IPSA Ipsa Grp

TIDMIPSA

RNS Number : 5411Q

IPSA Group PLC

29 February 2016

29 February 2016

IPSA Group PLC

("IPSA" or the "Company")

Sale of Blazeway Engineering Limited

Further to the RNS dated 28 January 2016, IPSA (AIM:IPSA), the developer, owner and operator of power generation capacity in South Africa, announces the completion of the sale of Blazeway Engineering Limited ("Blazeway") to Sloane Corporation Limited ("SCL") following satisfaction of the conditions precedent in the sale and purchase agreement.

The transaction constitutes a fundamental disposal under the AIM Rules and consequently IPSA is now regarded as an AIM Rule 15 cash shell, and is required to make an acquisition or acquisitions constituting a reverse takeover under the AIM Rules within the next 6 months.

For further information contact:

 
 Mark Otto, Acting CEO 
  IPSA Group PLC                  +27 (84) 219 2000 
  James Joyce / James Bavister 
   W H Ireland Ltd                  +44 (0) 20 7220 1666 
 
   Riaan van Heerden, 
   PSG Capital (Pty) Ltd.           +27 (0) 21 887 9602 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 29, 2016 13:32 ET (18:32 GMT)

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