REG - KSK Power Ventur PLC - Business Update

KSK Power VenturAnnouncement

29/05/2018 17:45

RNS Number : 5930P
KSK Power Ventur PLC
29 May 2018
 


 
 
 
29th May 2018
 
KSK Power Ventur plc
("KSK" or the "Group")
Business Update
 
KSK Power Ventur plc (KSK.L), the power project company listed on the London Stock Exchange, with interests in multiple power plants across India hereby refers to the notification made by 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 BSE Limited ("BSE") as available at the below web links:
 
https://www.nseindia.com/corporates/corporateHome.html?id=eqCorpAnnouncements&radio_btn=company&param=KSK
 
https://www.bseindia.com/xml-data/corpfiling/AttachHis/562eb203-0806-4f3f-b758-5e5b04171e95.pdf
 
Given the above developments and various other challenges being experienced across the group, certain of the planned initiatives outlined in the April 2018 RNS, including induction of new directors as well as other efforts, has been kept in abeyance until achieving further clarity on these various developments.   Also, with the current external environment in the wider power sector across India currently coupled with the new regulatory framework for debt resolution significant uncertainty continues.
Further, KSK being the holding company of KSKEV continues to await the outcome of the various discussions pursuant to the above developments and a resolution in the interest of all the stakeholders i.e. Borrower, project lenders, existing equity shareholders, suppliers, contractors employees.
 
 
For further information, please contact:
 
KSK Power Ventur plc
Mr. S. Kishore, Executive Director,        +91 40 23559922
 
Arden Partners plc
Steve Douglas / Paul Shackleton          +44 (0)20 7614 5900
 
 




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