15:52 02/02/2012 Proactive Investor Comments Today...
IPSA's turbine buyer wants three month deadline extension
February 02. at 3:15 pm
http://bit.ly/yLr4Gu By SpikeyDT
6:23 25/01/2012 Wrap.
Hybridan Small Cap Wrap -
Wednesday, Jan 25 2012 by Hybridan
http://bit.ly/yn8OT6 By SpikeyDT
16:23 12/01/2012 Proactive Investor Comments Today...
Thursday, January 12, 2012
4.06PM
PROACTIVE NEWS SUMMARY: Tesco, New World Oil & Gas, Orosur Mining, Hambledon Mining, IPSA
http://bit.ly/ACcMyu By SpikeyDT
13:11 12/01/2012 Shares rise as first turbine sale completes
IPSA shares rise as first turbine sale completes
January 12. at 12:58 pm
http://bit.ly/wxNszm By SpikeyDT
8:45 08/12/2011 IPSA says power plant now fully operational
IPSA says power plant now fully operational
8:32 am by Philip Whiterow
http://bit.ly/tjAiuC

IPSA says its plant in South Africa is now fully operational

South-Africa focused power company IPSA (LON:IPSA) said today it expects to book a profit of £6.3 million when it completes the sale of four of its turbines.
Last week, IPSA said that the deadline for the completion of the sale had been extended until the 31 January.
The £42.3 million proceeds will enable IPSA to pay off all its creditors, including an £18.5 million loan and accrued interest to Standard Bank and £15.1 million of trade debtors.
Revenues in the six months to 30 September rose to £1.9 million from £675,000 as the group sold 20.7 million kWh of electricity to South African power group Eskom after operations recommenced in March. Steam sales also started again in August.
Net losses in the six months rose to £2.6 million, up from £0.4 million, which IPSA said was broadly in line with its expectations. Operating losses fell to £800,000 from £1 million.
Richard Linnell, chairman, said: "Following the significant delays before recommencing production of electricity in March 2011, which was due to the protracted negotiations in finalising the MTPPP contract, it is pleasing to report that the plant in South Africa is now fully operational and, although output is still below full capacity, the plant is cash generative.“
“We expect to add additional capacity by mid-2012 which we believe will make the plant profitable, covering both operating costs and depreciation,” he added.
Margins on electricity sales were affected by an 8.1 per cent increase in the gas price following an increase in the Brent oil price and IPSA is now considering hedging against Brent crude, which is a component in the setting of the gas price.
Linnell added that the group's working capital position will remain “extremely tight” until it completes the sales of the turbines. By SpikeyDT
16:06 02/12/2011 Group extends deadline for turbine sales
IPSA Group extends deadline for turbine sales
12:51 pm by Jamie Ashcroft
http://bit.ly/taIL4e

Independent power company IPSA Group (LON:IPSA) today told investors that it expects to receive the proceeds from its turbine sales by the end of January.
IPSA struck two separate deals to sell the turbines for total of US$66 million in mid July. The deals were initially expected to close within 120 days.
That has now been extended so that the deals close on or before January 31 2012.
Additionally IPSA confirmed today that it has executed a deed of trust whereby all proceeds from these two deals will be paid into a trust account to be operated by the company's two key creditors, Standard Bank PLC and Turbocare SpA.
It also said that one of the buyers has agreed to pay a further US$2 million deposit. The deposits have been transferred into the trust account and a US$60 million is due to be received on closing.
The company said that its working capital position will remain extremely tight until both sales have completed. Additional working capital will be required in the meantime to repay the Loan Notes due on 31 July 2011 unless their repayment period is extended, IPSA added. By SpikeyDT
17:56 30/09/2011 Peter Earl buys shares in firm
IPSA Group: Peter Earl buys shares in firm
4:10 pm by Giles Gwinnett
http://www.proactiveinvestors.co.uk/companies/news/33829/ipsa-group-peter-earl-buys-shares-in-firm-33829.html

Earl bought 250,000 shares in the firm on September 28 at a price of 6.5 pence per share, IPSA Group said
Non-executive director and former chief executive of South African independent power firm IPSA Group (LON:IPSA) Peter Earl has bought shares in the company.

Earl bought 250,000 shares in the firm on September 28 at a price of 6.5 pence per share, IPSA Group said.

He is now interested in 250,000 shares which represents 0.23 per cent of the firm.

The firm appointed Philip Metcalf as the new chief executive of the company with effect from September 8. Earl stepped down from his position to focus on his role at Rurelec (LON:RUR).

He remains on the board as a non-executive director.

Earl saw IPSA through a difficult period in recent years keeping the company afloat as it worked to sell four turbines, originally bought for a project that was shelved in 2008.

And he finally sealed deals worth £41 million in July this year. At the end of March IPSA had £2.9 million in cash and its debt totalled £36.8 million. So a meaningful cash pile should be left for the group’s future development. By SpikeyDT
18:54 28/09/2011 30% of company
Spikey check out trades today mate late on. Over 30% of company traded. Most volume ever!!!

By TOPINFO
10:37 02/08/2011 IPSA’s value will be ‘quite substantial’
IPSA’s value will be ‘quite substantial’ after turbine sales complete, says Peter Earl http://t.co/pKpfU6T
8:35 am by Jamie Ashcroft

IPSA now plans to focus all its attention on the Newcastle Cogeneration power plant
By selling four gas powered turbines on July 20, IPSA (LON:IPSA) chief executive Peter Earl may well have brought the company back from the brink.
But having spoken to Earl, Proactive Investors has learnt that this deal is more than simply a means to clear the group’s debt. Crucially Earl reckons his South African independent power business will now have ample cash left over to push ahead with a new phase of growth.
It was less than two weeks ago that IPSA’s patient investors celebrated the news that two deals were finally in place to sell four gas turbines for £41 million.
The turbines were initially bought for the Coega power plant, a project shelved back in 2008. Since then the expensive turbines have been a costly burden and the group has had to rely on its creditors.
But after years of uncertainty the future is beginning to look much brighter for IPSA, which now plans to focus all its attention on the Newcastle Cogeneration power plant that generates electricity and also sells by-product steam to neighbouring industrial customers.
"The value of IPSA’s remaining business will be quite substantial and IPSA shareholders will benefit from this once the turbine sales are complete and we’ve cleared our debt," chief executive Peter Earl told Proactive Investors.
“When the dust settles, I believe we will be looking at a net worth in the mid-twenties (pence per share) based on the last audited balance sheet.”
At the end of March IPSA had £2.9 million in cash and its debt totalled £36.8 million. Now it is set to receive a £41 million windfall from the turbine sales and it plans to clear its debts, leaving a meaningful cash pile for the group’s future development.
“Our cash position should be at least £7 million and it could be higher than that,” Earl said.
He explained that around £4 million of IPSA’s outstanding liabilities are tied in with a commercial dispute relating to a previous contract with Sasol Gas Limited, and IPSA may actually ultimately pay less than the amount initially claimed by Sasol under take or pay provisions.
Meanwhile, Earl believes that the group’s core asset, the Newcastle independent power plant (IPP) could be worth more than the US$23 million it cost to build the plant back in 2006 and importantly he hopes that IPSA’s investors will now focus on this part of the business.
“We’ve made a number of announcements about the Newcastle plant which I don’t think many investors really took on board while the turbines were still an issue,” Earl said.
“And we’re now looking to expand the Newcastle plant to maximise its potential capacity on the grid.”
“Newcastle is now in positive cash flow territory and we continue to work on improving margins, revenues and output,” Earl added.
“We’ve got an active contract with South Africa’s main power distributor, Eskom, which is buying in power from Newcastle at a premium under the Medium Term Power Purchase Programme (MTPPP).”
“And we are now finally cranking up our steam sales on the site, so we are now generating revenues from power generation and from steam.
“In order to maximise our profitability of Newcastle we have to be selling both electricity and stream, but if we’re not generating electricity then we can’t sell steam.
“So it’s a delicate balance,” he said. “When Eskom stopped buying electricity from us in 2008, a period during which electricity demand fell, it was a big problem.
“But now they’re buying all the power we can generate at a good price and life is now much easier for IPSA.”
Looking forward, Earl added: “It is quite likely that we will look at ways to improve the output at the Newcastle plant, to improve margins – that might m By SpikeyDT
8:29 21/07/2011 The Times-Deal Of The Day
The Times
7:26 am
http://bit.ly/nu8rlA

Deal of the day: IPSA shares more than doubled to 10.63p, after the South African power generator agreed to sell four gas turbines for $66 million (41 million) to two separate investment groups. Shouldering debt of 36.8 million, the sale should allow IPSA to focus on other energy projects in the country, having relied on the support of its creditors for some time. By SpikeyDT
8:25 21/07/2011 Re: morning riser!
how much working capital?

Not that much - let's not get carried away. It's a great RNS and really signals a change in times for IPSA, but after paying back their obligations and putting aside money to cover potential liabilities they will still only have a few million.

Still that's a long way away from being £32 mill in debt with a court case hanging over you and a shareprice in freefall.

I think fair valuation is somewhere between 10-15 at the moment. Remains to be seen what mr market will give. By bert9000
19:53 20/07/2011 Re: RNS

At last some good news for us long suffering shareholders.

First bought these in June 08!! and a few times since.

It's been a rollercoaster, but I bought some more at 6p after last month's RNS said they had indicative offers for all 4 of the Turbines.

I think these could go first thing tomorrow lol. By moonie2
19:40 20/07/2011 FT
July 20, 2011 6:24 pm
By Neil Hume and Bryce Elder

IPSA Group, the power group focused on southern Africa, increased by 102 per cent to 10.6p on news of an agreement to sell four gas turbines for £44m – or eight times its market value at the start of trading on Wednesday.

http://www.ft.com/cms/s/0/7bdd8b32-b2e5-11e0-86b8-00144feabdc0.html#ixzz1SfUs7vtg
 By SpikeyDT
17:31 20/07/2011 morning riser!
wait until tomorrow!!!!! timing on this is excellent lol 3:30pm!

as a an estimate...how much working capital will the company now have?? By MANCHESTER2009