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26 Jun 2018 07:18
LCK/CS/2016-17/ June 26, 2018
The General Manager Pakistan Stock Exchange Limited Karachi | The Deputy Chief Securities & Exchange Commission of Pakistan Islamabad | The London Stock Exchange 10 Paternoster Square, London |
Dear Sir(s)
MATERIAL INFORMATION
In accordance with Section 96 and 131 of the Securities Act, 2015 and Clause 5.19.13(c) of the Rule Book of the Pakistan Stock Exchange Limited, we hereby would like to convey the following information:
"Lucky Electric Power Company Limited (LEPCL), which is a 100% indirectly owned subsidiary of the Company, has achieved financial close on June 25, 2018 after fulfilling all the necessary conditions required to be met as per the financing agreements. The Financing documents were signed on May 31, 2018.
LEPCL is in the process of setting up a 660 MW super critical coal based power project for supplying electricity to the national grid. The project cost is estimated to be USD 885 million which shall be financed through a debt to equity ratio of 75:25. The project aims to start commercial operations in March 2021."
A disclosure form as required under S.R.O. 143(1)/2012 read with Section 15D of the Securities and Exchange Ordinance, 1969 is enclosed herewith.
You may please inform members of the Exchange accordingly.
Yours truly,
For: LUCKY CEMENT LIMITED
IRFAN CHAWALA
CFO / Director Finance
DISCLOSURE FORM
IN TERMS OF SECTION 15D OF THE SECURITIES AND EXCHANGE ORDINANCE, 1969
Name of Company: | LUCKY CEMENT LIMITED |
Date of Report |
June 26, 2018 |
Name of Company as specified In the Memorandum |
Lucky Cement Limited |
Company Registered Office |
Pezu, District Lakki Marwat, Khyber Pakhtunkhwa |
Contact information |
Tel: 111 786 555 Ext. 2261 |
Disclosure of inside information by listed company in terms of section 15D(1)
Lucky Electric Power Company Limited (LEPCL), which is a 100% indirectly owned subsidiary of the Company, has achieved financial close on June 25, 2018 after fulfilling all the necessary conditions required to be met as per the financing agreements. The Financing documents were signed on May 31, 2018.
LEPCL is in the process of setting up a 660 MW super critical coal based power project for supplying electricity to the national grid. The project cost is estimated to be USD 885 million which shall be financed through a debt to equity ratio of 75:25. The project aims to start commercial operations in March 2021.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Ordinance, 1969(XVII of 1969), the Company has duly caused this form/statement to be signed on its behalf by the undersigned hereunto duly authorized.
For and on behalf of
LUCKY CEMENT LIMITED
IRFAN CHAWALA
CFO / Director Finance
June 26, 2018
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