Last checked at 2 Mar 2010 07:00
2 March 2010
KSK Power Ventur plc
Proposed move from AIM to the Secondary List of the Main Market
KSK Power Ventur plc ( "KSK" or "the Company"), the power project company with interests in multiple power plants across India, today announces that it intends to apply for a secondary listing of its entire existing issued ordinary share capital ("Ordinary Shares") on the Official List of the UK Listing Authority ("the Official List") and to trading on the London Stock Exchange plc's Secondary List of the Main Market for listed securities ("the Main Market").
Such a move will be through an introduction of its existing Ordinary Shares, with no new shares being issued. Pursuant to Rule 41 of the AIM Rules for Companies, the Company herby gives notice of the intended cancellation of trading of its Ordinary Shares on the AIM Market of the London Stock Exchange plc ("AIM").
It is expected that a cancellation of trading of the Ordinary Shares will take place at the same time as the Ordinary Shares are admitted to the Official List and begin trading on the Secondary List of the Main Market, which is expected to occur on or around 31 March 2010, subject to the receipt of the necessary approvals from the UK Listing Authority and the London Stock Exchange plc.
The Company and its subsidiaries (the "Group") have grown significantly since the admission of the Company's Ordinary Shares to trading on AIM in November 2006 and the board now considers, having regard to the Company's market capitalisation and operations profile, the Official List to be a more appropriate platform for the continued growth of the Group.
Existing shareholders should consult their own tax advisers as to the tax implications of the move to the Official List.
Arden Partners plc has been appointed as Financial Adviser in relation to the move to Main Market and will be acting as Corporate Broker and Financial Adviser to the Company.
For further information please contact:
KSK Power Ventur plc +91 40 2355 9922
S Kishore
Arden Partners plc +44 (0)20 7614 5900
Richard Day/ Steven Douglas/Adrian Trimmings