Turbo Power Systems Inc.

Turbo Power Systems Inc.

December 28, 2006 05:36 ET

Turbo Power Systems Inc.: Completion of Placing, Loan Note Redemption and Move to AIM

CALGARY, ALBERTA--(CCNMatthews - Dec. 28, 2006) -

Turbo Power Systems Inc. ("Turbo Power Systems" or the "Company") (TSX:TPS)(AIM:TPS) -

Further to the announcement published on 27 November 2006, the directors of Turbo Power Systems are pleased to announce the successful completion of the placing to raise Pounds Sterling 6 million, and the move to trading on AIM, a market operated by the London Stock Exchange plc. They also announce the redemption of Pounds Sterling 4,860,000 loan notes and that the Company has received undertakings to redeem a further Pounds Sterling 4,500,000 of loan notes by 6 January 2007.

KBC Peel Hunt Ltd has been appointed as the Company's nominated adviser and broker.

Contact Information

  • KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8900
    KBC Peel Hunt
    Gordon Suggett
    +44 (0)20 7418 8900
    Gavin Anderson & Company (PR)
    Michael Turner
    +44 (0)20 7554 1400
    Website: www.turbopowersystems.com