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Business Update

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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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: KSK Power Ventur plc

Price: 2.25

Market: AIM
Market Cap: £3.94 m
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