Rurelec PLC Separation of subsidiary from Rurelec PLC (6262Q)

TIDMRUR

RNS Number : 6262Q

Rurelec PLC

19 June 2015

Rurelec PLC

("Rurelec" or "the Company")

Separation of subsidiary from Rurelec PLC

The Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, announce the separation of the two main parts of the business of Rurelec being the owning and operating of power plants and the development work that is currently undertaken by its wholly owned subsidiary, Independent Power Corporation PLC (IPC) which is being sold to Peter Earl for a nominal sum after all the assets and liabilities of IPC have been repositioned into Rurelec. Mr Earl having resigned today from the Board of Rurelec will take IPC and in excess of GBP500,000 worth of overheads out of the Rurelec Group. This has the positive effect of ensuring that Rurelec can concentrate on developing its relationships with other developers and operators of power plants whilst also reducing overhead costs.

For further information please contact:

 
 Rurelec PLC      W H Ireland           CNC Communications 
 Andrew Morris,   Paul Shackleton and   Ana Ribeiro 
  Director         James Bavister        Director 
 Tel: 020 7793    Tel: 020 7220 1666    Tel: 020 3219 
  5600                                   8818

This information is provided by RNS

The company news service from the London Stock Exchange

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