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IPSA shares lifted by court ruling in Malaysia

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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.

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