RE: From the archives6 Nov 2017 09:35
http://indpow.co.uk/index.php.
Spin-out of Independent Power Corporation from Rurelec PLC
The Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, announce the spin-out of Independent Power Corporation PLC ("IPC") from the Company. The separation of power plant development from the core Rurelec business of owning and operating of power plants in Latin America is being effected through the sale to Peter Earl, Rurelec's former CEO, of all of the issued share capital in IPC for a nominal sum once all the principal assets of IPC have been transferred to Rurelec.
The net effect of the spin-out is to reduce overhead at Rurelec by more than �500,000 per annum. This has the additional benefit of allowing Rurelec to work with other developers and operators of power plants whilst also reducing fixed costs.
Therefore we spun out $250 million for half a million pounds .
Didn`t Peter do well .
Not so Impressive by Mr Morris.
And May