| Wed 25 Oct 2006, 14:45 | | IPSA - Strategic Investment: Placing Of 6 |
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IPS
IPSA
IPSA - Strategic Investment: Placing Of 6,000,000 New Shares For Cash
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration number 5496202)
AIM Share Code: IPSA
AIM ISIN: GB00B0CJ3F01
JSE Share Code: IPS
JSE ISIN: GB00B0CJ3F01
IPSA Group PLC ("IPSA" or "the Company")
STRATEGIC INVESTMENT: PLACING OF 6,000,000 NEW SHARES FOR CASH
IPSA, the AIM and ALTX dual listed independent power plant developer with
operations in southern Africa, announces that on 24 October 2006 STANLIB Asset
Management Limited ("Stanlib") agreed to subscribe for 6,000,000 new ordinary
shares of 2 pence each in a placing for cash ("the Placing") at a placing price
of 6.05 Rand (approximately 42 pence) per ordinary share in IPSA. Following the
Placing Stanlib will be interested in 9.07 per cent. of the enlarged issued
share capital of the Company.
Following the Placing, IPSA will have 66,129,469 fully paid shares in issue
trading on both AIM and ALTX. The proceeds of the Placing will be used for the
Group"s working capital requirements as it develops new power generation
capacity in southern Africa.
The new ordinary shares will rank pari passu in all respects with existing
ordinary shares. Application has been made to admit the new ordinary shares for
trading on AIM. Simultaneously, application has been made to ALTX to admit the
shares to listing. Admission of these new shares to trading on both markets is
expected to be effective on 2 November 2006.
Speaking today, Peter Earl, CEO of IPSA, said, "I am delighted that Stanlib has
made an investment in IPSA and has added its name to our list of blue chip South
African shareholders. Our flotation on ALTX was intended to bring South
Africa"s top institutions onto our share register as we invest in new power
plants to meet South Africa"s growing need for electricity. I welcome the
addition of Stanlib to that list."
25 October 2006
For further information contact:
Peter Earl, CEO, IPSA Group Plc 020 7793 7676
Liz Shaw, COO, IPSA Group Plc 020 7793 7676
Mark Froggatt, Noble & Company Limited 020 7763 2200
Sean Lunn, Hichens, Harrison & Company Plc 020 7382 7790
Allan Piper, First City Financial 07736 064982
020 7436 7486
Date: 25/10/2006 02:45:12 PM Produced by the JSE SENS Department
