IPSA Group PLC Notification of Adjournment of Iris Appeal (6935E)

TIDMIPSA

RNS Number : 6935E

IPSA Group PLC

05 November 2015

5 November 2015

IPSA Group PLC

("IPSA" or the "Company")

Notification of Adjournment of Iris Appeal

IPSA, the AIM and Altx dual listed independent power plant developer with operations in Southern Africa, announces that Iris Ecopower Sdn Berhad ("Iris") has requested an adjournment of its application for leave to appeal the earlier decisions of the Malaysian courts refusing jurisdiction of the Malaysian courts over the case over the non-refundable deposit for the failure of Iris to complete the purchase of turbines in 2012. A new date of 3(rd) February 2016 has been set for the hearing.

The Company further confirms that site construction activities relating to the installation of the Jenbacher engines have commenced, with the scheduled commercial operation date now expected to be February 2016 as a result of unexpected delays in the construction programme.

For further information please contact:

 
 Mark Otto, Acting CEO 
  IPSA Group PLC                 +44 (0) 7793 5615 
 
   James Joyce / Liam Gribben      +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

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November 05, 2015 07:00 ET (12:00 GMT)

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