Holding(s) in Company

RNS Number : 3609X

KSK Power Ventur PLC

03 December 2010

 



For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii				KSK Power Ventur plc ("KSK" or  the "Company")
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Pledge over existing Ordinary Shares				√
3. Full name of person(s) subject to the notification obligation: iii		Sayi Energy Ventur Limited (the holding company through which  Sayi Power Energy Limited, Executive Directors Mr. Kishore and Mr. Sastry as well as GE capital and Crescent Investment plc hold their interest in the Company)
4. Full name of shareholder(s)  (if different from 3.):iv		See Section 9
5. Date of the transaction and date on which the threshold is crossed or reached: v		3 December  2010
6. Date on which issuer notified:		3 December  2010
7. Threshold(s) that is/are crossed or reached: vi, vii		N/A

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ord 0.1p shares IM00B1G29327

96,778,750

96,778,750

96,778,750

96,778,750

63.76%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

96,778,750

63.76%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
In addition to existing share charge over 6544000 shares (representing 4.31% of total issued share capital), Sayi Energy Ventur Limited has created security over a further 13594992 shares in KSK power Ventur plc (representing a further 9% of total issued share capital) in favour of certain Lenders as collateral security for debt facility availed being made available to Crescent Investment plc*. Sayi Energy Ventur Limited (the holding company through which Sayi Power Energy Limited, Executive Directors Mr. Kishore and Mr. Sastry as well as GE capital and Crescent Investment plc hold their interest in the Company) continues to hold 96,778,750 ordinary shares of KSK Power Ventur plc and therefore the directors Mr. Kishore and Mr. Sastry continue to be interested in the entire holding of Sayi Energy Ventur Limited.
Proxy Voting:
10. Name of the proxy holder:		N/A
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A
13. Additional information:	* Crescent Investment plc has recently acquired 11.65% in Sayi Power Energy Limited from GE Capital International (Mauritius) and the residual stake of GE Capital International (Mauritius) in Sayi Power Energy Limited now stands at 11.65%.
14. Contact name:	Mr. Richard Day / Mr. Adrian Trimmings
15. Contact telephone number:	[phone]

 

END

 

 

HOLUOVORRWAURAA