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IPSA proceeding with secondary listing on Johannesburg's Alternative Exchange, AltX

The directors of independent power plant developers IPSA Group PLC ("IPSA") today announce that they are proceeding with the application for a proposed secondary listing of IPSA's shares on the AltX market of the JSE in South Africa

IPSA, whose operations are based in southern Africa , is already quoted on AIM at the London Stock Exchange.

According to Noah Greenhill, JSE Marketing and Business Development, General Manager, "Not only will this be the first secondary listing on AltX, but it will also be the first AIM traded company to obtain a secondary listing in South Africa on AltX."

IPSA is now able to submit its draft pre-listing statement to the JSE for formal consideration having previously been accepted by the AltX Advisory Committee as a company suitable for listing on AltX.

Following a series of institutional presentations in Johannesburg and Cape Town, the Board of IPSA now considers that there will be significant investor demand in South Africa for IPSA shares and has therefore decided to proceed with the secondary listing on AltX.

IPSA's business is developing independent power generation projects in southern Africa . IPSA is well positioned to ease South Africa's deepening energy crisis, and is currently in negotiations on two projects in Durban and Swaziland, as well as pursuing the development of an 800 MW combined cycle gas turbine plant at Port Elizabeth and a 400 MW clean coal power plant next to the Elitheni coal project near East London. It is close to completing its first project, an 18MW combined heat and power plant at Newcastle , KwaZulu Natal.

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