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IPSA Group PLC Ord 2P (IPSA)

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17-Apr-2015 08:15 AM

IPSA's win

IPSA Group has won a Malaysian Court of Appeal ruling in its dispute with Iris Ecopower Sdn Berhad over a non-refundable deposit. The court dismissed Iris' appeal and awarded costs in favour of IPSA. This is the second time in which the Malaysian c
02-Mar-2015 09:28 AM

IPSA expects Rurelec payment after plant stake sale

IPSA has noted an announcement today by Rurelec PLC regarding the sale of its stake in the Canchayllo hydroelectric plant in Peru. IPSA says it expects to receive payment from Rurelec of the £3.2 million deferred consideration still owed to IPSA fro
30-Dec-2014 11:40 AM

Half year loss for IPSA Group

IPSA Group, the independent power plant developer with operations in southern Africa, has announced a loss after tax for the six month period ended 30 September 2014. Revenues were down to £1.9m for the half year, compared to £2.1m in the same period
29-Dec-2014 08:26 AM

IPSA expects payment by Rurelec in early 2015

IPSA expects to receive the deferred consideration from Rurelec following the sale of the Westinghouse Siemens gas turbines in early 2015. IPSA says it notes the announcement on 24 December by Rurelec relating to the provision to it of a short term loa
03-Oct-2014 01:25 PM

IPSA resolutions passed at AGM

IPSA, the developer, owner and operator of power generation capacity in southern Africa, has confirmed that all the resolutions put to the annual general meeting held earlier today were duly passed At 1:25pm: (LON:IPSA) IPSA Group PLC share price was
12-Sep-2014 08:07 AM

IPSA bounces into the black

Independent power plant developer IPSA bounced into the black with an after-tax profits of £0.4m in the year to the end of March against a £1.9m loss last time. Revenues fell to £3.7m from £4.3m but plant operating losses narrowed to £1.5m from £1.
04-Jul-2014 09:57 AM

IPSA agrees short-term loan

IPSA Group has secured a short term loan of £500,000 from Radix International Limited for the next six months at an interest rate of 1% per month. The group says this will provide working capital until such time as the installation programme for the tw
25-Mar-2014 01:30 PM

IPSA wins jurisdiction ruling over Iris claim

IPSA Group has won a court ruling on the jurisdiction over a claim brought by Iris Ecopower Sdn Berhad. A court hearing in Malaysia has accepted an application by IPSA that the Malaysian courts should not have jurisdiction over the claim. The court also
09-Sep-2013 03:15 PM

IPSA schedules AGM

IPSA (LON:IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces today that the Annual General Meeting of the Company will be held on Monday, 30 September 2013, at 10.30 a.m., at IPSA Group PLC, 5th Floor, Prin
02-Aug-2013 09:11 AM

IPSA unit acquires gas-fired engine

IPSA Group's wholly owned generation subsidiary, NewCogen, has acquired a Deutz gas fired engine of 1.3 MW which is due to be installed at the Newcastle site by the end of October. IPSA - the developer, owner and operator of power generation capacit
03-Jul-2013 09:47 AM

IPSA board shake-up after turbine sale

IPSA has unveiled a raft of board changes following the recent sale of its last two Siemens Westinghouse 701 gas turbines. IPSA plans to build up an executive team in South Africa but is cutting short-term costs with two executive directors and a non-exe
10-Jun-2013 08:41 AM

IPSA agrees sale of turbines

IPSA Group has agreed to the conditional sale of its two remaining Siemens Westinghouse 701 DU turbines to Rurelec for £16.1m. At 8:41am: (LON:IPSA) share price was 0p at 3.5p Story provided by StockMarketWire.com...
26-Apr-2013 02:29 PM

IPSA gets increase in working capital loan

IPSA Group has agreed an amendment to its short term loan with Bluestone Securities to allow the drawdown of up to £750,000 in additional funds, increasing the total loan to £4,950,000. There are no other changes to the financing terms. The loan is du
27-Mar-2013 01:08 PM

IPSA Group agrees short term loan

IPSA Group has obtained a new short term loan of £4.2m and used the proceeds to repay all its secured bank debt. The group - which has been in default on the loan from Standard Bank for some time - required consent of the bank before a sale of IPSA&apos
15-Feb-2013 02:30 PM

IPSA sets Iris deadline over turbine deal

IPSA Group has given Iris Eco Power until the end of the month to enter a new contract over its purchase of two turbines. IPSA announced the sale of the turbines to Iris on 15 October and with completion due in November. IPSA said no firm date for co
18-Dec-2012 09:44 AM

IPSA turbines buyer seeks extension

Iris Eco Power is seeking an extension on the sale agreement for IPSA Group's remaining two W701 DU gas turbines to 15 January. IPSA says it is considering this, and advises shareholders that any extension will be subject to the approval of Standard
29-Nov-2012 01:12 PM

IPSA after-tax losses fall as revenues rise

Southern Africa-focused power plant developer IPSA Group halved its after-tax losses to £1.3m in the six months to the end of September. Revenues rose to £2.5m from £1.9m and comprised electricity sales of £2.1m (2011: £1.7m) and steam sales of
19-Nov-2012 08:54 AM

IPSA exchanges contracts on sale of turbines

IPSA Group has exchanged contracts for the sale of its two remaining Siemens Westinghouse 701 DU gas turbines to Iris Eco Power Sdn Bhd for $31m, as first announced on 15 October 2012. Under the turbine sale agreement, completion is expected to occur o
15-Oct-2012 09:49 AM

IPSA agrees sale of remaining turbines

IPSA Group has agreed to sell its two remaining Siemens Westinghouse 701 DU gas turbines to Iris Eco Power Sdn Bhd, a Malaysian power development company, for $31m. Iris has paid a deposit of $3.1m and the balance is due on or before 5 November. The e
03-Sep-2012 02:28 PM

IPSA in profit as trading performance improves

Independent power plant developer IPSA Group bounced into the black with after-tax profits of £5.6m in the year to the end of March. This compares with a loss of £5.2m in 18 months to the end of March 2011. The group had revenues of £4.4m in the year
10-Aug-2012 12:41 PM

IPSA settles out of court on payment dispute

IPSA Group PLC (LON:IPSA), the developer, owner and operator of power generation capacity in Southern Africa, announces that it has received confirmation of the withdrawal of the claim by Sasol Gas Limited against Newcastle Co-generation (Pty) Limited, th
09-Jul-2012 04:02 PM

Sterling Trust acquires £350,000 of IPSA loan notes

IPSA Group has been notified that Sterling Trust has acquired £350,000 of the loan notes which IPSA issued on 5 March. In addition, Sterling Trust has acquired warrants to subscribe for 2,500,000 new shares of the IPSA Group, which were issued on the
02-May-2012 08:05 AM

IPSA working capital position remains extremely tight

IPSA Group - the developer, owner and operator of power generation capacity in southern Africa - has confirmed that its working capital position remains extremely tight. The company says that further to its announcement on 2 February, its principal cred
02-Feb-2012 02:47 PM

IPSA turbine sale delayed

Lezayre Holdings has asked for a three-month extension to complete its purchase of IPSA Group's two remaining Siemens Westinghouse 701 DU gas turbines. IPSA and its largest creditors, Standard Bank and TurboCare, are considering this request and a
08-Dec-2011 09:11 AM

IPSA after-tax losses rise

Power plant developer IPSA posts after-tax losses of £2.6m for the six months to the end of September - up from £0.4m last time. Revenues rose to £1.9m from £0.7m comprising electricity sales of £1.7m (2010: £0.7m) and steam sales of £0.2m (2010:
 
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