18th Dec 2012 09:06
18 December 2012
IPSA Group PLC
("IPSA" or "the Company")
Update on Sale of Turbines
IPSA Group PLC (AIM:IPSA), the developer, owner and operator of power generation capacity in southern Africa, announces that, further to the announcement of 19 November 2012 relating to the sale of its remaining two W701 DU gas turbines to Iris Eco Power Sdn Bhd (the "Buyer"), the Buyer is seeking an extension of the turbine sale agreement to 15 January 2013.
The Company is considering this, and advises shareholders that any such extension will be subject to the approval of Standard Bank and Turbo Care, with the current position being that the closing of the transaction should be completed as soon as possible in any case.
For further information contact:
Phil Metcalf, CEO, IPSA Group PLC |
+44 (0)20 7793 5615
|
John Llewellyn-Lloyd / Harry Stockdale, Execution Noble & Company Ltd |
+44 (0)20 7456 9191
|
Harry Ansell / James Joyce W H Ireland Ltd |
+44 (0)20 7220 1666 |
Riaan van Heerden, PSG Capital (Pty) Ltd |
+27 (0)21 887 9602 |
Related Shares:
IPSA.L