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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ipsa Grp | LSE:IPSA | London | Ordinary Share | GB00B0CJ3F01 | ORD 2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jun 2019 to Jun 2024
TIDMIPSA
RNS Number : 2534P
IPSA Group PLC
16 February 2016
IPSA Group PLC
("IPSA" or the "Company")
Result of General Meeting
Further to the announcement on 28 January 2016, IPSA announces that at the General Meeting of IPSA shareholders held today the resolution to approve the disposal of its 100 per cent. Interest in its subsidiary Blazeway Engineering Limited ("Blazeway") (the UK holding company which owns Newcastle Cogeneration Proprietary Limited ("NewCogen")) to Sloane Corporation Limited ("SCL") was duly passed.
The sale of Blazeway to SCL remains subject to a number of conditions precedent including approval being granted by the Industrial Development Corporation of South Africa ("IDC") under the terms of the loan agreement between NewCogen and IDC, as well as the approval of certain other of IPSA's creditors to the assumption by SCL of GBP1,866,000 of indebtedness of the Company.
A further announcement on the satisfaction of these conditions or otherwise will be made in due course. The transaction is subject to a longstop date of 29 February 2016.
If all other conditions precedent are met IPSA would be regarded as an AIM Rule 15 cash shell, and would be required to make an acquisition or acquisitions constituting a reverse takeover under the AIM Rules within 6 months.
For further information contact:
Mark Otto, Acting CEO IPSA Group PLC +27 (84) 219 2000 James Joyce / James Bavister +44 (0) 20 7220 W H Ireland Ltd 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
ROMEAKAKFSKKEFF
(END) Dow Jones Newswires
February 16, 2016 11:59 ET (16:59 GMT)
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