IPSA was established to develop, own and manage power generation plants in Southern Africa. The Company's management has an established track record in developing power projects worldwide and with relevant experience in the electricity sector in South Africa. It has two principal business objectives, the development and ownership of power generation facilities in Southern Africa in order to sell electricity and/or heat or steam to companies and communities on commercial terms; and in due course, the purchase, refurbishment and operation of existing power plants in the region.
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Company Statement:
IPSA Group PLC ("IPSA") is a company incorporated in England and Wales which has been established to develop, own and manage power generation plants in southern Africa. The company has been quoted on the AIM Market of the London Stock Exchange PLC since September 2005 and on the Altx market of the Johannesburg Stock Exchange since October 2006.
The Company's management has an established track record in developing power projects worldwide and with relevant experience in the electricity sector in South Africa. It has two principal business objectives:
the development and ownership of power generation facilities in Southern Africa in order to sell electricity and/or heat or steam to companies and communities on commercial terms; and
in due course, the purchase, refurbishment and operation of existing power plants in the region.
For the majority of its projects, the Group intends to own the Project Company outright. However, where the Directors consider it advantageous, the Group will develop its power generation assets in conjunction with a project partner including Broad Based Black Economic Empowerment ("BEE") partners.
Current Operations:
IPSA’s combined heat and power (“CHP”) in Newcastle is South Africa's first privately financed independent power plant, which is also South Africa's first independent gas-fired power station.
The Newcastle Cogeneration power plant was constructed within fourteen months. It produces both steam and electricity with a nominal power capacity of 18 MW and the capability to deliver just under 1 million tonnes of steam per annum. It operates as a combined cycle gas turbine (CCGT) plant, again the first in South Africa, using two Siemens Tornado gas turbines with two Aalborg steam boilers capturing the waste heat and turning the super-heated steam into additional electricity from a steam turbine. The plant provides steam and electricity to three industrial companies on site.
The plant operating as a CCGT has a thermal efficiency of nearly 56 per cent., which means that it produces around 40 per cent. less CO2 than a conventional coal-fired plant for every kilowatt hour of electricity it generates. This is one of the lowest emissions of CO2 of any thermal power plant in South Africa. For this reason the Newcastle plant may be eligible for carbon credits under the United Nations Clean Development Mechanism under the Kyoto Protocol.
Management
Major Shareholders
The total number of IPSA securities in issue is 107,504,081
These shares are divided as follows:
AIM of the London Stock Exchange 86,734,418
AltX of the Johannesburg Stock Exchange 20,769,763
IPSA Group's significant shareholders are:
| Shareholder | Shares | As percentage |
| Sterling Trust Limited | 31,794,105 | 29.57 |
| Metc Metlife Main Account - RSA | 14,129,894 | 13,14 |
| Credit Suisse Client Nominees (UK) Limited | 11,538,700 | 10.73 |
| Credit Suisse Securities (Europe) Limited | 7,345,776 | 6.83 |
| Lynchwood Nominees Limited | 5,695,500 | 5.30 |
| The Bank of New York (Nominees) Limited | 4,431,435 | 4.12 |
| HSBC Client Holdings Nominee (UK) Limited | 3,736,370 | 3.48 |
| Stephen Hargrave | 3,670,370 | 3.41 |
IPSA Group's substantial shareholders are:
| Substantial Shareholders | 57,462,699 | 53.45% |
| Sterling Trust Limited | 31,794,105 | 29.57 |
| Metc Metlife Main Account - RSA | 14,129,894 | 13,14 |
| Credit Suisse Client Nominees (UK) Limited | 11,538,700 | 10.73 |
IPSA Group's director shareholdings are:
| Directors' Interests | 16,043,362 | 14.92% |
| Neil Bryson | 50,000 | 0.05 |
| Michael Cox | 40,000 | 0.04 |
| Peter Earl | 250,000 | 0.23 |
| J. Michael Eyre | 1,250,000 | 1.16 |
| Rizelle Sampson*** | 13,434,612 | 12.50 |
| Elizabeth R. Shaw | 1,268,750 | 1.18 |
***Rizelle Sampson is a director of Amandla Energy Resources (Pty) Ltd. for which Metc Met Main Acct RSA act as nominee
The percentage of shares not in public issue is: 55.23%
The percentage of IPSA shares held as treasury shares is: 0.0%
There are no restrictions on the transfer of IPSA shares.
This information was last updated: 30 September 2011
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Updated from company website 4/01/12
Contact Information
UNITED KINDGOM
IPSA Group PLC,
Prince Consort House,
27 - 29 Albert Embankment,
London SE1 7TJ,
United Kingdom
Tel: +44 (0)20 7793 5615
Fax: +44 (0)20 7793 7654
SOUTH AFRICA
PO Box 20988,
Newcastle 2940,
South Africa
Tel: +27 (34) 328 4481
Fax: +27 (34) 370 1256
Corporate Information
Nominated Adviser & Broker
Execution Noble & Company Limited, 10 Paternoster Square, London, EC4M 7AL
www.execution-noble.com
Brokers
W H Ireland Limited, 24 Martin Lane, London, EC4R 0DR.
www.wh-ireland.co.uk
Registrars
Neville Registrars, Neville House, 18 Laurel Lane, Halesowen, West Midlands, B63 3DA.
www.nevilleregistrars.co.uk
Auditors
Grant Thornton UK LLP, Grant Thornton House, Melton Street, Euston Square, London, NW1 2EP
www.grant-thornton.co.uk
Solicitors
Skadden, Arps, Slate, Meagher & Flom (UK) LLP, 40 Bank Street, Canary Wharf, London, E14 5DS
www.skadden.com
Bankers
HSBC Bank plc, 13-14 Sloane Square, London, SW1W 8AL
www.hsbc.com
