29 February 2016

Further to the RNS dated 28 January 2016, IPSA (AIM:IPSA), the developer, owner and operator of power generation capacity in South Africa, announces the completion of the sale of Blazeway Engineering Limited ('Blazeway') to Sloane Corporation Limited ('SCL') following satisfaction of the conditions precedent in the sale and purchase agreement.

The transaction constitutes a fundamental disposal under the AIM Rules and consequently IPSA is now regarded as an AIM Rule 15 cash shell, and is required to make an acquisition or acquisitions constituting a reverse takeover under the AIM Rules within the next 6 months.

For further information contact:

Mark Otto, Acting CEO
IPSA Group PLC
+27 (84) 219 2000

James Joyce / James Bavister
W H Ireland Ltd

+44 (0) 20 7220 1666

Riaan van Heerden,
PSG Capital (Pty) Ltd.

+27 (0) 21 887 9602

IPSA Group plc issued this content on 29 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 March 2016 11:48:22 UTC

Original Document: http://www.ipsagroup.co.uk/news-and-publications/266-sale-of-blazeway-engineering-limited.html