Directors interests

RNS Number : 5762M

KSK Power Ventur PLC

30 January 2009

 



Immediate Release

30 January 2009

KSK Power Ventur plc ('KSK Power Ventur' or 'the Company')

Directors interests

KSK Power Ventur plc (AIM: KSK), the power project company with interests in multiple power plants across India, has received the following notification from two if its directors, Mr S. Kishore and Mr K. A. Sastry with respect to the promoter company of Mr. Kishore and Mr Sastry, K&S Consulting Group Private Limited ('K&S') and the order passed by the Honourable Company Law Board ('CLB'), Additional Principal Bench, Chennai dated 20th January 2009.

As previously announced by the Company, K&S holds 74.2% of Sayi Power Energy Limited, which in turn holds 100% of Sayi Energy Venture Limited, which in turn holds 100 million Ordinary Shares in KSK Power Ventur, representing 77.6% of the issued share capital of the Company.

Pursuant to the Order of the CLB, the following table outlines the shareholding pattern of K&S, both as set out in the Red Herring Prospectus ('RHP') for the Indian IPO of KSK Energy Ventures Limited ('KSKEV') the Indian subsidiary of the Company (which is listed on the National Stock Exchange and Bombay Stock Exchange in India) dated 14 June 2008 and the current revised position subsequent to the above order of the CLB.

Shareholder in K&S	As in the RHP of the Initial Public Offering of KSKEV			Revised Shareholding in K&S (post CLB Order)
	Number of equity shares in K&S	% of holding		Number of equity shares in K&S	% of holding
Mr S Kishore	538,107	31.88		254,484*	30.82
Mrs Aditi Kishore	125,233	7.42		125,233	15.17
Mr K A Sastry	651,240	38.58		206,263*	24.98
Mrs K Ratna	12,100	0.72		12,100	1.47
Raajratna Metal Industries Limited	100,000	5.93		100,000	12.11
Mr Girish Kulkarni	42,000	2.49		20,550	2.49
Mr K Bapiraju	109,500	6.49		53,578	6.49
Mr Tanmay Das	109,500	6.49		53,578	6.49
Total		100.00			100.00

*The revised shareholding (post CLB order) is inclusive of transfers of shares amongst the shareholders. 

In accordance with the articles of association of the Company (the 'Articles of Association'), the deemed interest of Mr. Kishore in KSK Power Ventur and KSKEV remains unchanged and as such he remains interested in 100 million Ordinary Shares in KSK Power Ventur and its underlying holding in KSKEV.  Due to the fact that the interests of Mr. Sastry and his family in K&S do not exceed 33 per cent., under the terms of the Articles of Association only, Mr. Sastry is not deemed to have a direct notifiable interest in any of the Ordinary Shares of KSK Power Ventur for the purposes of the AIM Rules.  It is however confirmed that the promoters continue their control of the group companies through the combined interests of themselves and their families in K&S.

For further information please contact:

KSK Power Ventur plc                               [phone]
S. Kishore, Executive Director
K.A.Sastry, Executive Director
       
Buchanan Communications                       [phone]
Mark Edwards / Ben Willey
       
Arden Partners plc                                    [phone]   
Richard Day / Adrian Trimmings

 

END

 

 

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