Last checked at 29 May 2018 17:43
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¶m=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