Rurelec PLC


Press Releases 2010

Director's Dealing


17 June 2010



Rurelec PLC

("Rurelec" or "the Company")


Director's dealing


Rurelec PLC (AIM: RUR), the developer, owner and operator of power generation capacity in Latin America, announces that as part of a family settlement agreement the holdings of the Independent Power Corporation PLC, a company controlled by CEO Peter Earl, together with the personal holding of Peter Earl and all but 10,000 shares held by Emma Earl have been sold.  The combined shareholding of 33,434,486, 15.45 per cent. of the Company, has been acquired by Sterling Trust Limited, a UK private investment company, at a price of 10 pence per share.  As a result of this series of transactions, Peter Earl no longer holds any interest in shares in the Company.  IPC continues to hold £700,000 of convertible loan notes, warrants to subscribe for new shares of Rurelec and a loan to Rurelec.


Andrew Morris, Chairman comments: "It is unfortunate for Peter that personal considerations have forced the sale of these interests.  However, I am confident of the ongoing support of Sterling Trust for the Company and I am looking forward to working with Peter on the important tasks of refinancing our Argentine subsidiary and negotiating satisfactory compensation arrangements with the Bolivian Government."




For further information contact:


Peter Earl
Managing Director 

+44 (0)20 7793 5610

Paul Shackleton/ Tessa Smith
Daniel Stewart & Company      

+44 (0)20 7776 6578

Daniel Briggs

Religare Capital Markets             

+44 (0)20 7444 0500

Richard Swindells/Andrew Craig,

Ambrian Partners

 +44 (0)20 7634 4700

Ana Ribeiro

Blythe Weigh Communications

+44 (0) 20 7138 3206













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