LONDON (Alliance News) - IPSA Group PLC Wednesday confirmed a further sum of around EUR340,000 it owed to Ethos Energy Italia has been paid by Rurelec PLC on its behalf, reducing the amount owed to around EUR1.5 million.
The company reiterated that a further sum of EUR2.6 million is also due to Ethos by Wednesday, and noted that ire remains reliant on the forebearance of Ethos in relation to these amounts, as there has been no formal extension.
IPSA was due to publish its results for the year to end-March by Wednesday, however, it noted it will not be in a position to do so, and as a result its shares have been suspended. It is looking to publish the results as soon as possible.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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