Indian Subsidiary Placing

RNS Number : 2925J

KSK Power Ventur PLC

10 June 2014

 



10 June 2014

KSK Power Ventur plc "KSKPV" or "the Company"

Indian Subsidiary Placing

KSK Power Ventur plc (KSK.L), the power project company listed on the London Stock Exchange, with interests in multiple power plants across India, is pleased to announce that its subsidiary, KSK Energy Ventures Limited ("KSKEV"), the equity shares of which are listed and traded on the National Stock Exchange of India Limited ("NSE") and the Bombay Stock Exchange Limited ("BSE"), has filed with the NSE and BSE an announcement with respect to the issue and allotment of new shares in KSKEV, pursuant to the recent placing of 40,404,040 new shares at a price of Rs. 99 per Equity Share  aggregating to Rs. 4,000,000,000 (being the equivalent of US$67m) net to Qualified Institutional Buyers ("QIBs") under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. A copy of the announcement is available at:

http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=KSK&illiquid=0 

Following the allotment, KSKPV's interest in KSKEV's issued shares capital is now 279,232,677 shares, representing 67.60 per cent. At the KSKEV shareholders' meeting on 24th May 2014 a resolution was also passed for the allotment to the KSKPV group of up to 150,000,000 warrants. The warrants are convertible into an equivalent number of KSKEV equity shares, which when exercised at the same price, would enable KSKPV to increase its percentage shareholding in KSKEV up to its previous level.  

For further information please contact:

KSK Power Ventur plc

Mr. S. Kishore, Executive Director

Mr. K. A. Sastry, Executive Director

[phone]

Arden Partners plc

Richard Day

[phone]

 

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