Subsidiary shareholder update

RNS Number : 6912B

KSK Power Ventur PLC

30 October 2009

 



Immediate Release

30 October 2009

KSK Power Ventur plc (AIM: KSK.L) ("KSKPV")

Subsidiary shareholder update

KSK Power Ventur plc (AIM: KSK.L) ("KSKPV"), the power project company listed on the AIM market of the London Stock Exchange, with interests in multiple power plants across India, announces that its subsidiary, KSK Energy Ventures Limited ("KSKEV"), the equity shares in which are listed and traded on the National Stock Exchange of India Limited ("NSE") and the Bombay Stock Exchange Limited ("BSE"), has released the following announcement in India concerning a lock-up of KSKEV shares held by Lehman (as defined below). This lock-up covers 13.17% of the issued shares in KSKEV. 

"Announcement regarding Lehman's Non Statutory Lock Up with respect to the shares held in KSK Energy Ventures Limited the listed Indian Subsidiary"

KSK Energy Ventures Limited, The Company, its significant shareholders, namely LB India Holdings Mauritius I Limited (for itself and on behalf of its various subsidiary companies, all collectively referred as "LB Group"), KSK Energy Limited, (a wholly owned subsidiary of KSK Power Ventur Plc) and KSK Power Ventur Plc have entered into a Non-Statutory Lock up agreement dated 29 October, 2009 under which the LB Group has agreed to, among other things, not sell, pledge or transfer for a period of two years from the date of the agreement (i.e., until October 29, 2011) 45,580,537 shares of the Company (representing 13.17% of the outstanding shares of the Company)." 

For further information please contact:

KSK Power Ventur plc                     [phone]

S. Kishore

Arden Partners plc                          [phone]

Richard Day / Adrian Trimmings

Buchanan Communications             [phone] 

Mark Edwards / Nicola Cronk

 

END

 

 

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