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 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.00 0.00 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 2.52 -0.56 -0.19 2
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.00 GBX

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Date Time Title Posts
28/4/201707:52S. African Power Plants - Worth a look?706

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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.
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
loverat: I was just thinking about this one and all the hassle of the sale of the turbines. The outcome here in terms of share price was not that great after all was it?
knigel: i thought the share price was suppose to soar on this newd?
nash81: this one sounds very positive "the company issued a statement reaffirming efforts to complete the sale." ----------- Shares in power group Ipsa jumped over 7% on Monday after the group reiterated its commitment to close the sale of its last two turbines as soon as possible. The group was attempting to sell its remaining two Siemens Westinghouse 701 DU gas turbines to Malaysian power development company Iris Eco Power for $31-million, allowing the group to repay its creditors. However, Iris Eco Power, in December, sought an extension of the sale agreement, which Ipsa's creditors have not yet agreed to formalise. In response to a recent movement in the group's share price the company issued a statement reaffirming efforts to complete the sale. Ipsa initially said it would sell the two 701 DU gas turbines to Lezayre Holdings, but reported that the contract had expired owing to delays. The company sold the other two of its four gas turbines, which it initially acquired for a power project at Coega, to Bright Day, in January 2012, for $35-million.
nash81: posted in iii if the buyer cancels we would have known it by now. and yet, they extended from the end of dec for another 15 days (today). so, I am guessing, even if IPSA does complete the transaction with them and receive the money from the buyer (in the form of bank Letter Credit?) perhaps IPSA may want to wait a couple of days for the money to be cleared in IPSA bank account. and only then issue the RNS. the buyer, is a large corporation listed in malaysia, and checking the report, it has huge cash pile, so money is not an issue with them. maybe the delay was due to logistics or arranging transportation of turbine from SA to malaysia? and saying that, should they cancel, the buyer will loss 3m deposit they paid and wasted large money they spent in doing due diligence on this turbine, so this will be very bad news for them and will definitely impact the buyer share price, which I am sure they want to avoid. either way, even without this sale, checking IPSA account, our assets (plant/equipment+turbines) worth much more and after deducting debt, it will be worth around 14p. so, patient here is the key. RNS will come anytime this week i believe. p/s: large huge BUY trade after close yesterday does tell us something.
scientologyweirdo: I see moreforus is voting me down as if that'll make any difference to the share price PMSL Penny (only 1p mind) for the thoughts of messrs TOPINFO and simonparker5 ?
topinfo: No news is not bad news. News saying deal off or not completed would be bad news. Since they have not said that then one assumes its still deal on and they are in process of sorting completion paperwork out and legal issues etc which as anyone with half a brain knows can have some delays depending on the complexity. I would say no news is good news here as opposed to what the derampers are saying by no news is bad news. I am confident we will get a completion Rns and money received Rns this week. The distinct lack of sells tells me that many believe this deal will go through and its only those paid derampers that are panicking here, coz if it goes ahead and they get the cash expect a very significant mark-up in the share price of IPSA. Lets see what 2moro and Friday brings eh.
moreforus: bbr391 Posts: 1,031 Off Topic Opinion: Buy Price: 4.25 SummaryToday 13:59We have two turbines in south africa, value approx £ 15 mill (after depreciation) and £2.8 cash. Company value £17.8 . Thus the share price should be 14.6p. Interesting. gla concerned
simonparker5: I make it that once the money is received we will have no debt and assets and cash of more than £12m. With a market cap of £4m at the current share price this has a lot higher to go.
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