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IPSA Ipsa Grp

1.40
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.00 0.00% 1.40 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.40 GBX

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Date Time Title Posts
28/4/201706:52S. African Power Plants - Worth a look?706

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Posted at 28/4/2017 06:52 by arthurdaley69
wow...there's signs of life!

Friday 28 April, 2017
IPSA Group PLC

Offer for IPSA Group PLC

RNS Number : 6173D
IPSA Group PLC
28 April 2017

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

27 April 2017

Recommended Share Offer

by

Encor Power PLC ("Encor" or the "Offeror")

for

IPSA Group PLC ("IPSA" or the "Company")



The Independent Director of IPSA Group PLC and the Board of Encor announce that they have reached an agreement on the terms of a recommended offer to be made by Encor for the entire issued ordinary share capital of IPSA (the "Offer")

Summary of the Offer

· Under the terms of the Offer, IPSA Shareholders will be entitled to receive 0.62 New Encor Shares for each IPSA Share.

· The Offer values the entire issued share capital of the Company at approximately £2m on the basis of an implied value of £0.03 per New Encor Share.

· The Offer values each IPSA Share at c.£0.019 which represents a premium of approximately 33 per cent. to the closing price of £0.014 per IPSA Share as at the close of business on 15 September 2015, being the last date on which the IPSA Shares were traded on AIM prior to its suspension and subsequent delisting.

· The Independent Director of the Company, being Susan Laker, has considered the Offer and, given that Shareholders who do not accept the Offer may not see dividends or other returns of capital and may have no other effective opportunity to sell their Ordinary Shares following IPSA's delisting from AIM, is recommending Shareholders to accept the Offer.

· The Independent Director, who has been so advised by Optiva Securities Limited ("Optiva") on the financial terms of the Offer, considers the terms of the Offer to be fair and reasonable. In providing its advice to the Independent Director, Optiva has taken into account the commercial assessments of the Independent Director. Optiva is providing independent financial advice to the Independent Director for the purposes of Rule 3 of the Code.

· The Offer will be conditional upon, amongst other things, Encor receiving valid acceptances (which have not been withdrawn) in respect of and/or having otherwise acquired IPSA Shares which represent not less than 50.1 per cent. in nominal value of IPSA Shares to which the Offer relates and of the voting rights attached to those shares.

· Irrevocable undertakings to accept the Offer have been received by Encor from both IPSA Directors in respect of, in aggregate, 2,400,000 IPSA Shares, representing approximately 2.23 per cent. of the share capital of IPSA in issue on 26 April 2017 (being the last Business Day prior to the date of this Announcement). Each of the IPSA Directors' irrevocable undertakings are binding.

· In addition, Irrevocable undertakings to accept the Offer have been received by Encor from Sterling Trust Limited (in administration), WH Ireland Nominees Limited, Mr S Hargrave, Ms E Shaw and Technology Finance Limited in respect of 50,923,225 IPSA Shares in aggregate, representing approximately 47.37 per cent. of the share capital of IPSA in issue on 26 April 2017 (being the last Business Day prior to the date of this Announcement). Each of these irrevocable undertakings is binding.

· Accordingly, Encor has received irrevocable undertakings to accept the Offer over, in aggregate, 53,323,225 IPSA Shares, representing approximately 49.60 per cent. of the share capital of IPSA in issue on 26 April 2017 (being the last Business Day prior to the date of this Announcement).

Commenting on the Offer, Mr Edward Cowdery, Chief Executive of Encor Power, said: "We are delighted to be bringing together the long established expertise of IPSA with Encor Power's innovative approach to the delivery of grid services to the UK energy market."

Commenting on the Offer, Peter Earl, CEO of IPSA, said: "We believe that this offer provides IPSA shareholders with a rapid route to liquidity and value for their shares as part of a larger power development group with an exciting portfolio of projects in the United Kingdom, a less unpredictable market than that of South Africa where IPSA has suffered many setbacks over the last ten years. The offer permits Encor shareholders to benefit from IPSA's own international power development experience so that lessons learned through past developments overseas may benefit the enlarged group in the future."

The Offer will be subject to the Conditions and certain further terms of the Offer set out in Appendix I to this Announcement. Appendix II sets out the sources of information and bases of calculations used in this Announcement. Appendix III contains details of the irrevocable undertakings given to Encor. Appendix IV contains the definitions of certain terms used in this summary and in the full text of this Announcement.



The above summary should be read in conjunction with, and is subject to, the full text of this announcement and the Appendices.

The Offer Document will be posted as soon as practicable and in any event within 28 days from the date of this Announcement, unless otherwise agreed with the Panel, other than to certain Overseas IPSA Shareholders in a Restricted Jurisdiction in the circumstances permitted under the Code or in accordance with any dispensation given by the Panel. The full terms of and conditions to the Offer will be set out in the Offer Document and the Form of Acceptance. In deciding whether or not to accept the Offer, IPSA Shareholders should rely solely on the information contained in, and follow the procedures set out in, the Offer Document and Form of Acceptance.
Posted at 19/6/2015 06:18 by moreforus
19 June 2015
RURELEC PLC

("Rurelec" or "the Company")

Further re: Short Term Loan Facility

The Company announces that it has signed a bridging loan facility of US $12 million against the anticipated sales of the Peru hydro projects. The Company has also settled terms for a one year strategic loan from a large organisation within the South American power industry. When contracted, this will allow the Group to settle the deferred payment to IPSA Group PLC and repay other outstanding obligations. This facility is the first stage of an intended wider cooperation with the South American company, a power generation company operating in the same field as Rurelec in Central and Latin America.

The Group expects to repay all loans from the proceeds of the sale of its Peruvian hydro portfolio, but with contingency plans for repayment from other sources if the sales are delayed.

For further information please contact:
Posted at 03/3/2015 07:57 by moreforus
IPSA

3.2 mill gbp = 4.4 mill euro

debt is in euro

asset sale is in gbp
Posted at 03/3/2015 07:38 by giant steps
Yes vyke82, IPSA have debts to repay

3 million euros on or before 21 November 2014 and a further sum of 2.6 million euros in cash or equivalent value by 30 September 2015.


Reminder :
Posted at 02/3/2015 11:49 by moreforus
RUR is now up 40% and still being bought

IPSA out of steam and sellers at +15%
Posted at 02/3/2015 09:21 by moreforus
IPSA Group PLC Update re settlement of funds owed by Rurelec PLC
Print
Alert
TIDMIPSA

RNS Number : 2234G

IPSA Group PLC

02 March 2015

IPSA Group PLC

("IPSA" or the "Company")

Update re settlement of funds owed by Rurelec PLC

IPSA notes the announcement made this morning by Rurelec PLC regarding the sale of its stake in the Canchayllo hydroelectric plant in Peru. The Company expects to receive payment from Rurelec of the GBP3.2 million deferred consideration still owed to IPSA from the sale of the Westinghouse Siemens gas turbines, shortly after Rurelec receives payment of the $6.5 million consideration for the Canchayllo hydroelectric plant.

A further announcement will be made in due course.

For further information contact:
Posted at 02/3/2015 08:09 by moreforus
yep cottoner

liability is also in euros...and the payment is in gbp....

so even better for IPSA
Posted at 02/3/2015 07:26 by moreforus
RUR today

"Rurelec will now be making the previously announced payment to IPSA Group PLC from the proceeds of US $6.5 million"

get in there!
Posted at 23/2/2015 13:06 by moreforus
from LSE

asif6600
Posts: 317
Off Topic
Opinion: No Opinion
Price: 1.58
e mail from CEO

Today 11:12All, this is the e mail received from the CEO on Feb 18th.

If anyone wants the original e mail sent to them, please leave your e mail address.

I did indeed try to call and left you a message. I cannot give you any information which has not been released to the market via an RNS announcement. However I can tell you that if there was bad new to announce, we would have announced it. We have made no such announcements.

Our recent share price fall was the sale in a block of 4 per cent of the company at a foolishly large discount. The seller was a UK institution for whom this holding was too small for the portfolio at the current depressed price, so they just dumped the stock through market makers. It seems all to have been absorbed.

The one thing I can do is point you to the public statements of Eskom and the government of South Africa as to the planned extension of all MTPPP contracts, of which IPSA’s Newcastle Cogeneration is a beneficiary.

When there is something to announce, we will announce it, I promise. In the meantime there is nothing more which we can say.

Best regards,

Peter Earl

Peter Earl

Acting Chief Executive Office
Posted at 05/2/2015 13:35 by andrbea
They commented 30.12
loss of steam sales was the reason, but 2015 expansion plans still in place
so I see no change..... except that distressed seller( NY bank)
I see it back at 3p by March.
It never dipped below 3p all thru' 2014....fact
hit highs of 4p in 2013 & 2014.... fact

IPSA Group looks forward to more efficient 2015
Proactive Investors UK - Dec 30, 2014
By John Harrington December 30 2014, 1:00pm NewCogen has implemented plans to expand its generating capacity through the installation of new gas engines, and the first 1.2 megawatts (MW) of additional capacity was successfully commissioned in April ...

They also lost their CEO Nov 13 (who died)

(upbeat) Quote 30.12.14:

Whilst this half year has been disappointing due to the loss of steam sales, the planned reconfiguration of the plant which this forces on us will prepare us to increase our electricity output at a time when it will be much needed," said Richard Linnell, chairman of IPSA.

NewCogen has implemented plans to expand its generating capacity through the installation of new gas engines, and the first 1.2 megawatts (MW) of additional capacity was successfully commissioned in April 2014.

The new capacity operates at a significantly higher efficiency than that of the current plant in open cycle, without requiring an increase in fixed costs. A further 3 MW of engines have been shipped to the site and are awaiting installation.
Ipsa share price data is direct from the London Stock Exchange

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