Tel: +44 (0)20 7793 5615, Fax: +44 (0)20 7793 7654, email: info@ipsagroup.co.uk
IPSA Group PLC, Registered in England No: 5496202
Registered Office: as above
IPSA Group PLC is an expanding independent power producer with operations in
South Africa
Latest News and Press Releases
Notifiable Interest
News & Publications
News & Publications Published: Friday, 03 September 2010
3 September 2010
IPSA, the independent power plant developer, announces that it received notification today that Stephen Hargrave, a former chairman of the Company, sold 1,000,000 ordinary shares of 2p each in the Company ("Ordinary Shares") today. Following this transaction, he retains 4,370,370 Ordinary Shares, representing 4.6% of the issued share capital of the Company.
Trading Statement - PPA Signed
News & Publications
News & Publications Published: Tuesday, 31 August 2010
31 August 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that its wholly-owned subsidiary, Newcastle Cogeneration (Pty.) Limited has entered into a power purchase agreement ("PPA") with Eskom, the South African electricity parastatal, under the medium term power purchase programme ("MTPPP"). Under the new PPA all electricity output from the plant would be sold to Eskom for the period to 31 March 2015, and is based on 13 MW of capacity.
NewCogen, which owns and operates South Africa's first gas-fired independent power plant, has consistently supplied power to the grid since the plant re-started in June this year under a short-term PPA with Eskom which expires today.
Start Up of Newcastle Power Plant
News & Publications
News & Publications Published: Thursday, 24 June 2010
24 June 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that, on 23 June 2010, its NewCogen subsidiary re-started production of electricity under an short term contract with Eskom is due to end on 30th June.
In the meantime NewCogen and Eskom are awaiting formal notification from NERSA, the electricity regulator, that a six year MTPPP power purchase agreement has finally been approved. A further announcement will be made on the MTPPP contract as soon as news is available.
Name Change Announcement
News & Publications
News & Publications Published: Tuesday, 22 June 2010
22 June 2010
The Company announces that Religare Hichens, Harrison plc, the Company's Broker has changed its name to Religare Capital Markets plc.
Substantial Shareholding
News & Publications
News & Publications Published: Tuesday, 22 June 2010
22 June 2010
IPSA Group PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that, on 17 June 2010, Sterling Trust Limited ("Sterling Trust") acquired 5,010,000 ordinary shares of the Company ("Ordinary Shares") in an off-market transaction at 12p per Ordinary Share, equating to 5.27% of the issued share capital.
Taken together with its acquisition of 6,125,000 Ordinary Shares announced on 17 June 2010, Sterling Trust now owns 11,135,000 Ordinary Shares, equating to 11.72% of the issued share capital of the Company.
Director's Dealings
News & Publications
News & Publications Published: Friday, 18 June 2010
18 June 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that on 17 June 2010 Emma Earl sold 5,010,000 ordinary shares (5.27%) of the Company at 12p per ordinary share.
As a result, neither she nor Peter Earl, IPSA's CEO, hold any shares in the Company.
Director Resignation
News & Publications
News & Publications Published: Friday, 18 June 2010
18 June 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces the resignation of Jimmy West, non-executive, with immediate effect.
The Board of Directors thanks Jimmy for his contribution to the Company since Admission.
Trading update and Director's Deal
News & Publications
News & Publications Published: Thursday, 17 June 2010
17 June 2010
IPSA Group PLC
("IPSA" or "the Company")
Trading update and Sale of shares by IPC
Newcastle generation plant
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that it has arranged short term loan facility of £300,000 to allow its generation plant in Newcastle, South Africa, to restart operations in order to supply electricity during the remainder of the month of June under a short term power purchase agreement with Eskom Holdings Limited ("Eskom"). Subject to obtaining the necessary approvals for the loan, the plant is expected to generate electricity for 9 days.
The £300,000 loan facility was entered into with Sterling Trust Limited, a private investment company based in the United Kingdom ("Sterling Trust"), on 16 June 2010, at a fixed annualised rate of 12 per cent. and is repayable within 90 days of drawdown. Sterling Trust will be repaid the capital and interest out of the revenues received at the Newcastle plant. Sterling Trust will also receive warrants to subscribe for 300,000 new ordinary shares in IPSA ("Ordinary Shares") at a price of 15 pence per share, exercisable within 24 months.
As announced in the Company's recent interim results, IPSA is in negotiations with potential South African lenders for a refinancing of up to US $20 million of its own inter-company funding of the Newcastle plant.
Sale of shares by IPC
In conjunction with the Newcastle loan, on 14 June 2010, Sterling Trust acquired 6,125,000 Ordinary Shares at 12p per share (6.45% of the Company) from the Independent Power Corporation PLC, a company controlled by Peter Earl, the Company's CEO. In addition, IPC placed a further 2,000,000 Ordinary Shares off-market at 12p per share with the adult children of Peter Earl, leaving IPC with no further shareholding in the Company. However, IPC continues to lend to IPSA and, in addition, has conditionally acquired one of IPSA's four gas turbines subject to obtaining necessary project approvals and financing, as previously announced.
Following this sale of shares by IPC, Peter Earl's remaining interest in the Company is held indirectly through 5,010,000 Ordinary Shares (5.27% of the Company) which are held by his wife, Emma Earl.