Rurelec Regulatory News (RUR)

30 Jul 2007 17:36

Rurelec PLC30 July 2007 Rurelec PLC - Director's Shareholding Rurelec PLC ("Rurelec" or "the Company"), the owner and developer of powerplants in Latin America, announces that its Managing Director, Peter Earl, hastoday sold 9,302,721 Ordinary shares in the Company to Independent PowerCorporation PLC ("IPC") at a price of 55 pence per share. This shareholdingrepresents 12.69 per cent. of the issued share capital of Rurelec. IPC is 99.9 per cent. owned by Peter Earl. At the same time IPC has agreed to acquire a further 1,500,000 Ordinary sharesin Rurelec from Secteur Holdings Limited, also at 55 pence per share. Thispurchase will take IPC's total shareholding in Rurelec to 14.74 per cent. of theissued share capital of Rurelec. IPC is a developer and operator of power plants worldwide. Since 1996 it hasowned, operated or developed over 4,000 MW of power generation capacity. Todayit has some 2,000 MW of thermal and hydro-electric power projects in Indonesia,Holland, Nepal and the former Soviet Union and is short-listed for third partymanagement contracts in Kazakstan and Pakistan having previously operatedgas-fired power generation units in Latin America for a subsidiary of BP. IPC has acquired its shareholding in Rurelec as part of a move to increase itscapital base while at the same taking stakes in regional power companies. Peter EarlManaging Director Tel. 020 7793 5610Rurelec PLC Nominated Adviser: Daniel Stewart & Company plc Tel. 020 7776 6550Stewart Dick This information is provided by RNS The company news service from the London Stock Exchange