IPSA.L Share News (IPSA)

Shares in power generation and conditioning equipment supplier Turbo Power Systems climbed higher after it said it reached an agreement to repay a loan at a reduced rate to that initially agreed.The company said that 2005 Loan Notes, which would have been due in March 2010, can now be repaid at a reduced rate of 20% in January or through immediate conversion into Turbo Systems common stock at an enhanced rate of 2.15p a share, compared with the 1.2p agreed previously.Cash machine operator Payzone is exiting the Netherlands market, having sold its electronic funds transfer payments solutions and terminals business in the country to FIBAD BV for €5.7m.The disposal will also release deposits and financial guarantees of €1m, provided as security for bank overdraft facilities.South African power station developer IPSA Group said Independent Power Corporation (IPC), a power development company controlled by IPSA's chief executive, Peter Earl, is interested in acquiring one of IPSA's Siemens Westinghouse 701 DU turbines for $30m.The purchase is conditional on IPC obtaining finance for the development of a gas-fired power plant at Huaricana near La Paz, Bolivia.