce / James Bavister W H Ireland Ltd |
+44 (0)20 7220 1666 |
Riaan van Heerden, PSG Capital (Pty) Ltd |
+27 (0)21 887 9602 |
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