IPSA GROUP PLC - Settlement with Ethos Energy Italia S.p.A. (formerly Turbocare S.p.A.)
IPS 201411240009A
Settlement with Ethos Energy Italia S.p.A. (formerly Turbocare S.p.A.)
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code IPSA ISIN GB00BOCJ3F01
JSE Share Code IPS ISIN GB00BOCJ3F01
("IPSA" or "the Company")
Settlement with Ethos Energy Italia S.p.A. (formerly
Turbocare S.p.A.)
IPSA announces that the sum of 3 million euros due to be
paid by 21st November 2014 to Ethos Energy Italia S.p.A.
under the Settlement Agreement announced on 29th October
2014 remains outstanding but the Company is working toward
a solution involving bridge funding of the deferred
consideration due to the Company on the sale of turbines
in 2013.
Further announcements will be made in due course.
For further information contact:
Peter R.S. Earl, Acting CEO +44 (0)20 7793 5615
IPSA Group PLC
James Joyce / James Bavister +44 (0)20 7220 1666
W H Ireland Ltd
Riaan van Heerden +27 (0)21 887 9602
PSG Capital (Pty) Ltd
London
24 November 2014
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