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
News & Publications
Appointment of Chairman
News & Publications - Press Releases
Published: Wednesday, 28 April 2010
28th April 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, is pleased to announce the appointment of Richard Linnell as Chairman of the Board of Directors, replacing Stephen Hargrave who stepped down at the conclusion of the AGM.
Richard is a South African national. A geologist by training, he has over 35 years' experience in the resource industry in Africa, principally with companies now forming part of BHP Billiton. His last two executive roles were Regional Director of African Exploration and Development with Billiton and General Manager of Manganese at Samancor. After retiring from full time employment with the BHP Billiton Group, he served as a non-executive Director of Billiton (SA) Ltd., until 2003. He is non-executive chairman of Coal of Africa Ltd and a director of a number of other companies.
Read more: Appointment of Chairman
Result of AGM and Change of Directorate
News & Publications - Press Releases
Published: Monday, 26 April 2010
26th April 2010
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that at the Company's AGM held today all resolutions were approved by shareholders.
As previously announced to shareholders, Stephen Hargrave stepped down from the Board at the conclusion of the AGM. The Directors thank him for the great help he has provided during his period as Chairman and wish him well in future endeavours.
The Company is finalising the appointment of his successor as Chairman and a further announcement will be made in due course.
Read more: Result of AGM and Change of Directorate
Annual Report and Accounts and Notice of AGM
News & Publications - Press Releases
Published: Thursday, 01 April 2010
1 April 2010
Notice is hereby given that an Annual General Meeting of the Company will be held at the Company's offices at 5th Floor, Prince Consort House, 27-29 Albert Embankment, London SE1 7TJ on 11.00 am (GMT) on Monday 26 April 2010. A number of resolutions will be put shareholders.
Copies of the Company's Annual Report and Accounts for the year ended 30 September 2009 ('Annual Report and Accounts'), Notice of AGM and Proxy Form have been posted to Shareholders.
Additional copies of the Annual Report and Accounts, Notice of AGM and Proxy Form may be requested directly from the Company. The report and accounts, Notice of AGM and Proxy Form are also available at the Company's website: www.ipsagroup.co.uk in accordance with Rule 26 of the AIM Rules for Companies.
Read more: Annual Report and Accounts and Notice of AGM
Audited Results for the year ended 30 September 2009
News & Publications - Press Releases
Published: Wednesday, 31 March 2010
31 March 2010
IPSA, the AIM and AltX dual listed independent power plant developer with operations in southern Africa, today announces its audited results for the year ended 30 September 2009.
Key points for period include:
- Group after tax loss of £5.5m (2008 loss £4.5m);
- Decision taken to sell all four gas turbines;
- Delay in obtaining PPA under Eskom MTPPP tender leads to suspension of steam sales.
Key points since the year end include:
- Conditional sale of one gas turbine to IPC, a company controlled by Peter Earl;
- Issue of £650,000 of loan notes due January 2011, plus warrants;
- Standstill agreement with major creditors Standard Bank and TurboCare to January 2011 and marketing agreement in respect of the turbines;
- Chairman to step down at AGM.
Read more: Audited Results for the year ended 30 September 2009
Issue of Loan Notes and Marketing Agreement
News & Publications - Press Releases
Published: Tuesday, 09 March 2010
9 March 2010
IPSA Group PLC
("IPSA" or "the Company")
Issue of Loan Notes and Agreement with Standard Bank and TurboCare
Highlights
- Loan Notes to provide £650,000 interim funding
- Tripartite agency agreement to advance sale of gas turbines
- New standstill arrangements with the Company's major creditors
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that on 5 March 2010 the Company entered into an agreement with RAB Energy Fund Limited and certain other investors (together the "Loan Note Holders") to issue £650,000 of unsecured loan notes (the "Loan Notes") to the Loan Note Holders.
On the same day, the Company also entered into an agreement with Standard Bank PLC ("Standard Bank") and TurboCare S.p.A. ("TurboCare") regarding the marketing of the Company's gas turbines, which also provides a standstill arrangement regarding funds due to both these parties.
Read more: Issue of Loan Notes and Marketing Agreement
Notifiable Interest
News & Publications - Press Releases
Published: Wednesday, 10 February 2010
10 February 2010
IPSA, the independent power developer, announces that it received notification on 9 February 2010 that on 8 February 2010 Credit Suisse Securities (Europe) Limited holds an interest in 7,345,776 ordinary shares of 2p each in the Company, representing 7.73% of the issued share capital of the Company.Read more: Notifiable Interest
Trading and Working Capital Update and Conditional Turbine Sale Agreement
News & Publications - Press Releases
Published: Wednesday, 23 December 2009
IPSA PLC (AIM:IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces an update as regards its current trading and working capital position, and a conditional related party agreement to sell one of its turbines.
Read more: Trading and Working Capital Update and Conditional Turbine Sale Agreement
Director's Shareholding
News & Publications - Press Releases
Published: Monday, 12 October 2009
Independent Power Corporation PLC ("IPC"), a company controlled by Peter Earl, Chief Executive Officer of IPSA Group PLC ("IPSA" or the "Company"), has today acquired 5,000,000 ordinary shares of 2 pence each in the Company from Mr Earl at a price of 25 pence per share. Following the purchase Mr. Earl's interest in IPSA remains 13,135,000 (13.83 per cent. of the issued share capital) in aggregate and is now held as follows:
8,125,000 by IPC and 5,010,000 by his wife, Mrs Emma Earl.
Read more: Director's Shareholding
IPSA clean coal project launch with power plant site agreement and start of environmental approval process
News & Publications - Press Releases
Published: Friday, 09 October 2009
IPSA Group PLC today announces that it has taken back ownership of 100 per cent. of Elitheni Clean Coal Holdings Limited ("ECCH") and has entered into an option agreement for the purchase of a site on which it intends to construct the first phase of its mine mouth power project in South Africa's Eastern Cape province.
Read more: IPSA clean coal project launch with power plant site agreement and start of environmental approval process
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