| Tue 1 Apr 2008, 16:30 | | IPS - Ipsa Group Plc - Standard Bank Loan |
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IPS
IPSA
IPS - Ipsa Group Plc - Standard Bank Loan
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code: IPSA ISIN: GBOOBOCJ3F01
JSE Share Code: IPS ISIN: GBOOBOCJ3F01
("IPSA" or "the company")
Standard Bank Loan
IPSA, the independent power plant developer with operations in southern Africa,
announces that on 31 March 2008 it signed a GBP15.5 million loan facility
agreement with the Standard Bank PLC.
Approximately GBP12.7 million of this loan facility has been used to pay the
balance of funds due to TurboCare SpA, a subsidiary of Siemens Power Generation,
in satisfaction of the acquisition price of Euro31.2 million for four Fiat
Avio 501 D gas turbines (the "Turbines") for the Coega Project, originally
announced on 9 March 2007. The remaining balance of this loan facility will be
used for working capital purposes.
For further information contact:
Peter Earl, CEO, IPSA Group PLC +44 (0) 20 7793 5600
Elizabeth Shaw, COO, IPSA Group PLC +44 (0) 20 7793 5600
Nick Naylor / Jamie Boyd, Noble & Company Limited +44 (0) 20 7763 2200
(Nominated Adviser and Joint Broker)
Sean Lunn, Hichens, Harrison (South Africa) Ltd +2721 950 2711
(Joint Broker)
Allan Piper, First City Financial +44 (0) 20 7242 2666
(UK Public Relations Advisers)
Jacques de Bie, College Hill (South Africa) +2711 447 3030
(South African Public Relations Advisers)
Dino Theodorou / Melissa Harris, PSG Capital (Pty) Ltd +2711 797 8438
(Sponsor in South Africa)
London
1 April 2008
Date: 01/04/2008 16:30:01 Produced by the JSE SENS Department.
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