IPSA Group PLC IPSA Sale of Turbines

  IPSA Group PLC (IPSA) - Sale of Turbines

RNS Number : 4132R
IPSA Group PLC
19 November 2012


19 November 2012



                                IPSA Group PLC

                                      

                                      

                               Sale of Turbines

                                      



IPSA Group  PLC  (AIM:IPSA),  the  developer,  owner  and  operator  of  power 
generation capacity in southern  Africa, announces that  it has now  exchanged 
contracts for the sale  of its two remaining  Siemens Westinghouse 701 DU  gas 
turbines to Iris Eco Power Sdn Bhd, a Malaysian power development company, for
a consideration of US$31 million, as first announced on 15 October 2012.



Under the turbine sale agreement, completion is expected to occur on or before
30 November 2012.  A further announcement  will be made  once the  completion 
payment is received.







                       For further information contact:

                                      

                                      

Phil Metcalf, CEO                      +44 (0)20 7793 5615

IPSA Group PLC                         
                                      

John Llewellyn-Lloyd / Harry Stockdale +44 (0)20 7456 9191

Execution Noble & Company Ltd          
                                      

Harry Ansell / James Joyce             +44 (0)20 7220 1666

W H Ireland Ltd
                                      

Riaan van Heerden,                     +27 (0)21 887 9602

PSG Capital (Pty) Ltd



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCBLBFTMBIBMFT -0- Nov/19/2012 07:00 GMT
 
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