IPSA : Result of AGM and directorate change

7 April 2016

IPSA is pleased to announce that the Company's AGM held today all resolutions were duly passed. Richard Linnell and Neil Bryson did not stand for re-election as Directors and subsequently will be leaving the Board with immediate effect. Following the AGM, Mark Otto tendered his resignation and has resigned from the Board with immediate effect.

The Company is pleased to announce the appointment of Susan Angela Laker as a Chairman Director with immediate effect.
Following the recent directorate changes the board currently comprises the following Directors:

• Peter Earl, Chief Executive Officer
• Susan Laker, Chairman and Company Secretary

Peter Earl, Acting CEO, commented:
'I would like to thank Richard, Mark and Neil for all their efforts and wish them every success in the future. I would also like to welcome Susan to the Board, I'm certain she will prove a valuable addition to the Board.'

The following information is disclosed pursuant to Rule 17 and Schedule 2, paragraph G of the Aim Rules:
Susan Laker (aged 64) began her career at Racal Electronics PLC in the China office before working as a lawyer for Bird and Bird. Susan also held part time roles for UK Government advising British companies on business with China and as a lecturer for the School of Oriental and African Studies, University of London. In 1997 Susan joined The Independent Power Corporation PLC as a Director. In 2003 Susan joined Rurelec PLC as Company Secretary and in 2005 she joined IPSA Group PLC as Company Secretary. Susan also served as Company Secretary and General Counsel to Strategic Natural Resources PLC between 2006 and 2010. Susan is a qualified solicitor and Member of the Law Society of England and Wales.

Susan owns 650,000 ordinary shares in IPSA ('Shares'), representing approximately 0.6 per cent. of the Company's issued share capital. Susan also has 407,181 options over Shares.
Current directorships
Blazeway Engineering Limited
Bioethanol Limited
Previous directorships (within 5 years)
Latin Bio Limited
Greenheart Wood Fuels Limited
Asian Independent Power Limited
Independent Power Corporation PLC
The Old Library Apartments Management Company Limited
Susan was a Director of Asian Independent Power Limited when it was placed into compulsory liquidation in January 2012 when it could not meet its obligations to its convertible loan note holders. There were unsatisfied claims from unsecured creditors totalling approximately £496,000. Liquidation proceedings were closed in August 2014.
Save for the information disclosed above there is no other information to be disclosed pursuant to Schedule 2, paragraph G of the AIM Rules.

For further information contact:
Peter Earl, CEO, IPSA Group PLC
[phone]
James Joyce / James Bavister, W H Ireland Ltd
[phone]
Riaan van Heerden, PSG Capital (Pty) Ltd.
[phone]