REG - KSK Power Ventur PLC - Indian Subsidiary Placing <Origin Href="QuoteRef">KSK.L</Origin> <Origin Href="QuoteRef">QUEBEC.UL</Origin>

KSK Power VenturAnnouncement

06/09/2014 02:09

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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: 
 

ttp://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 
 
+91 40 2355 9922 
 
Arden Partners plc 
 
Richard Day 
 
+44 (0) 20 7614 5900 
 
This information is provided by RNS
The company news service from the London Stock Exchange