| Thu 4 Dec 2008, 9:00 | | IPS - IPSA Group Plc - Update Regarding Possible Disposal of Gas Turbines |
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IPS
IPSA
IPS - IPSA Group Plc - Update Regarding Possible Disposal of Gas Turbines
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code IPSA & ISIN GB00B0CJ3F01
JSE Share Code IPS & ISIN GB00B0CJ3F01
("IPSA" or "the company")
Update regarding possible disposal of gas turbines
As stated in the announcement made on 24th October 2008, IPSA Group PLC is
providing shareholders with an update on progress since that date. IPSA
continues to be in advanced discussions with selected parties outside South
Africa for the sale of the four Fiat Avio 501 D gas turbines previously intended
for its Coega project near Port Elizabeth, South Africa. However, the Company
wishes to emphasise that any such sale may or may not proceed to completion and
that the current financial climate may impact on the timetable to completion.
Shareholders will be updated on progress.
For further information contact:
Peter Earl, CEO, IPSA Group PLC: +44 (0)20 7793 5615
Elizabeth Shaw, COO, IPSA Group PLC: +44 (0)20 7793 5615
Sunil Sanikop / Jarod Casey, Noble & Company Ltd: +44 (0)20 7763 2200
(Nominated Adviser and Joint Broker)
Sean Lunn, Hichens, Harrison (South Africa) Ltd: +27 (21) 950 2711
(Joint Broker)
Allan Piper, Tavistock Communications: +44 (0)20 7920 3150
(UK PR Advisers)
Dino Theodorou / Melissa Harris, PSG Capital
(Pty.) Limited: +27 11 797 8400
(South African Sponsors)
Jacques de Bie, College Hill: +27 11 447 3030
(South African PR Advisers)
Or visit IPSA`s website: www.ipsagroup.co.uk
Date: 04/12/2008 09:00:01 Produced by the JSE SENS Department.
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