IPSA Group PLC Sale of Blazeway Engineering Limited (5411Q)
February 29 2016 - 1:32PM
UK Regulatory
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
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