IPSA (LON:IPSA) shares gained 3.5% on Tuesday as the company revealed positive about its legal dispute with Iris Eco Power Sdn Berhad.
The AIM quoted, southern Africa focussed power firm said a court hearing in Malaysia accepted the company’s claim that Malaysian courts should not have jurisdiction. The Malaysian court has also awarded costs in favour of IPSA.
The dispute centres on a deposit, kept by IPSA, relating to a proposed turbine sales deal which was not concluded.
Iris has thirty days to file an appeal.