News Column

KSK Power Ventur Reiterates Plan For India Subsidiary Share Issuance

June 3, 2014

Tom McIvor

LONDON (Alliance News) - KSK Power Ventur PLC Tuesday reiterated the results of a shareholder meeting at its Indian listed 74.94% subsidiary, KSK Energy Ventures Ltd, following press speculation.

The power project company with operations in India said that at an extraordinary general meeting held by KSK Energy Ventures on May 24, a decision was made to issue additional share capital in KSK Energy Ventures to investors for an aggregate amount not exceeding INR10 billion.

The subsidiary also approved preferential allotment of up to 150 million warrants in KSK Energy Ventures to KSK Energy Ltd, the 100% owned subsidiary of KSK Power Ventur which holds the 74.9% stake in KSK Energy Venture. The allotment will be made directly or through affiliates in India or elsewhere.

KSK Power Ventur noted that under Indian regulation, the maximum discount of any potential placing is at 5% to the average daily closing share price on Indian markets in the last two weeks of trading but said that further details on the placement will be released shortly.

KSK Power Ventur shares were untraded at 117.80 pence on Tuesday.

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Source: Alliance News

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