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NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM

IPSA GROUP PLC

Trading on AIM for the under-mentioned securities has been cancelled from 16/09/2016 7:00am, pursuant to AIM Rule 41.

ORDINARY SHARES OF 2P EACH, FULLY PAID

(B0CJ3F0) (GB00B0CJ3F01)

If you have any queries or require further information, please contact the company's nominated adviser on 020 7220 1666.

 

Cancellation of Admission to AIM

16 September 2016

 

Further to the announcement on 29 February 2016 of the sale of its sole trading subsidiary, the Company has not concluded an acquisition or acquisition constituting a reverse takeover. Furthermore, the period for the Company to clarify its financial position has now expired and consequently the Company's shares will be de-listed from trading on AIM. The Company continues to seek a sale of its balance of plant in store in Italy. IPSA may wish to seek to return to the market at a future date when the balance of plant has occurred and creditors have been paid and a corporate acquisition has been concluded.

In the meantime, the Directors are exploring ways to realise value for shareholders by way of a corporate transaction with another UK entity.

For further information contact:

Peter Earl,  CEO

IPSA Group PLC

+44 (0) 207 793 5600

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

Unaudited Results for the 12 month period ended 31 March 2016

30 June 2016

IPSA, the AIM and Altx dual listed independent power plant developer, today announces its unaudited interim results for the 12 month period ended 31 March 2016. This further unannounced interim period is provided following the change to the accounting reference date to 30 September as announced on 1 April 2016.

 

Highlights:

  • Revenue of £2.5m (2015 - £3.6m).
  • Group loss after tax of £0.56m (2015 - £6.93m loss).
  • Sale of Newcastle Cogeneration Pty Limited.

 

Commenting, Susan Laker, Chairman of IPSA, said:

"These are the last interims for IPSA Group PLC which include the operations of Newcastle Cogeneration (Pty) Limited (“NewCogen”) which were sold in February 2016.  The Company is now focusing its attentions on the sale of the balance of plant equipment held for sale in Italy and in finding a suitable reverse merger partner to maintain the quotations in London and Johannesburg.”

 

For further information contact:

 

Peter Earl, Director, IPSA Group PLC   +44 (0)20 7793 7676

James Joyce, James Bavister WH Ireland Ltd (Nominated Adviser and Broker) +44 (0)20 7220 1666

Riaan van Heerden, PSG Capital (Pty.) Limited, (South African Sponsors)   +27 11 797 8400

Or visit IPSA's website: www.ipsagroup.co.uk

 

Download full RNS

Change of Registered Office 2

17 June 2016

IPSA announces that the Company has changed its registered office and business address to: 17th Floor Millbank Tower, 21-24 Millbank, London SW1P 4QP.

 

For further information contact:

 

Peter Earl,  CEO

IPSA Group PLC

+44 (0) 207 793 5600

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

 

Result of AGM and directorate change

7 April 2016

IPSA is pleased to announce that the Company's AGM held today all resolutions were duly passed. Richard Linnell and Neil Bryson did not stand for re-election as Directors and subsequently will be leaving the Board with immediate effect. Following the AGM, Mark Otto tendered his resignation and has resigned from the Board with immediate effect.

The Company is pleased to announce the appointment of Susan Angela Laker as a Chairman Director with immediate effect.
Following the recent directorate changes the board currently comprises the following Directors:

  • Peter Earl, Chief Executive Officer
  • Susan Laker, Chairman and Company Secretary 

Peter Earl, Acting CEO, commented:
"I would like to thank Richard, Mark and Neil for all their efforts and wish them every success in the future. I would also like to welcome Susan to the Board, I'm certain she will prove a valuable addition to the Board."

Read more: Result of AGM and directorate change

Change of Accounting Reference Date

1 April 2016

The Company today announces a change to its accounting reference date and financial year end from 31 March to 30 September. Interim results for the 6 month period ended 31 March will be released by 30 June 2016 and results for the 18 month period to 30 September 2016 will be released by 31 March 2017, following which the Company will revert to a normal biannual reporting calendar based on a 30 September financial year-end.

 

Read more: Change of Accounting Reference Date

Statement Regarding Suspension

30 March 2016

 

Further to the announcements by the Company of 15 March 2016 and 29 March 2016 and notwithstanding that the Company has now published its final and interim results in accordance with AIM Rules 18 and 19, the Company has requested a suspension in trading of the Company's shares pending clarification of the Company's financial position.

As detailed in the previous announcements of 15 March and 29 March 2016, the Company's financial position remains difficult and uncertain. The Company is reliant upon the forbearance of its creditors and notably EthosEnergy Italia SpA ('Ethos'), whilst it seeks to realise proceeds from the sale of assets held for resale, being ancillary plant held by the Company together with the receipt of funds due from Rurelec PLC in relation to deferred consideration.

Read more: Statement Regarding Suspension

Unaudited Results for the 6 month period ended 30 September 2015

29 March 2016

IPSA, the AIM and Altx dual listed independent power plant developer, today announces its unaudited interim results for the 6 month period ended 30 September 2015.

Highlights:

  • Revenue of £1.8m (2014 - £1.9m).
  • Group loss after tax of £0.26m (2014 - £0.75m loss).
  • Post balance sheet sale of Newcastle Cogeneration Pty Limited.
  • The Company is now an AIM Rule 15 Cash Shell

Commenting, Richard Linnell, Chairman of IPSA, said:

"These are the last interims for IPSA Group PLC which include the operations of Newcastle Cogeneration (Pty) Limited ("NewCogen") which were sold in February 2016.  The Company is now focusing its attentions on the sale of the balance of plant equipment held for sale in Italy in order to seek to settle outstanding creditors and in finding a suitable reverse merger partner to maintain the quotations in London and Johannesburg."

 

Read more: Unaudited Results for the 6 month period ended 30 September 2015

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