Subsidiary Results and Appointment

RNS Number : 2981M

KSK Power Ventur PLC

12 August 2011

 



 

12 August 2011                                                    

KSK Power Ventur plc

("KSKPV" or the "Company")

Indian Subsidiary Financial Results, Non-Executive appointment to the Board & Annual Information Update

KSK Power Ventur plc (KSK.L), the power project company listed on the London Stock Exchange, with interests in multiple power plants and businesses across India, is pleased to announce the following:

1. Indian subsidiary financial results (under Indian GAAP) for the three months ended 30 June 2011

The Indian 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 on 12 August 2011, its un-audited financial results for the three months ended 30 June 2011.

Full details of the KSKEV un-audited results are available from the KSKPV website (www.kskplc.co.uk) and the NSE website (www.nseindia.com ) and the BSE website (www.bseindia.com ).

2. Non-Executive appointment to the Board

The Company is pleased to announce the appointment of a Non-Executive Director, Mr. Abhay Mahadeo Nalawade to the Board of the Company with effect from today. Mr. Abhay Mahadeo Nalawade aged 62 years has been serving as Independent Director on the KSKEV Board for the last 10 years and has resigned from the KSKEV board from today in order to accept the appointment to the Company Board as a Non-Executive Director.

Mr. Abhay Mahadeo Nalawade has more than three decade of experience in energy field and served as CEO and Managing Director of Thermax Limited, a major corporation in energy and environment field. Mr. Abhay is a graduate in Physics with Masters in Business Administration (MBA) from Pune University and Management Development program from the Harvard Business School. He is currently the Founder & Managing Director of EcoAxis Systems Private Limited which has created machine -to- machine (M2M) communication platform for continuous remote monitoring and analytics for industrial equipment, energy, water & waste water systems and CDM projects.

Mr. Abhay does not hold any shares or options in the Company. Other than KSKEV, Mr. Abhay was not on the board of any other publicly quoted company and there are no other disclosures required under LR 9.6.13

Commenting on the developments, Sri T L Sankar, Non-Executive Chairman of KSK said:

"The Board of KSK is being strengthened by the appointment of Mr. Abhay Mahadeo Nalawade, with his credentials and with significant experience in Indian power sector, as an additional Non-Executive Director. In addition to responsibilities on the Board, the Company looks forward to his valuable services as a member of the audit and remuneration committee."

3. Annual Information Update

Under Prospectus Rule 5.2 all information which has been made available to the public by the Company over the previous 12 months in the UK is outlined below. In order to avoid an unnecessarily lengthy document, information is referred to in this update rather than included in full.

The Company has issued the following Regulatory News Announcements:

Date	Headline
27 July 2011	Final Results for the year ended 31 March 2011
17 May 2011	Developments re Indian Subsidiary and Shareholding
09 May 2011	Indian subsidiary financial results
24 February 2011	Change of Registered Office
15 February 2011	Interim Management Statement
14 February 2011	Indian Subsidiary Financial Results
26 January 2011	Acquisition of shares in Indian Subsidiary
05 January 2011	Wardha Unit-III
03 December 2010	Holding(s) in Company
22 November 2010	Interim Results
17 November 2010	Notice of interim results
01 November 2010	Indian Subsidiary Financial Results
12 October 2010	Holding(s) in Company
06 October 2010	Holding(s) in Company
05 October 2010	Holding(s) in Company
05 October 2010	Holding(s) in Company
29 September 2010	Result of AGM
29 September 2010	£62.5 Million raised through placing of new Shares
27 September 2010	Business Update Wardha Warora
20 September 2010	Mahanadi Power Project Business update
27 August 2010	Holding(s) in Company
19 August 2010	Annual Information Update

The announcements were made via RNS, a Regulatory Information Service. Further details on the information contained within the above RNS announcements can be viewed either on the Company's website www.kskplc.co.uk or www.londonstockexchange.com under code: KSK.

The Company submitted the following documents to UK Listing Authority's Document Viewing Facility and filed with the NSM UKLA Document Viewing Facility:

Date	Document Type
29 July 2011	Annual Report 2010-11
03 September 2010	Form of Proxy and Notice of AGM 2010

The Company published and sent the following information to shareholders:

Date	Document Type
30 July 2011	Annual Report 2010-11
06 September 2010	Form of Proxy and Notice of AGM 2010

The Company filed the following documents with the Companies Registry office of the Isle of Man Financial Supervision Commission:

Date	Document Type
18 July 2011	Annual Return 2011
01 March 2011	Form 4 - Notice of Change in situation of Registered Office
06 October 2010	Resolutions of Annual General Meting held on 29 September 2010
06 October 2010	Form 45 - Return of Allotments

For further information please contact:

KSK Power Ventur plc                                                             [phone]

Mr. S. Kishore, Executive Director

Mr. K. A. Sastry, Executive Director

Arden Partners plc                                                                    [phone]

Richard Day / Adrian Trimmings

 

END

 

 

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